BeInCrypto looks at five altcoins that increased the most from the entire crypto market this week, specifically from Feb. 10 – 17.
These popular altcoins have stolen the crypto news and cryptocurrency market spotlight:
- Astar (ASTR) price increased by 46.49%
- Mina (MINA) price increased by 44.78%
- BinaryX (BNX) price increased by 44.20%
- MAGIC (MAGIC) price increased by 36.98%
- Loopring (LRC) price increased by 34.35%
Astar (ASTR) Leads Altcoin Crypto Market Gainers
The Astar price has increased rapidly since the beginning of the year. However, it created a double top pattern with two long upper wicks near $0.110. Such double tops are considered bearish patterns and often lead to price reversals.
Moreover, the pattern was combined with a bearish divergence in the RSI (green line). Therefore, a drop toward the 0.5 Fib retracement support level at $0.077 may occur.
On the other hand, if the increase continues, the ASTR price could move to $0.140.
Mina (MINA) Price Fails to Clear Resistance
The MINA price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $1.25 on Feb. 16.
However, the price failed to close above the $1.16 resistance area. Rather, it reached a close below it. If the downward movement continues, MINA could fall to the $0.96 horizontal support area.
However, if the price reached a close above $1.16, it could increase to $1.45.
BinaryX (BNX) Trades Inside Resistance
The BNX price has increased rapidly since the beginning of the year. It reached a high of $184.29 on Feb. 13. However, it created a bearish engulfing candlestick and fell the day after.
If the price breaks out above the resistance area, it could increase to $230. However, if it fails to do so, a fall toward $132.50 could follow.
MAGIC (MAGIC) Reaches New All-Time High
The MAGIC price fell after reaching a high of $2.20 on Feb. 6. However, it regained its footing on Feb. 13 and reached a new all-time high of $2.33 on Feb. 16.
If the increase continues, the digital asset could move toward $2.75. However, if a reversal occurs, the price could fall to the $1.50 support area.
Loopring (LRC) Altcoin Price Approaches Resistance
The Loopring price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $0.49 on Feb. 16.
However, the token has not broken out from the $0.50 resistance area. The trend can only be considered bullish once it does. If a breakout occurs, the LRC price could increase to $0.65. If it gets rejected instead, a fall to $0.34 may follow.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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