The Magnificent Seven: CHZ, ENJ, TFUEL, MANA, THETA, XEM, BAT – Greatest Gainers of the Previous Week


On this article, BeInCrypto takes a have a look at the seven altcoins that elevated probably the most over the previous seven days (Feb. 26–March 5):

The largest altcoin gainers are:

  1. Chiliz (CHZ) – 146%
  2. Enjin Coin (ENJ) – 106%
  3. Theta Gas (TFUEL) – 92%
  4. Decentraland (MANA) 57.3%
  5. THETA (THETA) – 48%
  6. NEM (XEM) – 45%
  7. Primary Consideration Token (BAT) – 43%

Chiliz (CHZ)

CHZ was the most important gainer from final week, rising by a large 377% over the previous 9 days. On March 4, it reached an all-time excessive value of $0.155 however did not maintain it.

Furthermore, it has left a really lengthy higher wick in place — practically your entire peak of the physique.

The all-time excessive was made above the two.61 exterior Fib retracement of the latest downward motion, which frequently acts as the highest in such patterns. The failure to shut above this stage is an indication of weak spot. 

Nonetheless, whereas the Stochastic oscillator has made a bearish cross, the RSI and MACD are rising. This enables for the likelihood that the parabolic improve will proceed within the short-term, although it’s unsustainable within the long-term.

CHZ Chart By TradingView

Enjin Coin (ENJ)

ENJ has been transferring upwards since breaking out from and validating the earlier all-time excessive resistance as help. This occurred on Feb. 23. ENJ has elevated quickly since. 

This led to an all-time excessive value of $1.58 on March 4. At that time, ENJ had elevated by a large 375% in lower than two weeks. 

Regardless of weekly technical indicators being bullish, it’s potential {that a} short-term retracement might happen. 

It’s because equally to CHZ, ENJ has moved above the two.61 exterior retracement stage, although it has failed to shut above it. 

Due to this fact, regardless of the long-term development being bullish, the parabolic charge of improve and failure to shut above an essential Fib resistance suggests {that a} short-term retracement might happen.

ENJ Chart By TradingView

Theta Gas (TFUEL)

TFUEL has been transferring upwards since Feb. 23, when a low of $0.059 was reached. The rise continued till a brand new all-time excessive value of $0.171 was reached on March 5. This amounted to a close to 200% improve in solely ten days. TFUEL has decreased barely since. 

Technical indicators are displaying weak spot, as evidenced by the bearish divergence within the RSI and the bearish cross within the Stochastic oscillator. Each are indicators of an impending lower.

If TFUEL had been to proceed rising as an alternative, the following closest resistance space can be discovered at $0.21.

TFUEL Chart By TradingView

Decentraland (MANA)

MANA broke out from the earlier all-time excessive resistance space of $0.235 in the beginning of February. After retesting the extent as help, it initiated a bounce. This led to an all-time excessive value of $0.468 on March 4.

The continued bounce was preceded by a hidden bullish divergence within the RSI.

Each the MACD and Stochastic oscillator are rising. Due to this fact, if MANA had been to proceed its bullish development, the following closest resistance space can be discovered at $0.69.

MANA Chart By TradingView

THETA (THETA)

THETA has been on an prolonged upward motion since November 2020. It has elevated by 675%. 

Right now, it reached a brand new all-time excessive value of $4.72.

The MACD, RSI, and Stochastic oscillator are rising. The RSI has generated a hidden bullish divergence. 

Nonetheless, the rally is totally parabolic and THETA has moved above all targets from previous to the breakout. 

THETA Chart By TradingView

NEM (XEM)

XEM reached an all-time excessive value of $0.93 on March 3, however created a taking pictures star candlestick and has been reducing since.

Technical indicators are additionally displaying weak spot. The RSI has generated a bearish divergence, the Stochastic oscillator has made a bearish cross, and the MACD has generated a decrease momentum bar.

Out of the cash offered on this article, the outlook for XEM appears probably the most bearish. That is because of the long-term bearish divergence on prime of the parabolic charge of improve.

NEM Chart By TradingView

Primary Consideration Token (BAT)

BAT has been transferring upwards since breaking out from a long-term descending resistance line and validating it as help after. This occurred final week. BAT bounced significantly afterward, resulting in a excessive of $0.87 this week. 

Nonetheless, BAT has failed to shut above the $0.75 long-term resistance space, leaving an extended higher wick as an alternative. 

Nonetheless, technical indicators are bullish. That is evidenced by the bullish cross within the Stochastic oscillator and the rising MACD and RSI. This means that BAT is prone to transfer increased — probably in the direction of the earlier all-time excessive of $1.086.

BAT Chart By TradingView

This concept can also be supported by the six-hour chart that exhibits a breakout and retest of the $0.066 help space.

BAT Chart By TradingView

 

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

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



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