BeInCrypto looks at five altcoins that gained the most from the entire crypto market last week, notably From 2 to 9 December.
These digital assets have grabbed crypto news and crypto market headlines:
- Axie Infinity (AXS) price rose by 18.19%
- Synthetix (SNX) price gained 11.83%
- Thorchain (Rune) price increased by 10.89%
- Stax (STX) price rose by 10.37%
- EOS (EOS) price rose by 10.12%
AXS leads the crypto market gainers
AXS is the native token of the Axie Infinity ecosystem, a play-to-earn game on the Ethereum blockchain. AXS price has risen since Nov 13, when it formed a bullish candlestick with long bars on each side.
The rate of increase accelerated on December 5, possibly due to positive crypto news in the form of the AXI Core update. beginning of may.
Despite failing to break out, this was the fifth attempt to do so (red mark). Since the lines tend to weaken each time they are touched, the AXS price is expected to eventually breakout from the line. A breakout from the line and a subsequent retest of the $13 resistance area is necessary for the trend to be considered bullish.
SNX forms bullish pattern
SNX price has declined below the descending resistance line since August 13. The line caused a rejection on November 5 and reached a low of $1.54 10 days later. This was slightly above the annual low of $1.42. In turn, this created a double bottom pattern (green icon). The SNX has increased in price since then.
A breakout from the descending resistance line is required to confirm the double bottom pattern. If it does, it could witness an upside momentum towards the $2.60 resistance area.
Conversely, a rejection would likely lead to a new yearly low.
Roon bounces back after yearly low
The price of RUNE was subject to a sharp decline on 8 November, reaching a new yearly low of $1 the next day.
The price has since recovered and is trading near the $1.45 resistance area in the last 24-hours. This is an important area as it previously acted as a support since May 15 (green icon).
As a result, the trend is considered bearish until RUNE reclaims the $1.45 resistance area.
STX starts relief rally
STX price has risen since November 14, when it fell to a new yearly low of $0.20. Despite the upside move, the price is trading well below the $0.30 resistance area. This is an important level as it has previously acted as support since June 13.
Like RUNE, the trend is considered bearish until STX reclaims the $0.30 resistance area
EOS attempts to breakout
On November 9, the EOS price dropped to a new yearly low of $0.788. This appeared to be the reason for a break above the $0.86 horizontal support area.
However, the price later reclaimed the area and validated it as support again.
Currently, EOS is trying to break out of a descending resistance line that has been in place since August 19. If successful, this could lead to a price target of $1.15.
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