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BeInCrypto looks at five altcoins that increased the most from the entire crypto market this week, specifically from Jan. 20 to 27.
These popular altcoins have stolen the crypto news and cryptocurrency market spotlight:
- Threshold (T) price increased by 150.28%
- Aptos (APT) price increased by 135.77%
- Fantom (FTM) price increased by 57.41%
- eCash (XEC) price increased by 43.41%
- Axie Infinity (AXS) price increased by 39.67%
Threshold Leads Crypto Market Altcoin Gainers
On Jan. 13, the T price broke out from a descending resistance line. Three days later, it reached a high of $0.065. However, it created a long upper wick and currently trades at $0.053.
Therefore, the price failed to break out above the $0.053 area, which has been in place since May 2022.
If it successfully breaks out, the next resistance would be at $0.082. On the other hand, a rejection could lead to a drop toward the 0.5-0.618 Fib retracement support area at $0.034-$0.040.
Aptos Price Reaches New All-Time High
The APT price has increased by 493% since the beginning of the year. On Jan. 26, it reached a new all-time high of $20.400. The high was made very close to the 2.61 external Fib retracement of the previous drop (white). The same day, the price created a bearish shooting star candlestick.
If a downward movement follows, the closest support area would be at $13.202. On the other hand, if the APT price resumes its upward trend, it could increase to the 3.61 external Fib retracement at $28.565.
Fantom Clears Major Resistance
The FTM price has increased at an accelerated rate since deviating below and then reclaiming the $0.20 horizontal support area. This price movement was preceded by bullish divergence in the RSI. The indicator has now moved above 50, indicating a bullish trend.
Currently, the digital asset is in the process of reaching a weekly close above the $0.41 resistance. If it does this, it could increase to the next resistance at $1.10.
On the other hand, a weekly close below $0.41 could lead to a retest of the $0.20 support area.
Axie Infinity Clear Major Resistance
The AXS price broke out from a descending resistance line on Jan. 6. It has been increasing since, and on Jan. 22 it moved above the $10 horizontal resistance area. The area is now expected to provide support.
Despite the breakout, the crypto asset failed to clear the 0.618 Fib retracement resistance level at $14.29. If it successfully moves above the $14.29 resistance area, the AXS price could increase to $20.65. On the other hand, failure to do so would likely lead to a retest of the $10 support area.
eCash Altcoin Struggles With Resistance
Similarly to APT and AXS, the eCash price also broke out from a descending resistance line on Jan. 23. The upward movement has continued since, and the XEC price reached a high of $0.000045 three days later.
However, the price failed to break out from the $0.000045 resistance area and created a long upper wick. A successful breakout could take the XEC price to $0.000060, while a rejection could cause a drop to $0.000030.
For BeInCrypto’s latest crypto market analysis, click here.