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BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from March 17 to 24.
The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These altcoins have stolen the crypto news and cryptocurrency market spotlight:
- Mask Network (MASK) price has increased by 45.38%
- XDC Network (XDC) price has increased by 17.32%
- Ripple XRP price has increased by 17.12%
- Dash (DASH) price has increased by 15.41%
- Stacks (STX) price has increased by 13.32%
Mask Network (MASK) Leads Crypto Market Altcoin Gainers
The MASK price has increased sharply since November 2022. While the rally stalled below the $5.95 resistance area, the price has finally broken out from it. It is currently in the process of validating it as resistance. If the increase continues, the next closest resistance area would be at $13.80.
However, if the utility token falls back below the $5.90 area, it could drop to $2.90.
XDC Network (XDC) Altcoin Price Breaks out
The XDC price has increased since the beginning of the year, creating a higher low in March. This caused a breakout from the $0.036 resistance area and a new yearly high of $0.047 on March 21.
However, the price created a long upper wick and has fallen slightly since. It seems to be in the process of validating the $0.036 area once more.
If the price regains its strength, it could retest the $0.047 area again.
Ripple XRP Breaks out From Resistance
The XRP price broke out from a descending resistance line on March 21. The price reached a new yearly high of $0.493 before falling. Then, the price validated the $0.430 area as support before bouncing.
If the increase continues, the next closest resistance area would be at $0.505.
However, if the crypto asset closes below $0.430, it will put the entire upward movement at risk and could cause a drop to $0.30.
Dash (DASH) Price Reclaims Previous Support
The Dash (DASH) price bounced at the $48 support area on March 14, initiating the current upward movement. It reclaimed an ascending support line on March 23.
Currently, the digital asset trades at the 0.618 Fib retracement resistance at $65. If it breaks out, the price could increase to the next resistance at $75. However, if a rejection follows, DASH could drop to $48.
Stacks (STX) Price Might Have Reached a Top
The Stacks price has increased significantly since the beginning of the year. It reached a new yearly high of $1.31 on March 20.
However, the high was combined with bearish divergence in the daily RSI (green line). Moreover, the price may have completed wave three of a five-wave upward movement (white).
If so, a drop to the 0.5-0.618 Fib retracement support levels at $0.63-$0.76 could occur. On the other hand, a close above $1.31 would invalidate this bearish forecast. In that case, the STX price could increase toward $1.80.
For BeInCrypto’s latest crypto market analysis, click here.