5 Greatest Altcoin Gainers from Jan. 11 – 17

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BQX and CRV have the potential for a rise in the direction of the closest resistance space, whereas HEDG has but to interrupt out above long-term resistance. AVAX is already at an all-time excessive following a parabolic help line, making its place essentially the most precarious out of the 5 altcoins.

 

Greatest Altcoin Movers

Throughout the week of Jan 11-18, the 5 altcoins that elevated essentially the most had been:

  1. HedgeTrade (HEDG) – 275%
  2. Voyager Token (BQX) – 162%
  3. Curve Dao Token (CRV) – 154%
  4. IOST (IOST) – 147%
  5. Avalanche (AVAX) – 133%

 

HEDG

HEDG has been following a descending resistance line since reaching a excessive of $3.15 on June 4, 2020. HEDG has validated the road a number of instances up so far, most lately on Jan. 16, throughout final week’s upward motion.

Regardless of the numerous enhance, HEDG failed to interrupt out above this line, merely validating the $2.85 space as resistance as soon as extra. At the moment, HEDG is again to buying and selling beneath this descending resistance line.

Whereas technical indicators within the every day timeframe are nonetheless bullish, the lengthy higher wick and failure to interrupt out is a powerful signal of promoting stress.

Due to this fact, it’s doable that HEDG drops to the 0.618 Fib retracement stage earlier than doubtlessly making one other breakout try.

HEDG Chart By TradingView

BQX

Starting on Jan. 4, BQX has had a large run-up, rising by 933% within the course of.

Regardless of such a substantial upward transfer, there is no such thing as a weak point in technical indicators but, regardless of all of them signaling that costs are within the overbought territory.

BQX Chart By TradingView

The weekly chart additionally suggests that there’s room for additional will increase. The closest resistance space is discovered at $2.03 (0.382 Fib retracement stage).

Weekly indicators are equally overbought however bullish, supporting the continuation of the upward motion.

BQX Chart By TradingView

CRV

CRV has been rising quickly since breaking out from a descending resistance line and validating it as help on Jan. 11.

Regardless of the parabolic charge of enhance, technical indicators are nonetheless bullish, although they’re in overbought territory.

The closest resistance space is discovered at $2.27 (0.382 Fib retracement stage). Just like BQX, CRV is predicted to achieve this resistance.

CRV Chart By TradingView

IOST

On Jan. 15, IOST reclaimed the $0.0175 space, which had beforehand acted as resistance for the reason that starting of 2018. IOST validated the world as help after and has been rising since.

Technical indicators are nonetheless bullish, regardless of being overbought, supporting the continuation of the upward motion.

Due to this fact, IOST is predicted to proceed rising in the direction of the closest resistance space at $0.037.

IOST Chart By TradingView

AVAX

AVAX has been rising quickly since breaking out from a descending resistance line and reclaiming a horizontal stage on Jan. 8. Since then, the speed of enhance has grow to be parabolic.

As a result of lack of help beneath the present value, the rally appears a little bit unstable. However, technical indicators are nonetheless bullish, supporting the continuation of the upward transfer.

Because of AVAX being at an all-time excessive, we have to use a Fib extension on the unique upward transfer to be able to decide the following resistance areas.

Doing so provides us the $16.87 and $23 ranges as potential resistance areas (2.61 and three.61 Fib extensions respectively).

AVAX Chart By TradingView

For BeInCrypto’s newest Bitcoin (BTC) and altcoin analyses, click here!

Disclaimer: Altcoin trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

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