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BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from April 7 to 14.
The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These bullish cryptos have stolen the crypto news and cryptocurrency market spotlight this week:
Woo Network (WOO) Price Leads Altcoin Gainers
The WOO price has increased since April 9. The cryptocurrency price broke out from the $0.26 horizontal resistance area on April 14, creating a large bullish candlestick.
If the increase continues, the next resistance would be at $0.39, an increase of 38% from the current price. The upward movement is supported by the daily RSI, which has moved above 50.
However, WOO could return to the $0.26 support level if the rally loses steam.
Arbitrum (ARB) Price Approaches All-Time High
The ARB price broke out from the $1.27 resistance area on April 13 and reached a high of $1.59 the next day. This is very close to the all-time high price.
If the increase continues, ARB can move to the 1.61 external Fib retracement at $1.66 (white). This would be a new all-time high.
However, if the rally loses steam, the digital asset can drop to the $1.43 support.
Render Token (RNDR) Price Breaks out From Resistance Line
The RNDR price broke out from a descending resistance line on April 10. The breakout was also combined with a RSI movement above 50 (green circle). The bullish crypto reached a high of $1.70 two days later. Currently, the price trades below the $1.70 horizontal and Fib resistance area.
If RNDR breaks out, it could move to the next resistance at $2.15. However, if it gets rejected, a decrease to the resistance line at $1.10 could follow.
Solana (SOL) Price Approaches Resistance
The SOL price has increased since March 10. It created a higher low on April 9 before accelerating its rate of increase. The price is now approaching the $26 resistance area. If it breaks out, the next resistance would be at $36.
However, if the price gets rejected, it could fall to the $20 support level.
Injective (INJ) Altcoin Clears Resistance
The INJ price has increased since breaking out from an ascending resistance line and validating it as support on April 6 (green icon). The increase accelerated afterward, and the price cleared the $6.50 resistance region on April 12.
If the upward movement continues, the next resistance would be at $9.80. However, if the price falters, a retest of $6.50 could be on the cards.