Be[in]Crypto takes a take a look at the 5 cryptocurrencies that elevated essentially the most final week, extra particularly, from Sept 9. to Sept 16.
These cryptocurrencies are:
- Terra (LUNA): 43.78%
- Celsius (CEL): 32.34%
- Ravencoin (RVN): 18.40%
- Kyber Network Crystal (KNC): 4.65%
- Compound (COMP): 3.88%
LUNA
LUNA was topic to an enormous upward motion on Sept. 9, growing by 310% the identical day and reaching a excessive of $7.66. However, the upward motion couldn’t be sustained and LUNA created a really lengthy higher wick the identical day.
The value has been falling since and has almost misplaced all of its beneficial properties from the aforementioned upward motion.
A breakdown under the $2.20 space might take the worth to new all-time lows.
CEL
On Aug. 6, CEL broke out from a descending resistance line that had been in place since Sept. It proceeded to succeed in a excessive of $4.63 earlier than falling.
Even although CEL bounced on the earlier resistance line (inexperienced icon), it failed to interrupt out from the $2.10 horizontal resistance space (pink icon).
Unless CEL manages to reclaim the $2.10 resistance space, the development can’t be thought of bullish.
RVN
RVN has been reducing inside a long-term descending parallel channel since Aug. 2021. The downward motion has led to a low of $0.017 in June 2022. The value has been growing since and managed to reclaim the center of the channel on Aug 5.
Afterward, RVN accelerated the speed of enhance and reached a excessive of $0.077 on Sept. 14. This validated the resistance line of the channel (pink icon) and initiated the present downward motion.
Nevertheless, an eventual breakout from the channel is probably going.
KNC
KNC has been growing inside an ascending parallel channel since July 11. Such channels normally include corrective actions, which means that an eventual breakdown from the channel could be probably.
Additionally, the motion contained in the channel has been extraordinarily uneven, aligning with the chance that it’s corrective.
KNC reached a excessive of $2.15 on Sept. 15. The excessive validated the resistance line of the channel and the 0.618 Fib retracement resistance degree.
Due to those causes, an eventual breakdown from the channel appears probably.
COMP
COMP had been growing inside an ascending wedge since reaching a backside on May 19. The upward motion led to a excessive of $71.50 on Aug. 10. However, the worth has been falling since and broke down from the wedge 5 days later.
While COMP did provoke a bounce, it was rejected by the 0.618 Fib retracement resistance degree at $61.
Due to this rejection, it’s potential that the bounce was a part of the B wave and COMP has now begun the C wave that can take it in direction of the $37.50 horizontal assist space.
For Be[in]Crypto’s latest Bitcoin (BTC) evaluation, click on right here
The post Terra, Celsius, Ravencoin, Kyber Network and Compound – Biggest Weekly Gainers appeared first on BeInCrypto.