5 Altcoins Overtaking the Crypto Market This Week

BeInCrypto looks at the five altcoins that gained the most in the crypto market this week, notably March 10 to 17,

These altcoins have stolen the crypto news and cryptocurrency market spotlight:

  1. Conflux (CFX) has gained 101.36% in price
  2. The price of Stax (STX) has increased by 85.04%
  3. SingularityNET (AGIX) has increased in price by 55.81%
  4. ImmutableX (IMX) has increased in price by 54.53%
  5. Render Token (RNDR) has increased in price by 40.46%

Conflux (CFX) Price Leads Crypto Market Altcoin Gains

Conflux (CFX) price has gained momentum since bouncing above the $0.145 horizontal support area on March 11. The price broke above a descending resistance line two days later.

On March 15, the digital asset reached a high of $0.366 but formed a long upper wick (red icon). Relative to the price on February 20, it formed a double top, which is considered a bearish pattern.

If there is a downside movement, CFX price could decline back towards the $0.145 support area. However, if the gains continue, CFX price could continue to rise towards $0.511.

Conflux (CFX) Altcoin Crypto Market Gainer
CFX/USDT Daily Chart. Source: TradingView

StAX (STX) forms a double top pattern

Like CFX, STX price has formed a double top pattern (red icon). It was characterized by a very long upper wick on March 15.

If there is downside momentum as a result, the crypto asset could decline to the 0.73 Fibonacci retracement support level at $0.618.

However, if the previous gains continue, STX price could rise to $1.50.

StAX (STX) price forms a double top.  crypto market
STX/USDT Daily Chart. Source: TradingView

SingularityNet (AGIX) attempts price breakout

AGIX price has been falling below a descending resistance line since February 8th. The line has caused three rejections (red icon) so far.

The movement below the resistance line looks like a perfect ABC corrective formation. As a result, a breakout from the line is expected. If this happens, the utility token could rise to $0.90.

However, if the line rejects the AGIX price again, a drop to $0.29 is possible.

SingularityNet (AGIX) Price Resistance
AGIX/USDT Daily Chart. Source: TradingView

ImmutableX (IMX) Price Clears Key Resistance

The price of IMX has risen sharply since March 11. On March 17, the price broke the $1.25 resistance area but is yet to close above it. If the rise continues, the next resistance lies at $1.86. However, if the price closes below $1.25, a low of $0.90 could follow.

immutablex (imx) price breakout
IMX/USDT Daily Chart. Source: TradingView

Meets Render Token (RNDR) improvements

RNDR price has declined since the breakout from the parabola on 8 February. This decline resulted in a low of $0.89 on March 19.

The price has since moved higher, potentially indicating that it has completed an ABC corrective formation. It will be confirmed with a breakout from the descending resistance line and could move higher at least $2.

However, if there is another rejection, the RNDR could drop to $0.75.

Render Token (RNDR) resistance line.  crypto market
RNDR/USDT Daily Chart. Source: TradingView

For the latest crypto market analysis from BeInCrypto, click here.


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