5 Altcoins That Outperformed the Crypto Market This Week
BeInCrypto looks at five altcoins that rose the most in this week’s crypto market, specifically from 10 to 17 March.
These altcoins have stolen the crypto news and spotlight in the cryptocurrency market:
- Conflux (CFX) price has increased by 101.36%
- Stacks (STX) price has increased by 85.04%
- SingularityNET (AGIX) price has increased by 55.81%
- ImmutableX (IMX) price has increased by 54.53%
- The price of Render Token (RNDR) has increased by 40.46%
Conflux (CFX) Rate Leads Crypto Market Altcoin Gainers
Conflux (CFX) price has rallied since bouncing off the $0.145 horizontal support area on March 11. The price broke out from a descending resistance line two days later.
On March 15, the digital asset hit a high of $0.366 but made a long upper wick (red icon). Relative to the price on February 20, this created a double top, which is considered a bearish pattern.
If a downward move follows, the CFX price may fall back to the $0.145 support area. However, if the increase continues, the CFX price may increase to $0.511.
Stacks (STX) creates double top pattern
Like CFX, the STX price has formed a double top pattern (red icons). This was characterized by a very long upper week on 15 March.
If a downward move follows as a result, the crypto asset could fall to the 0.618 Fib retracement support level of $0.73.
However, if the previous increase continues, the STX price could rise to $1.50.
SingularityNET (AGIX) Price Makes Breakout Attempt
The AGIX price has fallen below a descending resistance line since February 8. The line has caused three rejections so far (red icons).
The move below the resistance line looks like a completed ABC corrective structure. As a result, a breakout from the line is expected. If that happens, the assist symbol can increase to $0.90.
However, if the line rejects the AGIX price again, a drop to $0.29 could follow.
ImmutableX (IMX) price clears key resistance
The IMX price has risen rapidly since March 11. The price broke out of the $1.25 resistance area on March 17, but has yet to reach a close above it. If the rise continues, the next resistance will be at $1.86. However, if the price closes below $1.25, a retest of the $0.90 decline could follow.
Render Token (RNDR) complete patching
The RNDR price has fallen since breaking out of a parabola on February 8. The decline led to a low of $0.89 on March 19.
The price has since rallied, potentially indicating that it completed an ABC corrective structure. This will be confirmed with a breakout from the descending resistance line and could lead to a high of at least $2.
However, if another rejection occurs, RNDR could fall to $0.75.
For BeInCrypto’s latest crypto market analysis, click here.
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