Bitcoin Magazine will analyze last week’s top 5 altcoin winners to see if their momentum can continue or not?
Last week’s five biggest altcoin winners were:
- Axie Infinity (AXS): 131.61%
- OMG Network (OMG): 88.08%
- Qtum (QTUM): 39.79%
- SYMBOL (ICX): 36.43%
- Tezos (XTZ): 35.86%
AXS has risen since September 23, when it broke above the descending resistance line for the first time. The breakout is supported by the RSI and the MACD, both of which are bullish.
On October 4th, AXS hit a new all-time high of $ 153.79. The closest resistance is at 169. This is the outer Fibonacci retracement resistance at 2.61 when measuring the recent decline.
Daily AXS / USDT Chart | Source: TradingView
OMG has risen along with the ascending support line since July 20th. Between September 6 and September 20, it struggled to move above the $ 0.618 fib retracement resistance level at $ 10.60.
However, it eventually managed to break out on October 2nd and hit a new all-time high of $ 17.98 the next day.
The breakout is supported by the RSI and the MACD, both of which are bullish.
The next resistance is at $ 23 which is the external fib retracement resistance at 1.61.
OMG / USDT daily chart | Source: TradingView
QTUM has been moving up since it broke over a descending wedge on September 30th. The upside continued to hit a high of $ 14.68 on October 3rd.
QTUM was rejected when it reached this region and has declined slightly since then. The decline was also supported by the MACD and RSI, both of which are falling.
However, the movement after the breakthrough over the wedge appears impulsive. Hence, it is likely that QTUM will resume its uptrend after the short-term pullback completes.
QTUM / USDT 4-hour chart | Source: TradingView
On September 15, ICX hit a high of $ 2.22. However, it was rejected from the $ 2.15 resistance area and retreated shortly afterwards.
On October 3, ICX hit a high of $ 2.36 but fell below the $ 2.15 zone again. This created a double top, which is accompanied by a declining divergence of the RSI and the MACD.
Until ICX manages to recapture the $ 2.15 zone, the trend cannot be viewed as bullish.
ICX / USDT daily chart | Source: TradingView
XTZ has been moving up along the ascending support line since July 17th after failing to hit a new all-time high on September 14th, it broke out on October 3rd and continued to hit levels, the new all-time high is at USD 9.17.
The breakout is supported by the MACD and the RSI, the second shift is both bullish. The next resistance is at $ 12.22. This is the external fib retracement resistance of 1.61.
Daily XTZ / USDT 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