BeInCrypto breaks down among the greatest altcoin movers and shakers from the earlier week. Will their momentum proceed?
Throughout the week of Feb 15 -22, these 5 altcoin picks rallied probably the most:
- Pundi X (NPXS) – 206%
- OKB (OKB) – 188%
- Kucoin Token (KCS) – 180%
- Holo (HOT) – 178%
- Ravencoin (RVN) – 152%
Largest Altcoin Gainers
NPXS has elevated significantly for the reason that starting of the yr, however the upward motion seems to be extraordinarily overextended and the worth may quickly attain a high.
Whereas the rise for OKB seems to be equally parabolic, the coin appears to be at an earlier stage of its bullish impulse relative to NPXS.
KCS isn’t near reaching its all-time excessive worth but however is approaching an necessary long-term resistance space.
Much like NPXS and OKB, the rise for HOT appears fully parabolic.
NPXS has elevated considerably since Dec. 23, 2020, when it was buying and selling at a low of $0.0001546. Up to now, it has moved upwards by 1,900%, reaching an all-time excessive worth of $0.0031 on Feb. 22. The rise has taken NPXS all the best way to rank 86 based mostly on its market capitalization.
Technical indicators are bullish. The MACD, RSI, and Stochastic oscillator are growing. None of them have generated any bearish divergence.
Nevertheless, the upward transfer has develop into fully parabolic, devoid of any construction. As well as, NPXS appears to be within the fifth and remaining wave of a bullish impulse (proven in black under) that started with the aforementioned Dec. 23 low.
NPXS is presently on the 1.61 Fib extension discovered at $0.027, which may act as the highest. If not, the subsequent more than likely space could be discovered at $0.039 (2.61 Fib extension). NPXS is anticipated to succeed in a high quickly and start a corrective motion.
OKB has been shifting upwards since December 2018, however the price of improve accelerated considerably on Jan. 23, 2021. At the moment, OKB was buying and selling at $5.13. Since then, OKB has elevated by 370% to succeed in an all-time excessive of $23.80 on Feb. 22. The rise took it to rank 61 based mostly on its market capitalization.
Regardless of the practically parabolic improve, the MACD, RSI, and Stochastic oscillator are nonetheless bullish, suggesting that the pattern can also be bullish.
As well as, the motion in 2020 (highlighted in purple) seems to be very very like a operating flat correction. Vital upward actions usually comply with these corrections.
Regardless of the potential of a short-term lower, it appears probably that OKB is in a long-term bullish wave three. This wave has a possible high goal of $28.54.
KCS elevated considerably over the previous week, shifting from a low of $2.08 to a excessive of $6.95. This improve took KCS above the $4.60 resistance space, which had beforehand been in place since 2018. The rise took it to #98 in market capitalization.
The following closest resistance space is discovered at $8.42 (0.382 Fib retracement degree measuring from the all-time excessive worth of $21.38). Technical indicators within the weekly time frame are bullish, supporting the continuation of the upward motion.
However, the earlier resistance space at $4.60 is now more likely to act as assist. It’s attainable that KCS will return and validate this degree earlier than resuming its upward motion.
HOT has been shifting upwards with energy since breaking out above the $0.001 resistance space on Feb. 10, 2020. Since then, HOT has elevated by an enormous 308%, reaching an all-time excessive worth of $0.0042 on Feb. 20. The rise took it to #95 based mostly on its market capitalization.
Regardless of technical indicators nonetheless being bullish, HOT has reached the 1.61 exterior Fib retracement degree at $0.004, so it’s attainable that it’ll appropriate within the short-term earlier than doubtlessly resuming its upward motion.
RVN has been growing by 1,933% since Jan. 28, 2020. This took it to #51 based mostly on its market capitalization. On Feb. 20, RVN reached an all-time excessive worth of $0.292 but it surely has decreased barely since.
An eventual steep correction is anticipated for the reason that price of improve appears unsustainable.
At present, RVN has simply reached the 0.382 Fib retracement degree at $0.186 and initiated a slight bounce.
If the extent doesn’t handle to assist the worth, the subsequent assist would probably be discovered at $0.152.
For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here
All the knowledge contained on our web site is revealed in good religion and for basic data functions solely. Any motion the reader takes upon the knowledge discovered on our web site is strictly at their very own threat.