BeInCrypto breaks down a few of the greatest altcoin movers and shakers from the earlier week. Will their momentum proceed?
In the course of the week of Feb. 22 -Mar. 1, these 5 altcoin picks rallied essentially the most:
- Fantom (FTM) – 48.28%
- Polygon (MATIC) – 45.23%
- Solana (SOL) – 36.50%
- Stacks (STX) – 21.60%
- Cardano (ADA) – 19%
Largest Altcoin Gainers
FTM has been lowering since reaching an all-time excessive worth on Feb. 25, however has bounced on the 0.5 Fib retracement stage and is presently within the technique of transferring upwards. Equally, SOL has been lowering since an all-time excessive worth was reached on Feb. 23.
Whereas MATIC made a brand new all-time excessive worth right this moment, it’s buying and selling parabolically and has begun to indicate weak point.
The STX enhance is totally parabolic, however there are not any clear indicators of weak point but.
After greater than three years, ADA lastly reached a brand new all-time excessive worth on Feb. 27.
FTM started final week with a major enhance that led to an all-time excessive worth of $0.87 on Feb. 25.
Whereas a pointy drop adopted, FTM managed to seek out assist on the 0.5 Fib retracement stage at $0.45 and bounced. It’s presently within the course of of making a major bullish engulfing candlestick.
The continuing bounce was preceded by a hidden bullish divergence within the day by day RSI.
Subsequently, it’s doable that FTM makes one other try at reaching a brand new all-time excessive worth.
However, FTM remains to be roughly 33% beneath its all-time excessive worth.
MATIC was barely fazed by the market-wide correction final week and reached an all-time excessive worth of $0.248 on Mar. 1.
Regardless of this ongoing enhance, MATIC is buying and selling on the prime of a parabolic ascending assist line and the RSI has generated a bearish divergence.
Subsequently, it’s doable that MATIC is approaching the highest of its upward motion.
Much like FTM, SOL additionally started final week with a major upward motion. It will definitely reached an all-time excessive worth of $18.20 on Feb. 24.
Nonetheless, a major drop adopted after the creation of a bearish engulfing candlestick the following day.
Whereas SOL is presently within the technique of bouncing, we can’t but decide if it’ll transfer in direction of a brand new all-time excessive. That is because of the bearish cross within the Stochastic oscillator and bearish divergence within the RSI.
Much like SOL and MATIC, STX additionally started final week with an all-time excessive worth of $1.19 on Feb. 24.
Whereas it has decreased by a full 22% since then, the RSI has generated a hidden bullish divergence and each the MACD and RSI are nonetheless bullish.
Subsequently, regardless of the rally being parabolic, it’s doable that STX has not but reached the highest of its upward motion.
After greater than three years, ADA lastly reached a brand new all-time excessive worth of $1.54 on Feb. 27.
ADA has created a protracted higher wick and has been lowering since.
Regardless of being above the earlier all-time excessive resistance space at $1, technical indicators are displaying weak point. This comes within the type of a bearish divergence within the RSI and MACD and a bearish cross within the Stochastic oscillator.
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