Top 7 altcoin winners of the week: VGX, MINA, YFII, RUNE, LUNA, QNT, EGLD
Bitcoin Magazine will check out the seven altcoins which have risen the most in the final seven days from July thirtieth to August sixth.
These altcoins are:
- Voyager Token (VGX): 77.44%
- Mina (MINA): 69.68%
- DFI.Money (YFII): 66.9%
- THOR chain (RUNE): 44.38%
- Terra (LUNA): 39.95%
- Quantity (QNT): 35.06%
- Elrond (EGLD): 31.99%
VGX has fallen together with a descending resistance stage because it peaked at $ 7.81 on February 25. This resulted in a low of $ 1.34 on May nineteenth.
It then returned to the $ 2.50 horizontal zone which is now anticipated to function a help space.
Currently, VGX is trading at the 0.382 fibonacci retracement resistance at $ 3.80. Technical indicators for the each day timeframe are nonetheless bullish. The subsequent resistance is at $ 4.56.
Daily VGX / USDT Chart | Source: TradingView
The MINA has risen quickly since breaking the descending resistance line on July twenty second. The upside moved to a excessive of $ 2.78 on August 4th. That quantity equates to a rise of 163% in 13 days.
However, it was rejected from the $ 2.62 resistance space and has since declined, creating a protracted wick under.
The subsequent space of help is at $ 1.85. That aim is the 0.5 fib retracement help.
MINA / USDT 6-hour chart | Source: TradingView
YFII has been rising quickly since June twenty second. On August 2, it lastly broke the $ 3,450 horizontal resistance space that has existed for 170 days.
So far it has hit a excessive of $ 4,766 on August third. The technical indicators in the each day timeframe are nonetheless bullish.
The subsequent resistance is at $ 6,450 whereas the subsequent help is at $ 3,450.
Daily YFII / USDT Chart | Source: TradingView
RUNE bounced off the horizontal help space of $ 2.80 on July 20. It broke the descending resistance line after eight days and has been shifting larger since then.
On August 4th, it returned to the horizontal stage of USD 7.30 and confirmed it as help.
The closest resistance is at $ 10.30. That goal is the 0.618 Fib retracement resistance stage.
Technical indicators for the each day timeframe are bullish.
Daily RUNE / USDT chart | Source: TradingView
LUNA has been shifting quickly upwards since July twentieth. It broke the descending resistance line on August 1st and hit the horizontal stage of $ 11.50 the subsequent day.
So far it has hit a excessive of $ 15.57 on August 4th (pink symbol). The excessive was created immediately at the retracement resistance of 0.618 Fib. If you handle to maneuver above it, your subsequent goal is $ 17.80. The $ 11.50 zone is now stated to function help.
The technical indicators are bullish, though the RSI is deep in the overbought territory.
Daily LUNA / USDT chart | Source: TradingView
QNT has been rising quickly since July twentieth. In 13 days it rose 232%, resulting in an all-time excessive of $ 187 on August 2nd, 2.61 retracement (black).
However, it has created a bearish candle and a possible double excessive. A bearish divergence can also be forming in the RSI.
The subsequent help is at $ 121 whereas the subsequent resistance will probably be at $ 213.
QNT / USDT each day chart | Source: TradingView
The EGLD has risen since June twenty second and hit the next low on July twentieth.
It is approaching a crucial resistance at $ 116, which additionally coincides with the resistance line of a doubtlessly upward parallel channel.
A break above this stage may set off a pointy rally to $ 200.
There is at the moment no clear sign whether or not EGLD will get away or be rejected.
Daily EGLD / USDT chart | Source: TradingView
Here you’ll be able to see the altcoin costs.
Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis fastidiously earlier than making a choice. We are usually not liable for your funding selections.
According to Beincrypto