Cryptocurrencies have left another volatile week behind. As we reported on Kriptokoin.com, while the leading cryptocurrency Bitcoin (BTC) remained below $ 20 thousand, some altcoin projects stood out with their performance. Here are the top 5 altcoin projects of the past week and the expectations for the new week.
Altcoin in the first place of the list: Quant (QNT)
QNT broke from a long-term descending resistance line at the beginning of June. It has been moving upwards ever since. However, the upward move follows an ascending support line. The altcoin has so far reached the $145.8 level. QNT has entered the key resistance area up to its all-time high price. The altcoin has reached the long-term $145 horizontal resistance area. Therefore, a move above this could greatly accelerate the rate of increase towards $283, the 0.618 Fib retracement resistance level.
Maker (MKR)
The MKR has been declining in a descending wedge since August 2021. The wedge is considered a bullish pattern. So a final break with it would be the most likely scenario. However, both the resistance and support lines of the wedge have been confirmed many times and the legitimacy of the pattern has been increased. The price bounced off the wedge support line on Sept. 21 and has been rising ever since. If it manages to break out of it, the next closest area of resistance will be $2,000.
Altcoin Helium (HNT) ranked 3rd on the list
HNT has been rising alongside an ascending support line since Sept 6th. The line has been verified three times (green icons), most recently on September 28. Combined with the $5.40 resistance area, this creates an ascending triangle that is considered a bullish pattern. However, the HNT was rejected by the resistance area on September 30 (red icon). A break from the support line or break above the $5.40 resistance of HNT will likely determine the direction of the future trend.
Uniswap (UNI)
UNI bounces after the completion of the downward move. As of July 28, UNI completed a five-wave downward move that led to a low as low as $5.14 on September 21. The price has been moving upwards since then. It has reached a high of $6.76 so far. UNI is currently facing resistance at $6.80. If it succeeds in trading above it, the next closest resistance area will be $8.15.
Altcoin at the bottom of the list: Chainlink (LINK)
LINK has been rising inside an ascending parallel channel since August 28. However, the movement within it led to a high of $8.54 on September 28. However, LINK was rejected by the resistance line of the channel and the 0.618 Fib retracement resistance level. This created a long top wick (red icon) in the process. Currently, LINK is approaching the middle of the channel at $7.50. As ascending parallel channels often contain corrective moves, an eventual deterioration from it would be the most likely scenario. The chances of this happening will increase further with a move below this channel.
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