The Magnificent Seven: MATIC, SOL, HNT, ONE, ANKR, CEL, SUSHI — Largest Gainers, Could 14—21


BeInCrypto appears to be like on the seven altcoins that elevated essentially the most over the previous seven days, from Could 14 to Could 21.

  1. Polygon (MATIC)- 36.51%
  2. Solana (SOL) – 3.92%
  3. Helium (HNT) – 2.43%
  4. Concord (ONE) – 1.47%
  5. Ankr (ANKR) – 3.72%
  6. Celsius (CEL) – 5.71%
  7. SushiSwap (SUSHI) – 7.05%

MATIC

 MATIC had been growing quickly since April 16. The rise grew to become parabolic, on Could 12, and the token reached a brand new all-time excessive value of $2.70, on Could 18.

Nevertheless, it dropped sharply afterwards, making a bearish engulfing candlestick (highlighted). The drop took MATIC to the 0.618 Fib retracement assist stage at $1.19.

Regardless of the bounce, the previous upward motion appears to be like like a accomplished 5 waves up with an prolonged fifth wave. Subsequently, it’s attainable that the upward pattern has come to an finish.

Chart By TradingView

SOL

SOL has been transferring downwards since Could 18, when it reached an all-time excessive value of $58.38. Equally to MATIC, it created a bearish engulfing candlestick the subsequent day. 

The drop took all of it the way in which all the way down to the $29.50 assist space, validating it as assist and creating an extended decrease wick. 

At the moment, it’s making an attempt to reclaim the $42.50 resistance space, which is the 0.5 Fib retracement stage of the downward motion.

Chart By TradingView

HNT

HNT has been lowering inside a descending channel since reaching a excessive of $21.50, on April 7. Descending parallel channels often comprise corrective buildings. 

Up to now, it has twice bounced of the assist line of the channel, leaving extraordinarily lengthy decrease wicks every time. The latest occurred on Could 19.

At the moment, it’s making an attempt to reclaim the center of the channel. If profitable, this may be an especially bullish growth, indicating that new highs are on the horizon.

Chart By TradingView

ONE

ONE had been transferring upwards since reaching a low, on April 23. Shortly afterwards, it broke out from a descending resistance line, and proceeded to achieve a excessive of $0.188, on Could 18.

Nevertheless, it decreased sharply the subsequent day, falling to a low of $0.07. The drop validated the 0.618 Fib retracement stage at $0.096 as assist.

The principle resistance space is discovered at $18.

Chart By TradingView

ANKR

ANKR has been lowering since March 28, when it reached an all-time excessive value of $0.21. Equally to HNT, the lower adopted a descending parallel channel.

The worth touched the assist line of the channel thrice, most lately on Could 19, creating a really lengthy decrease wick with a magnitude of 55%. 

It’s presently making an attempt to reclaim the center of the channel. If profitable, this may point out {that a} breakout is predicted.

Chart By TradingView

CEL

On April 4, CEL broke out from a descending resistance line and proceeded to achieve a excessive of $8.36 three days later. Since then, it has twice returned to validate the resistance line as assist, most lately on Could 19. 

As well as, it has reclaimed the horizontal assist space at $6.

The subsequent closest resistance ranges are discovered at $8.33 and $10.58, respectively. The targets are discovered utilizing an exterior Fib retracement on the newest drop.

Chart By TradingView

SUSHI

On Could 6, SUSHI broke out from a descending resistance line that had been in place because the $23.43 all-time excessive, on March 13. 

After validating the road as assist on Could 10, the token started one other upward motion. Nevertheless, this led to a decrease excessive being reached on Could 18 and a pointy lower the subsequent day.

The drop took it to a low of $10.25. The following bounce validated the $12 space as assist.

The assist space has held because the starting of Feb., excluding a shortly lived deviation in April (crimson circle). 

So long as SUSHI is buying and selling above it, the pattern might be thought-about bullish.

Chart By TradingView

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

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