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BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from March 10 to 17.
These altcoins have stolen the crypto news and cryptocurrency market spotlight:
- 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%
- Render Token (RNDR) price has increased by 40.46%
Conflux (CFX) Price Leads Crypto Market Altcoin Gainers
The Conflux (CFX) price has increased since bouncing at 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 reached a high of $0.366 but made a long upper wick (red icon). Relative to the price on Feb. 20, this created a double top, which is considered a bearish pattern.
If a downward movement follows, the CFX price could fall back to the $0.145 support area. However, if the increase continues, the CFX price could increase to $0.511.
Stacks (STX) Creates Double Top Pattern
Like CFX, the STX price has created a double top pattern (red icons). This was characterized by a very long upper wick on March 15.
If a downward movement follows as a result, the crypto asset could fall to the 0.618 Fib retracement support level at $0.73.
However, if the previous increase continues, the STX price could increase to $1.50.
SingularityNET (AGIX) Price Makes Breakout Attempt
The AGIX price has fallen under a descending resistance line since Feb. 8. The line has caused three rejections so far (red icons).
The movement below the resistance line looks like a completed A-B-C corrective structure. As a result, a breakout from the line is expected. If that occurs, the utility token could 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 increased rapidly since March 11. The price broke out from the $1.25 resistance area on March 17 but has yet to reach a close above it. If the increase continues, the next resistance would be at $1.86. However, if the price closes below $1.25, a retest of the $0.90 lows could follow.
Render Token (RNDR) Completes Correction
The RNDR price has fallen since breakout down from a parabola on Feb. 8. The decrease led to a low of $0.89 on March 19.
The price has increased since, potentially indicating that it completed an A-B-C corrective structure. This would 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.