Shiba Inu (SHIB) leads the TOP 10 coins with the strongest increase in October
October was an extremely bullish month for the crypto market. Bitcoin (BTC) is up 32% to hit a new all-time high on October 20, and six altcoins are up triple digits, led by Shiba Inu (SHIB).
The top ten altcoin winners in October are:
- Shiba Inu (SHIB): 1005%
- Secret (SCRT): 350%
- Frax share price (FRX): 224%
- Fantom (FTM): 190%
- Curve DAO Token (CRV): 120%
- Harmony (ONE): 100%
- 1 inch (1 inch): 97%
- Near protocol (NEAR): 79%
- Thor’s chain (RUNE): 75%
- Axie Infinity (AXS): 67%
SHIB has risen since the beginning of October, and the rate of increase has accelerated since October 23. In just four days, SHIB is up 217%.
However, it was rejected by the critical Fib resistance near $ 0.000088. This is the 4,618 external fib retracement level when measuring the recent decline. It usually acts as a local peak during the ascent.
It also coincides with the 1.61 external fib retracement level of the previous decline from the all-time high in May.
After all, the volume has decreased since the pump started (green icon), another sign that the upward movement is slowing.
However, SHIB is trading in a short-term continuation pattern which could lead to another breakout.
Daily SHIB / USDT Chart | Source: TradingView
SCRT has recovered parabolically over the past week. It hit a new all-time high on October 28th and was the first to break above $ 10.
The next resistance range is between $ 13.90 and $ 14.25. This area is created using the long-term (black) and short-term (white) external fib retracement layers.
Since both levels represent the same target, this zone is expected to act as a strong resistance.
Weekly SCRT / USDT Chart | Source: TradingView
FXS has been growing rapidly since October 20th.
It is currently trading in the final area of resistance before hitting an all-time high of $ 14.80.
Originally, FXS was rejected by this resistance area on October 26th, creating a long top wick (red symbol). However, another attempt to break out is currently being made.
If the attempt is successful, the closest area of resistance will be found at $ 24.90. This is the external fib retracement resistance of 1.61 when measuring the previous drop.
FXS / USDT daily chart | Source: TradingView
Similar to SHIB and FXS, the FTM rally accelerated significantly on October 22nd. On October 26th, FTM was rejected from the external fib retracement level of 2.61 at $ 3.45.
After regaining a foothold, she made another attempt to escape, but was unsuccessful.
If there is a breakout, the next resistance is at $ 4.41. This is the external fib retracement resistance of 3.61 when you measured the last drop.
Daily FTM / USDT Chart | Source: TradingView
The CRV has risen at a rapid pace since breaking above the descending resistance line on October 22nd. This suggests that the correction that has occurred since the previous all-time high has come to an end.
After CRV hit a new all-time high, CRV confirmed previous resistance at $ 4.20 as support (green symbol) and continued its upward move. It hit another all-time high on October 28, but then fell back to support.
The next resistance is at $ 6.85. This is the external fib retracement level of 1.61 when measuring the previous drop.
Daily CRV / USDT Chart | Source: TradingView
ONE has been rising along with the ascending support line since the beginning of July.
It accelerated on August 8th and ONE broke above the $ 0.205 horizontal resistance area that same day. Two days later, it hit a new all-time high of $ 0.266.
After confirming the USD 0.205 area as support (green symbol), ONE continued to rise and hit a new all-time high on October 26th.
However, ONE has been rejected by the outer Fibonacci retracement resistance at 1.61 and is about to turn down.
Daily ONE / USDT chart | Source: TradingView
1INCH rose on October 27, reaching 95% at times. Hit a high just below the previous ATH at around $ 0.12.
It was rejected from the $ 7.60 resistance area and has been falling since then. On the same day, a long upper wick with a thickness of 26% emerged – a strong sign of selling pressure.
The next support zone is at $ 4.
Daily 1INCH / USDT Chart | Source: TradingView
On September 26th, NEAR moved below the support area at its all-time high of $ 7.40 and then returned to it.
On October 19, the price broke above a descending resistance line and has been rising rapidly since then.
NEAR hit a new all-time high of $ 13.22 on October 26th. The next day, it bounced off the $ 10.55 support area and started another upward move. However, it failed and again fell back into the USD 10.55 zone.
NEAR / USDT daily chart | Source: TradingView
RUNE has moved up since breaking above the descending resistance line on October 22nd. On October 24th, it rose above the September high of $ 12.20. It is currently in the process of validating this zone as a support (green symbol).
RUNE is rapidly approaching all-time highs, 70% above the horizontal support area of $ 11.80.
Daily RUNE / USDT chart | Source: TradingView
Since hitting an all-time high on October 4th, AXS has fallen into a symmetrical triangle. This is generally considered a neutral pattern.
AXS broke out over this pattern on October 31st. The closest resistances are found at $ 186.50 and $ 227.50. The first level gives current and previous upward moves a ratio of 0.618: 1 while the second gives them a ratio of 1: 1.
Daily AXS / USDT Chart | Source: TradingView
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Beincrypto