BeInCrypto breaks down a number of the largest altcoin movers and shakers from the earlier week. Will their momentum proceed?
In the course of the week of April 5 – 12, the most important altcoin gainers had been:
Kucoin Token (KCS) – 170%
Bitcoin Gold (BTG) – 166%
XRP (XRP) – 97.5%
Binance Coin (BNB) – 68%
PancakeSwap (CAKE) – 65%
KCS has been rising parabolically because the starting of the month. To date, it has carried out so by 270%.
To date, it has managed to achieve a excessive of $20. That is solely barely under the all-time excessive of $21.30 reached in Jan. 2018.
There’s some weak point creating, seen within the type of bearish divergence in each the RSI & Stochastic oscillator.
Due to this fact, some rejection might happen as soon as HOT reaches the ATH space. This might additionally make sense because the upward motion has not retraced since $4.
Due to this fact, a breakout above the ATH space on the primary attempt can be uncommon.
BTG was topic to a really fast enhance final week, reaching a excessive of $121.35.
The upward transfer took it to the long-term resistance space of $110, the place it was rejected.
Technical indicators within the weekly timeframe are bullish, suggesting that the long-term development can also be bullish.
Nonetheless, till BTG manages to interrupt out above this space or will get rejected, the short-term development path can’t be decided.
If BTG will get rejected, the closest assist ranges are discovered at $77.8 and $61.
However, the following resistance is discovered at $275.
Just like BTG, XRP has reached the 0.382 Fib retracement stage of the earlier downward motion.
The long-term development is clearly bullish, with the RSI simply shifting above 70 and the Stochastic oscillator making a bullish cross. The subsequent resistance space is discovered at $2.25.
Nonetheless, some short-term retracement might happen earlier than the continuation of the upward motion.
BNB has been shifting upwards since breaking out from a symmetrical triangle on March 30.
Since then, it has elevated by 112%.
Technical indicators are bullish, however BNB has reached the $208 resistance space. The two.61 exterior Fib retracement creates this. In addition to, the rally is totally parabolic.
The subsequent resistance space is discovered at $770.
CAKE has been shifting upwards since breakout out from the $18 resistance space on April 18.
It’s presently approaching the following resistance space, which is discovered at $30. This acted because the all-time excessive on March 18.
CAKE is predicted to achieve it.