beincrypto.com
As October draws to a close, the crypto market has seen some unexpected names rise to the top, with small caps and meme coins taking center stage.
BeInCrypto has analyzed this week’s top altcoin gainers, led by the coin of the week, Goatsues Maximus (GOAT).
Goatseus Maximus (GOAT)
GOAT has seen an impressive 210% rise over the past week, with this surge leading to a new all-time high of $0.902. The cryptocurrency’s rapid growth has caught investor attention, making it one of the top-performing tokens in recent days.
Currently, GOAT is consolidating above the $0.640 support level while remaining below the $0.904 resistance. This range suggests the altcoin is poised for further gains, with the potential to form new all-time highs if it maintains momentum.
However, should investors decide to cash in on recent gains, GOAT may experience a correction. If the support at $0.640 fails, the token could drop to $0.466, potentially erasing a portion of its recent gains. This level would signal a shift in sentiment, with further declines possibly invalidating the bullish outlook for GOAT.
Safe (SAFE)
SAFE saw a significant 58% increase over the past week, bringing its trading price to $1.48, with intra-week highs reaching $1.87. This surge highlights strong investor interest and optimism in the altcoin. SAFE’s recent price action has positioned it among the top altcoin gainers in the current market environment.
Currently, SAFE is holding above the crucial $1.30 support level, with eyes on breaching and flipping $1.64 into a stable support floor. Achieving this would open the path for a rise back to $1.87 and potentially higher, reinforcing the positive momentum built over the past week.
But, if SAFE loses the $1.30 support, a drop to $1.10 could follow, risking recent gains. Such a decline could shift sentiment, with further losses challenging the current bullish outlook.
Raydium (RAY)
RAY experienced a nearly 40% increase in the past week, with the altcoin now trading at $3.01. This strong upward movement has positioned RAY to test the resistance at $3.33, a critical level for continued growth.
A successful flip of the $3.33 resistance into support could drive further gains for RAY, signaling a stable foundation for additional growth. Establishing this support level may also reduce selling pressure as investors hold their positions, expecting continued bullish performance.
Nevertheless, if selling pressure builds, RAY could face a retracement to the $2.71 support level. Losing this level would likely push RAY further down to $2.45, potentially invalidating the current bullish outlook.