BeInCrypto breaks down among the largest altcoin movers and shakers from the earlier week. Will their momentum proceed?
Throughout the week of March 8 – March 15, these had been the largest altcoin gainers:
- Chiliz (CHZ) – 363%
- Holo (HOT) – 170%
- Hedera Hashgraph (HBAR) – 158%
- Concord (ONE) – 146%
- Theta Gas (TFUEL) – 143%
Largest Altcoin Gainers
CHZ reached an all-time excessive value of $0.94 on March 10. The rally is totally parabolic and a few kind of retracement is predicted.
Each HOT and HBAR reached new all-time excessive costs of $0.0095 and $0.455 respectively on March 15. Each altcoins have created lengthy higher wicks since then.
ONE additionally reached a brand new all-time excessive on March 15. Nonetheless, it’s doubtlessly within the course of of making a shooting star candlestick.
TFUEL is buying and selling inside a short-term descending parallel channel which it may get away from within the close to future.
Within the interval of March 2 – March 10, CHZ elevated by an enormous 1,600%. This led to an all-time excessive value of $0.94. CHZ has additionally moved above all-important exterior Fib retracement levels.
CHZ has been transferring downwards since and created successive lengthy higher wicks. As well as, the RSI has been overbought for a full 14 days.
Whereas a parabolic altcoin rally can all the time proceed, it will make sense for CHZ to retrace in direction of the 0.5-0.618 Fib assist ranges at $0.38-$0.49. After that, CHZ may create some kind of consolidation construction earlier than deciding on the path of the pattern.
HOT has been growing quickly since turning the earlier all-time excessive resistance to assist on March 5.
The following upward transfer will increase by 328%, taking HOT to an all-time excessive value of $0.0095 on March 15.
The excessive was made proper on the 3.61 exterior Fib retracement, a possible reversal space.
Whereas HOT may enhance all the best way to the 4.61 Fib retracement at $0.011, an eventual correction is predicted.
Hedera Hashgraph (HBAR)
HBAR has been transferring upwards since Feb. 23. It has been on an absolute tear over the previous two days, at one level growing by 62%. This led to an all-time excessive of $0.45 on March 15.
There is no such thing as a weak point within the MACD or RSI. Nonetheless, HBAR has already moved above the 4.61 exterior Fib retracement of the newest drop. This degree typically acts as the highest throughout parabolic actions corresponding to these.
If HBAR begins to right, it may discover assist close to $0.27.
ONE reached a brand new all-time excessive value of $0.108 on March 15. Nonetheless, it has created a really lengthy higher wick and is doubtlessly making a bearish shut. This might create a shooting star candlestick — a standard bearish reversal signal.
ONE has almost reached the 4.61 exterior Fib retracement of the newest enhance. That is additionally a possible reversal space.
If ONE corrects, it ought to discover assist between $0.051-$0.062.
Theta Gas (TFUEL)
TFUEL has been transferring downwards since March 12 after it reached a brand new all-time excessive value of $0.459.
Nonetheless, the lower looks corrective, as TFUEL is buying and selling inside a parallel descending channel.
Subsequently, it’s attainable that TFUEL bounces at one of many assist ranges at $0.32 or $0.27 earlier than breaking out.
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