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The total market cap for the cryptocurrency market dropped 1.12% during the past 24 hours. This brought the total down to around $1.04 trillion, according to CoinMarketCap. While the majority of the cryptocurrency market suffered a drop in value, CRV, AXS, CFX, and APT were able to break free from the overwhelming trend.
Curve DAO Token (CRV)
CRV continued its weekly streak with an impressive gain over the past 24 hours. Data from CoinMarketCap indicated that the altcoin saw its price rise 8.11% throughout the past day of trading. Subsequently, CRV’s weekly performance was pushed deeper into the green zone to +16.45%. At press time, CRV was valued at $0.5105.
From a technical standpoint, CRV was trading below the $0.5140 resistance level. It had broken above this barrier earlier in today’s trading session to reach a high of $0.5336 but retraced to trade at its current level.
Despite the slight pullback today, the altcoin’s price was still trading above the 50-day EMA line, which was situated at $0.4958. Notably, the 9-day EMA line crossed above the 20-day EMA line throughout the past 48 hours. This suggested that short-term momentum had shifted in favor of buyers.
Should this technical flag be validated, CRV’s price may flip the $0.5140 resistance level into support. Thereafter, a daily candle close above this barrier may pave a pathway for the altcoin’s price to continue its ascent to the next key resistance level at $0.5945.
On the other hand, CRV failing to close a daily candle above $0.5140 in the coming 48 hours may lead to the cryptocurrency falling to the next support level at $0.4515. Continued sell pressure may also force the altcoin below this mark to the subsequent support at $0.3975 in the following few days.
Aptos (APT)
Ranked as the 34th biggest crypto project by market cap, APT recorded a 6.42% 24-hour gain. This standout daily performance was also enough to bring the cryptocurrency’s weekly performance out of the red zone as well. As a result, APT was up 3.27% over the past 7 days. This latest price movement elevated APT’s price to $5.44.
APT was attempting to break out of a negative price channel that had formed on its chart over the past couple of weeks. Should it close today’s daily candle above this descending price channel, then it may continue to rise to the next resistance level at $6.1635 in the following week.
If APT breaks above this barrier, then it could have the momentum needed to reach the next threshold at $6.8850. Conversely, if the altcoin fails to close today’s trading session above the current price channel, then it may drop below the $4.8690 support level in the following 24-48 hours.
If this potential sell pressure persists, the altcoin’s price may attempt a challenge at the lower level of the negative price channel. A break below the negative channel may be followed by APT dropping to $3.9410.
Axie Infinity (AXS)
At press time, AXS was changing hands at $2.60 following a 4.19% price increase throughout the past day of trading. Similar to APT, this positive daily performance was enough to flip the cryptocurrency’s weekly performance out of negative territory. Subsequently, AXS was up 1.95% on the weekly timeframe.
A symmetrical triangle had formed on the daily chart for AXS/USDT. This chart pattern suggests that a price breakout may soon take place. Should this move be towards the downside, then AXS may break below the next support level at $4.55. Thereafter, the altcoin’s price could drop to $4.05 within the following 2 weeks.
Conversely, a positive breakout may lead to AXS climbing to the $5.20 resistance level. A potential early indication of which direction AXS could break could be if AXS is able to remain above the $4.55 mark.
Should AXS maintain a position above this level for the next 48 hours, then it may suggest that the cryptocurrency’s price will break out towards the upside. Conversely, AXS dropping below this level through the course of the next 48 hours may indicate that it will enter a bearish move toward the aforementioned $4.05 support.
Conflux (CFX)
CFX was also able to record a 24-hour gain and saw its price rise by 1.13% over the past 24 hours. As a result, the cryptocurrency’s price was boosted to $0.1262 at press time. Along with the price increase, CFX also experienced a 27.05% uptick in its 24-hour trading volume. At press time, CFX’s daily volume was estimated to be $12,146,662.
CFX had been in a consolidation phase between $0.1090 and $0.1400 over the past 3 weeks. The altcoin’s price had rebounded off of the lower level of this sideways channel on 11 September 2023 and has since been in a positive move towards the upper level of the consolidation channel.
Should this bullish momentum continue and CFX’s price continues to rise in the next few days, then it may attempt a challenge at the $0.1400 mark. Thereafter, a daily candle close above this threshold may clear a path for CFX to continue to climb to $0.1517 through the course of the following week.
On the other hand, if CFX drops towards the $0.1090 support again in the coming week, then it may be at risk of breaking out below the channel. This could then open up the possibility of CFX dropping towards the $0.0870 benchmark in the following fortnight.
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