September was a relatively bearish month for the crypto market. Bitcoin (BTC) is down 8% and only three tokens have triple-digit growth. This is in stark contrast to August, when more than ten tokens saw triple-digit growth.
The top ten altcoin winners in September are:
- Celer network (CELR): 196%
- Coti (COTI): 101%
- DigitalBits (XDB): 100%
- OMG Network (OMG): 89%
- Cosmos (ATOM): 49%
- Algorand (ALGO): 43%
- Hedera hash graph (HBAR): 27%
- Solana (SOL): 26%
- Near protocol (NEAR): 25%
- IOST (IOST): 22%
The CELR has risen along with the parabolic ascending support line since July 20th. This resulted in a new all-time high of $ 0.198 on September 16.
A high was created just above the external fib retracement resistance of 1.61 at $ 0.155 but below the 2.61 fib resistance at $ 0.24.
Although CELR has since fallen, it is still above the parabolic support line. In addition, the technical indicators have not yet set a downward trend.
If CELR manages to retake the $ 0.155 zone, it will likely head towards $ 0.24.
Daily CELR / USDT Chart | Source: TradingView
COTI has moved up since breaking the descending resistance line and confirming it as support on Sep 7th (green symbol).
On September 23, the price broke above the $ 0.48 resistance area and subsequently confirmed it as support. The uptrend continued, leading to a new all-time high of $ 0.68 on September 29th.
MACD and RSI are both rising.
If COTI continues to rise, the next resistance will be at $ 0.91. This is the Fibonacci retracement resistance level outside of 1.61.
COTI / USDT daily chart | Source: TradingView
XDB has been on the rise since early July. On September 15, it hit an all-time high of $ 0.69. The high was taken just above the external fib retracement level of 4.618 when measuring the recent decline. This level often acts as the top for bullish stimulus.
The technical indicators are gradually turning down as both the RSI and MACD are trending down, with the former only falling below 50.
If XDB continues to decline, the next support will be at $ 0.28. This is the 0.618 fib retracement support and coincides with a rising support line since the July lows.
Daily XDB / USDT chart | Source: TradingView
OMG has risen along with the ascending support line since July 20th. It hit a high of $ 10.30 on September 6 but failed to break above the 0.618 fib retracement resistance at $ 10.60.
After many unsuccessful attempts, it finally broke out on September 30th. The breakout was supported by both the RSI and the MACD, which are both emerging.
The next area of resistance is at $ 15.33.
OMG / USDT daily chart | Source: TradingView
ATOM has risen along with the parabolic ascending support line since June 21st. The upside movement hit a new all-time high of $ 44.80 on September 20th.
The high is reached at the outer fib retracement level of 1.61 (black) and the length of waves 1-3 (orange) of 1.61. This is the level that is likely to end the uptrend.
Additionally, ATOM appears to be about to break below the parabolic ascending support line, which would confirm that the uptrend is over.
ATOM / USDT daily chart | Source: TradingView
ALGO has been moving up since it broke over a descending wedge on Aug. 8. The move up followed an increasing support line.
On September 13, ALGO hit an all-time high of $ 2.55. The high came just above the external fib retracement resistance at 1.61. Since then, the token has moved down, falling below the $ 1.80 horizontal zone.
The next area of support is at $ 1.30, which coincides with the ascending support line.
Daily ALGO / USDT chart | Source: TradingView
The HBAR has risen since breaking the descending parallel channel and confirming it as support on September 7th (green icon). This resulted in a new all-time high of $ 0.574 on September 16.
The HBAR has since fallen, the decline also aided by a decline in the MACD.
It has now ricocheted off the 0.618 fib retracement support at $ 0.30 and is likely to start a short term uptrend.
However, the long-term trend could be bearish.
Daily HBAR / USDT Chart | Source: TradingView
SOL has been on the rise since June 2nd. The upward move accelerated in July and the token hit a new all-time high of $ 216 on September 9th.
Similar to XDB, the high was made very close to the outer Fib retracement level of 4.61, which often acts as the top for upside moves.
Therefore, SOL’s uptrend could be over.
Daily SOL / USDT chart | Source: TradingView
NEAR has been moving higher since July 21st. It broke the $ 7.40 resistance area on September 7th and hit an all-time high of $ 11.88 on May 9th.
Since then, however, the token has fallen below the $ 7.40 region that is expected to serve as support.
The next support zone is at $ 5.50. This is both the 0.618 Fib retracement support level and the horizontal support area.
Both the RSI and the MACD are turning down, which supports the continuation of the downtrend.
NEAR / USDT daily chart | Source: TradingView
IOST has risen along with the ascending support line since July 20th. This resulted in a high of $ 0.087 on September 9th.
The token has since fallen. This is supported by the MACD and the RSI, which both fall.
However, it has returned to the rising support line. As long as this support line holds, the bullish structure will remain intact.
IOST / USDT daily chart | Source: TradingView
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Beincrypto