Huobi Token (HT) topped the list of top earners in the week from October 7 to October 14, driven by the Tron news. In the continuation of the article, let’s list the altcoin project that made the most profits in this time period. Analyst Valdrin Tahiri identifies the next resistance levels for the continuation of the trend as Bitcoin falls.
- Huobi Token (HT) 87.30%
- Quant (QNT) 22.56%
- Ethereum Name Service (ENS) 19.39%
- OCD (OCD) 11.70%
- Terra (LUNA) 9.07%
Here are the top 5 altcoins that made the most as Bitcoin fell this week
Huobi Token price started a major bullish move on October 19. It gained around 85% in just five days. Price action ends at $8.20. After strong momentum, the $8.10 horizontal resistance area did not allow any continuation. HT recorded a long top wick while testing it. The $8.10 area previously acted as support since November 2021. Therefore, it is considered a critical level. Until HT price manages to break above it, the trend cannot be considered bullish. Analyst Valdrin Tahiri thinks a move above this area will accelerate the momentum.
Quant price recaptures vital $145
On June 19, QNT price broke out of a descending resistance line. Previously, the line was in place since the ATH level. Breakouts from such long-term structures often precede a significant upward move. On October 14, the price of Quant reached a new year high of $176.30. The high was above the $145 horizontal area. Now, the $145 area is expected to provide support while the $190 area is expected to act as resistance.
ENS price tested $20 this week as the altcoin market was sluggish
The wave count shows that ENS price started a five-wave upward move on June 14. On October 4, Ethereum Name Service price broke out of a symmetrical triangle. Thus, he confirmed the end of the fourth wave. Therefore, the continued increase is part of the fifth wave. Currently, ENS price is trading within a mix of the 0.618 Fib retracement resistance (white) and the Fib resistance levels formed by the 0.618 length wave one and three (black). If ENS price succeeds in breaking above this, the next resistance will be between $23.40 and $24.50.
OKB price struggles with resistance
OKB price has been rising inside an ascending parallel channel since Sept. Such channels often contain corrective actions. Its price started an upward move after it bounced off the support line of the channel on October 10. He is currently trying to rise above his midline. The resistance line of the channel is at $19.32. It also coincides with the 0.618 Fib retracement resistance level. As a result, the price will likely be rejected once it gets there.
Terra LUNA price could break soon
Similar to the OKB price, the LUNA price has been trading in an ascending parallel channel since Sept. 27 as Bitcoin fell. It attempted to break out of this price on October 12, but was unsuccessful. Now, Terra LUNA price is in the process of falling below the middle of the channel. Analyst Tahiri says a final collapse is imminent as a result of these moves.
cryptocoin.comAs you follow, Binance has announced that it will support the community’s LUNC burning efforts. This news was enough to put LUNC among the top-earning altcoins.
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