These five altcoins led the crypto market this past week

BeInCrypto looks at the five altcoins that gained the most from the entire crypto market last week, especially from December 9 to 16,

These digital assets have grabbed crypto news and crypto market headlines:

  1. Toncoin (TON) increased in price by 30.29%
  2. XDC Network (XDC) price rose by 12.49%
  3. OKB (OKB) price increased by 12.25%
  4. Bitcoin SV (BSV) price increased by 11.55%
  5. Lido DAO (LDO) increased in price by 9.49%

TON is ahead of altcoin gainers

Of the five altcoins that gained the most in the past week, TON is up more than twice as much as the second-ranked altcoin.

TON price has been on an uptrend since October 13th with a possible five-wave upside momentum (black). If true, then the price is in the third wave. The sub-wave count is given in white, indicating that the TON value is in sub-wave four.

The most likely target for the local top is $3.43, formed by the 2.61 outer Fibonacci retracement of wave two.

A failure of a $1.99 high (red line) below the wave would invalidate this bullish hypothesis.

XDC close to critical resistance

XDC has been falling below a descending resistance line since August 11. The downside movement reached a low of $0.018 on December 7. The price has been trending higher since then and is approaching the descending resistance line.

Currently, the line is coinciding with the $0.026 resistance area, which adds to its importance.

If XDC price fails to break above, it could decline towards the yearly low of $0.018. On the other hand, a breakout could extend the increase towards $0.032.

Will OKB reach the highest price since March

Of the five altcoins analyzed, OKB is the one that has gained the most relative to its yearly low. OKB price has been in an uptrend since June. After three failed attempts (red mark), it broke above the $22.50 resistance area on December 13. It has been rising ever since and reached a high of $24.60 on 16 December. This is the highest price since March 2022.

If the upside momentum continues, the next resistance lies at $32.30. Conversely, a daily close below $22.50 would indicate a bearish trend.

bsv attempts to breakout

BSV price has been rising since 9th November with an ascending support line. The upward movement reached a high of $48 on December 12.

BSV price declined sharply afterwards but formed a long lower wick, which validated the rising support line. It made another attempt to break out of the $48 resistance area on 16 December.

A daily close above the $48 resistance area would be a decisive bullish signal, while a rejection could trigger a decline towards the ascending support line at $43.

LDO continued range consolidation

The LDO price has been in an uptrend since November 9, when it validated the descending resistance line that it had broken earlier.

However, the upward momentum has been very slow. The LDO is stuck in a range between $0.93 and $1.28. A breakout above the top of the range could catalyze an upward move towards $1.80. On the other hand, a breakdown could decline towards $0.40.

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


BeInCrypto endeavors to provide accurate and up-to-date information, but shall not be responsible for any missing facts or incorrect information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.

Source link

Leave a Comment