These five altcoins outperformed the crypto market

BeInCrypto looks at five altcoins that have gained the most from the entire crypto market this week, especially since January, 13 to 20,

These digital assets have stolen the crypto news and crypto market spotlight:

  1. Frax Share (FXS) increased in price by 53.19%
  2. Decentraland (MANA) increased in price by 42.96%
  3. Convex Finance (CVX) increased in price by 39.98%
  4. The price of Enjin Coin (ENJ) increased by 36.47%
  5. Curve DAO token (CRV) increased in price by 34.35%

FXS Crypto Market Leads Altcoin Gainers

Frax share (FXS) price was trading below the $7.55 area since May 26. After three failed breakout attempts, it moved above it on January 15, reaching a high of $10.67 five days later.

If the upside momentum continues, the next nearest resistance will be at $17.50. If the rally loses momentum, FXS price could move back to the $7.55 area.

While the RSI is overbought, it has not yet generated a bearish divergence, suggesting that the upward movement will continue.

Frax Shares (FXS) Price Breakout
FXS/USDT Daily Chart. Source: TradingView

the mind struggles with the resistance line

The price of Decentraland (MANA) has risen since reaching a low of $0.28 on 30 December. The upside is bullish, and the price reached a high of $0.76 on January 21. However, it was rejected by a descending resistance line (red icon) and has since declined. The RSI also dropped due to this and dropped below around 70.

If the downside momentum continues, the nearest support area will be at $0.40. If MANA price breaks above the resistance line, it could continue higher towards the $1.12 resistance area.

Decenterland (MANA) Resistance
MAIN/USDT Daily Chart. Source: TradingView

cvx breaks above resistance line

The price of Convex Finance (CVX) has increased since January 6th. On January 15, it broke above a descending resistance line and reached a high of $5.39 the next day. This also pushed the RSI above 70.

If the upside momentum continues, the nearest resistance will be at $5.85. If the rally loses momentum, CVX price could retrace and validate the resistance line as support.

Convex Finance (CVX) Altcoin Breakout
CVX/USDT Daily Chart. Source: TradingView

ENJ attempts to move above $0.41

The price of Enjin Coin (ENJ) has increased since 30 December. The upward momentum intensified on January 11, as ENJ price broke both the descending resistance line and the $0.30 horizontal area.

So far, the price of ENJ has reached an all-time high of $0.47. However, it formed a long upper wick and declined below the $0.41 area. If it successfully moves above it, Enjin price could increase towards $0.55.

If it gets rejected, the price could drop further towards $0.30.

Enjin Coin (ENJ) Gains Before Crypto Market Rally
ENJ/USDT Daily Chart. Source: TradingView

CRV Rounds Out the Five Best Altcoin Gainers

The price of Curve DAO (CRV) has increased since 22nd November. It made a higher low on December 30 and subsequently accelerated its rate of growth. On January 13, CRV price broke both the descending resistance line and the $0.70 horizontal resistance area.

If the upward movement continues, the nearest resistance will be at $1.03. A break above it could send the price bullish towards $1.50.

On the other hand, if the rally falters, CRV price could decline further towards $0.70.

Curve DAO Token (CRV) Price Breakout
CRV/USDT Daily Chart. Source: TradingView

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.

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