These 5 Altcoins Perfectly Summarize the Bullish Crypto Market

BeInCrypto looks at five cryptos that increased the most from the entire market this week, specifically from Feb. 3 – 10.

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

  1. SingularityNET (AGIX) price increased by 133.01%
  2. The Graph (GRT) price increased by 64.81%
  3. Rocket Pool (RPL) price increased by 23.23%
  4. Lido DAO (LDO) price increased by 21.85%
  5. Frax Share (FXS) price increased by 18.45%

SingularityNET Leads Crypto Market Altcoin Gainers

The AGIX price was the biggest gainer in the crypto space last week. It has increased considerably since the beginning of the year. It reached a new all-time high of $0.671 on Feb. 8. However, it created a bearish candlestick the same day and has been falling since. AGIX fell to the 0.5 Fib retracement support level the next day at $0.354.

Therefore, the price may trade between the 0.5 Fib level and the all-time high. On the other hand, if it breaks down below $0.354, the digital asset could fall to $0.279.

AGIX/BUSD Daily Chart. Source: TradingView

The Graph Falls By 33% in Two Days

The GRT price has fallen since reaching a high of $0.232 on Feb. 7. It created two bearish candlesticks in a row, leading to a minimum price of $0.140 on Feb. 9. The price bounced afterward and is now trading 33% below its Feb. 7 highs.

If the bounce continues, the $0.187 area would likely provide resistance. On the other hand, the closest support area would be at $0.135. The area previously acted as resistance and is now expected to provide support.

GRT/USDT Daily Chart. Source: TradingView

Rocket Pool Breaks out From Parallel Channel

The RPL price broke out from an ascending parallel channel on Feb. 8. While it reached a high of $56.600 the next day, it created a long upper wick and began to fall. The rejection validated the 1.61 external Fib level as resistance.

Therefore, the most likely future price forecast is a fall toward the confluence of support levels at $40. A horizontal support area and the support line of the channel create the support

On the other hand, closing above the 1.61 Fib level could lead to an upward movement toward the 2.61 extension at $65.670.

RPL/USDT Six-Hour Chart. Source: TradingView

Lido DAO Shows Weakness

The LDO price has increased rapidly since the beginning of the year. However, since Jan. 8, it created three long upper wicks, which are considered signs of weakness. They were also combined with bearish divergence in the RSI.

If the divergence catalyzes a downward movement, the digital currency could fall to $1.750. However, if the upward movement continues, the LDO price could break out above $3 and move to a new all-time high.

LDO/USDT Daily Chart. Source: TradingView

Frax Share Concludes Altcoin Gainers

The FXS price has increased at an accelerated rate since breaking out from the $7.500 resistance area on Jan. 15. The increase led to a high of $14.259 on Feb. 9.

However, the price created a long upper wick and bearish divergence in the RSI (green line). Therefore, a downward movement toward $7.500 may follow.

On the other hand, if the upward movement continues, the closest resistance would be at $17.500.

FXS/USDT Daily Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.

Disclaimer

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

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