In the gleam of a drastic price movement expressed in BTC recently when it slipped below the $12,000 mark, major altcoins are seen to be moving sideways lately. Altcoins like LEND and SNX are leading the top gainers’ list with decent profits accrued over the last 24 hours.
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As this may seem possible to proceed in the short term, growth in bitcoin price may encourage sellers to short these thriving altcoins and bring their prices down imminently.
Amid a generally sideways moving crypto markets, some cryptocurrencies have chosen to nurture the downtrend.
#1. Aave (LEND 24.0% Gain):
Having performed brilliantly within the last year with around 14,000% profit, the coin gathered earnings last month with 92.1%. Also, last week, LEND gained around 32%. The cryptocurrency is down 0.1% in the last hour.
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Now changing hands at $0.74, it looks like the market understanding is bullish in the short term. 85% of market respondents are bullish while 15% remain bearish on LEND.
Technical Indicators
LEND/USD looks bullish with prices soaring above the top of the Bollinger Band. There’s an apparent price increase above the Bollinger top where prices may head to the $0.8 level.
* Next major resistance lies at $0.8
* Next key support level at $0.75
* RSI penetrated the 70.0 level and further move upwards seems highly possible.
#2. Synthetix Network Token (SNX 10.7% Gain):
SNX grabs first place in this wave of gainers’ list. The coin gains around 10.7%.
SNX received some profit within the week unfailingly. The coin advanced by 60.6% within the last 7 days. Also, in the one-month timeframe, SNX earned 125% and still gains roughly 2,527% within the last year.
Technical Points
Prices spiked through the $6.40 level and returned to it shortly after. Building a string of support at the point, SNX established tough support at $6.3 level. With the immediate resistance at $7.0 the next key support lies at $6.5
* Next key support at $6.5
* Next key resistance at $7.0
* RSI broke through the 70.0 level upwards. A little retracement to 50.0 is imminent.
#3. DigiByte (DGB 4.1% Gain):
As DigiByte made a spot on today’s market watch list, the top cryptocurrency made a 4.1% gain within the last day.
DigiByte’s market excitement is extremely bullish. 83% of voters responded positively to a bullish probability. In the short-term, nonetheless, it seems the price of DGB may have to surge higher.
DGB is getting a kick out of a bull ride since last year. The coin is up by 216% since last year and by 20.5% in the last one month. 7-day losses record 20.0% as the coin gains around 0.2% in the last hour.
DGB is now changing hands at $0.0343 amid a 24-hour market cap of $394 million.
Technical Points:
* RSI fibs around 40.0 bearish level
* Next key resistance at $0.040
* Next major support level at $0.030