A remarkable development took place this week with the signing of a temporary agreement on the US debt crisis. According to crypto expert Christian Encila, this adds a degree of optimism for the top 5 altcoins that are expected to rise. The analyst says that these altcoins have the potential to bring more returns to investors in the current market environment.
The first altcoin project Neo (NEO))
cryptocoin.comAs you follow, NEO has been one of the top 5 cryptos in the past weeks. According to Coingecko data, the token is flashing green in all time frames. Also, NEO has increased by about 20% in the last two weeks. This comes after Neo’s partnership with Alchemy Pay enables consumers to purchase crypto with their preferred local fiat currency.
At the time of writing, the bulls managed to turn the $10.21 resistance to support. Therefore, investors and traders should try to hold this support level at all costs. With the bulls exhausted after a major price move, we could see NEO oscillate above this support before targeting $13.5 in the coming days or weeks.
Second on the list is IOTA (MIOTA)
IOTA is enjoying the market uptrend. Thus, it provides impressive returns for investors. The latest market data shows that the token in our top 5 altcoins list has risen 14% on the weekly timeframe to become one of the biggest gainers. The current price action is due to IOTA Co-Founder Dominic Schneider and UAE Minister of State for Foreign Trade Dr. Thani Zeyoudi to discuss how IOTA Blockchain can help the country’s digital ecosystem.
IOTA bulls are currently exhausted as a result of the strong uptrend over the past few days. However, the current market environment allows investors and traders to target $0.27689 in the coming weeks. If the bulls manage to break through this resistance level, it will open the token’s path to higher gains.
We don’t forget Arbitrum (ARB) either.
Arbitrum (ARB) ranks third on today’s top 5 altcoins list. Management token ARB has risen more than 11% since last week. Recent on-chain developments in Arbitrum have contributed to the broader rise in the market.
ARB is currently on an upward trajectory. This puts it directly ahead of the $1.31 resistance. A turn of this resistance level into support will open a path to higher levels in the days and weeks ahead. However, any drop jeopardizes the token’s earnings. Therefore, it is prudent for investors and traders to be cautious.
The fourth altcoin project Huobi Token (HT)
Huobi has constantly struggled for market share dominance in the centralized stock market. Recently, the exchange released a weekly report showing that users and traders on the platform continue to grow even as the market corrects itself. This has made HT one of the biggest earners on the market with an impressive 12% gain.
HT traders need to be careful right now. Because the altcoin’s recent price movements make it a prime target for bears. Maintaining HT’s current support at $2.8 in the coming days will be crucial for investors to continue targeting the $3.7 resistance.
Latest altcoin Injective (INJ)
Complementing today’s top 5 altcoins list is Injective (INJ). With Injective’s Avalon main-net upgrade coming this week, INJ is heading towards higher earnings. According to Coinecko, the altcoin has gained about 16% in the last two weeks. Thus, INJ has become one of the biggest earners in the market.
At the time of writing, INJ bulls are attempting to settle above the $6,895 support. If this support level holds, it will enable INJ to target a higher price. Therefore, consolidation at this level is essential before pursuing a larger upside swing.
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