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.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.
Source: https://beincrypto.com/top-5-altcoins-rode-wave-this-week/