BeInCrypto looks at five altcoins that increased the most from the entire crypto market this week, specifically from Feb. 10 – 17.
These popular altcoins have stolen the crypto news and cryptocurrency market spotlight:
Astar (ASTR) Leads Altcoin Crypto Market Gainers
The Astar price has increased rapidly since the beginning of the year. However, it created a double top pattern with two long upper wicks near $0.110. Such double tops are considered bearish patterns and often lead to price reversals.
Moreover, the pattern was combined with a bearish divergence in the RSI (green line). Therefore, a drop toward the 0.5 Fib retracement support level at $0.077 may occur.
On the other hand, if the increase continues, the ASTR price could move to $0.140.
ASTR/USDT 12-Hour Chart. Source: TradingView
Mina (MINA) Price Fails to Clear Resistance
The MINA price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $1.25 on Feb. 16.
However, the price failed to close above the $1.16 resistance area. Rather, it reached a close below it. If the downward movement continues, MINA could fall to the $0.96 horizontal support area.
However, if the price reached a close above $1.16, it could increase to $1.45.
MINA/USDT Daily Chart. Source: TradingView
BinaryX (BNX) Trades Inside Resistance
The BNX price has increased rapidly since the beginning of the year. It reached a high of $184.29 on Feb. 13. However, it created a bearish engulfing candlestick and fell the day after.
If the price breaks out above the resistance area, it could increase to $230. However, if it fails to do so, a fall toward $132.50 could follow.
BNX/USDT Daily Chart. Source: TradingView
MAGIC (MAGIC) Reaches New All-Time High
The MAGIC price fell after reaching a high of $2.20 on Feb. 6. However, it regained its footing on Feb. 13 and reached a new all-time high of $2.33 on Feb. 16.
If the increase continues, the digital asset could move toward $2.75. However, if a reversal occurs, the price could fall to the $1.50 support area.
MAGIC/USDT Daily Chart. Source: TradingView
Loopring (LRC) Altcoin Price Approaches Resistance
The Loopring price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $0.49 on Feb. 16.
However, the token has not broken out from the $0.50 resistance area. The trend can only be considered bullish once it does. If a breakout occurs, the LRC price could increase to $0.65. If it gets rejected instead, a fall to $0.34 may follow.
LRC/USDT Daily Chart. Source: TradingView
For BeInCrypto’s latest crypto market analysis, click here.
BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.