Bitcoin Magazine will analyze last week’s high 5 altcoin winners to see if their momentum can proceed or not?

Last week’s 5 largest altcoin winners have been:

1. Quantity (QNT): 67.39%
2. THOR chain (RUNE): 53.45%
3. Siacoin (SC): 31.25%
4. Ankr (ANKR): 30.82%
5. Neo (NEO): 30.05%

QNT

QNT has been rising quickly since July twentieth. On August 2, it hit a brand new all-time excessive of $ 187.

The excessive was taken simply above the exterior fib retracement stage of two.61 when measuring the current decline.

However, the surge couldn’t be sustained and QNT created a big bearish candle with an extended high wick (purple symbol).

Despite the weak spot within the six hour timeframe and beneath, the every day timeframe indicators are nonetheless bullish.

(*5*)

QNT / USDT every day chart | Source: TradingView

RUNE

RUNE has fallen beneath the descending resistance line since May twenty seventh. It hit the $ 3.80 horizontal assist space on July 20 and bounced to the upside.

The rally helped the price break above a descending resistance line. Currently, RUNE is nearing the $ 7.25 horizontal resistance space.

Technical indicators within the every day timeframe are nonetheless bullish. The RSI has moved above 50 and the stochastic oscillator has created a bullish cross (inexperienced symbol). This exhibits that the price is probably going to break above the resistance space. However, a short-term cancellation might be made beforehand.

The subsequent resistance is at $ 10.30. This is the 0.618 fib retracement resistance.

Daily RUNE / USDT chart | Source: TradingView

SC

SC has been growing since June twenty second. It hit a better low on July 20 and accelerated its rise.

This helped the price break above the $ 0.014 resistance space and hit a excessive of $ 0.02 on August 1st.

However, SC was unable to rise above the $ 0.02 resistance space and as an alternative created an extended high wick (purple).

Despite the rejection, the technical indicators are nonetheless bullish on the every day timeframe.

The USD 0.014 space is now anticipated to function assist.

SC / USDT every day chart | Source: TradingView

ANKR

ANKR has been trading on a descending parallel channel since March 18. Such channels usually include corrective actions.

On June twenty second, ANKR fell as little as $ 0.047, touching the channel’s assist line for the fifth time. Since then, costs have risen.

On July twenty seventh, it tried to transfer above the centerline of the channel and the horizontal resistance space of ​​$ 0.078. This space now serves as a assist.

Technical indicators for the every day timeframe are bullish.

If the price breaks above the channel, the subsequent resistance shall be at $ 0.155.

ANKR / USDT every day chart | Source: TradingView

ANCHOR

On June twenty second and July twentieth, NEO created a raised ground. The double backside is commonly seen as a bullish sample and can be related to bullish divergences within the MACD and stochastic oscillator. The following indicator produced a bullish cross shortly thereafter.

After the sample was fashioned, NEO broke above the descending resistance line and ultimately moved above the $ 38 resistance space which is now meant to function assist.

So far, NEO has hit a excessive of $ 48.45 proper on the 0.5 Fib retracement resistance. Movement throughout this zone can set off a pointy rally to $ 62.

The technical indicators within the every day timeframe are nonetheless bullish and favor a continuation of the uptrend.

NEO / USDT every day chart | Source: TradingView

Here you may see the altcoin costs.

Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis fastidiously earlier than making a call. We will not be liable for your funding choices.

SN_Nour

According to Beincrypto

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