The Magnificent Seven: CAKE, RVN, GNT, XVS, BNB, DASH, TFUEL


February has been bullish for almost all of the cryptocurrency market, with quite a few cash reaching new all-time excessive costs.

On this article, we’ll have a look at the seven cash which have elevated probably the most over the previous seven days (Feb 12 – 19).

They’re:

  1. PancakeSwap (CAKE) – 173%
  2. Ravencoin (RVN) – 154%
  3. Golem (GNT) – 144%
  4. Venus (XVS) – 133%
  5. Binance Coin (BNB) – 112%
  6. Sprint (DASH) – 94%
  7. Theta Gasoline (TFUEL) – 98%

1. PancakeSwap (CAKE)

CAKE has been rising quickly since Jan. 11, when it was buying and selling at a low of $0.44. Since then, CAKE has elevated by 4,580%, reaching an all-time excessive worth of $21.45 on Feb. 19.

Whereas the Stochastic oscillator has made a bearish cross, each the RSI and the MACD are nonetheless rising, suggesting that the pattern is bullish. Nonetheless, the every day RSI has been overbought for 32 days. Thus the present upward transfer could be very overextended.

Moreover, CAKE has simply moved above the $18.75 space, a doable goal for the highest of the upward motion. Whereas CAKE may rally in direction of the subsequent goal at $26.83, it appears the upward pattern is nearing its finish, and CAKE will quickly start to right.

On Feb. 18, CAKE was listed on Gate.io, and it’s doable that this had a optimistic impact on the rally.

CAKE Chart By TradingView

2. Ravencoin (RVN)

RVN has been on a substantial upward pattern since Jan. 28. It has elevated by 800% in solely 18 days. On Feb. 18, RVN reached an all-time excessive worth of $0.135.

RVN has been shifting at an accelerated tempo since breaking out from the $0.075 space, which beforehand served as an all-time excessive.

When utilizing an exterior retracement on the latest downward transfer, RVN has simply reached the $0.14 space, which is a doable degree for the highest.

Whereas technical indicators are nonetheless bullish, the transfer is sort of vertical. Contemplating that RVN has reached a possible reversal space, it could make sense for no less than a short-term correction earlier than it resumes its upward momentum.

RVN Chart By TradingView

3. Golem (GLM)

GLM elevated significantly this week, shifting from a low of $0.198 to a excessive of $0.63. The rise additionally took GLM above the $0.33 resistance space, which had beforehand been in place since Jun. 2018.

Nonetheless, GLM was rejected by the 0.618 Fib retracement of the earlier downward motion at $0.58. The rejection took GLM to $0.46, the place it’s presently buying and selling.

Regardless of the rejection, technical indicators are nonetheless bullish, suggesting that the pattern can be bullish. GLM is presently retracing in direction of the $0.33 assist space, earlier than probably preparing for one more upward transfer.

Nonetheless, GLM is being delisted by the Omgfin trade at the moment (Feb 19), which may have a adverse impact on the value of the coin.

GLM Chart By TradingView

4. Venus (XVS)

Starting on Jan. 20, XVS elevated by an enormous 2,673%, vaulting into the highest 80 based mostly on market capitalization. On Feb. 19, XVS reached an all-time excessive worth of $102.94 earlier than lowering barely.

XVS has already reached a possible goal for the highest of the upward transfer, which is $106. Moreover, the RSI has fashioned appreciable bearish divergence, a possible signal of a high.

If XVS have been to proceed rising, the subsequent most certainly space for the highest can be at $151.

XVS Chart By TradingView

5. Binance Coin (BNB)

Over the previous 4 days, BNB has elevated by an enormous 200%, reaching an all-time excessive worth of $348 within the course of. On Feb 19 alone, BNB elevated by 60%.

Whereas technical indicators don’t but present any clear weak point, the RSI has been overbought for a full 19 days, the very best such interval in BNB’s worth historical past.

Moreover, BNB appears to be within the fifth and closing wave of a bullish impulse and has already reached the potential goal for the highest of the transfer.

Whereas BNB might proceed to extend at a parabolic charge, it’s extra probably that it’ll right shortly earlier than probably resuming its upward pattern.

BNB Chart By TradingView

6. Sprint (DASH)

DASH has elevated significantly over the previous two weeks, breaking out from the $175 resistance space. Beforehand, this space had held for roughly two years.

Technical indicators on the weekly timeframe are bullish and present no indicators of weak point but.

If DASH continues to rally, the subsequent closest resistance space can be at $642, the 0.382 fib retracement of the downward transfer measuring from the all-time excessive worth.

DASH Chart By TradingView

7. Theta Gasoline (TFUEL)

TFUEL has been on a tear in Feb, rising by practically 300% because the starting of the month. On Feb. 19 alone, TFUEL reached an all-time excessive worth of $0.106, after rising by 75% on the day.

Regardless of an overextended rally, there aren’t any indicators of weak point in technical indicators. Nonetheless, the present enhance doesn’t appear sustainable. Thus a correction, no less than within the short-term, is probably going.

Moreover, TFUEL has already moved above the two.61 and three.61 exterior fib retracement ranges, leaving a possible closing goal on the 4.61 retracement space: $0.117.

On Feb. 10, TFUEL was listed on the BitMart trade, an announcement that might have positively impacted its worth.

TFUEL Chart By TradingView

Remember to additionally try BeInCrypto’s The Hateful Eight article the place we cowl the largest losers of the previous week.

For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here.

Disclaimer


All the data contained on our web site is printed in good religion and for normal info functions solely. Any motion the reader takes upon the data discovered on our web site is strictly at their very own threat.





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