These Five Altcoins Outperformed the Crypto Market
BeInCrypto looks at five altcoins that increased the most from the entire crypto market this week, specifically from Jan. 13 to 20.
These digital assets have stolen the crypto news and crypto market spotlight:
- Frax Share (FXS) price increased by 53.19%
- Decentraland (MANA) price increased by 42.96%
- Convex Finance (CVX) price increased by 39.98%
- Enjin Coin (ENJ) price increased by 36.47%
- Curve DAO Token (CRV) price increased by 34.35%
FXS Leads Crypto Market Altcoin Gainers
The Frax Share (FXS) price had traded below the $7.55 area since May 26. After three unsuccessful breakout attempts, it moved above it on Jan. 15, reaching a high of $10.67 five days later.
If the upward movement continues, the next closest resistance would be at $17.50. If the rally loses momentum, the FXS price could return to the $7.55 area.
While the RSI is overbought, it has not generated any bearish divergence yet, suggesting that the upward movement will continue.
MANA Struggles with Resistance Line
The Decentraland (MANA) price has increased since reaching a low of $0.28 on Dec. 30. The upward movement has been swift, and the price reached a high of $0.76 on Jan. 21. However, it was rejected by a descending resistance line (red icon) and has fallen since. This also caused the RSI to decrease and nearly crash below 70.
If the downward movement continues, the closest support area would be at $0.40. If the MANA price breaks out from the resistance line, it could increase to the $1.12 resistance area.
CVX Breaks out From Resistance Line
The Convex Finance (CVX) price has increased since Jan. 6. On Jan. 15, it broke out from a descending resistance line and reached a high of $5.39 the next day. This also caused the RSI to move above 70.
If the upward movement continues, the closest resistance would be at $5.85. If the rally loses momentum, the CVX price could return and validate the resistance line as support.
ENJ Attempts to Move Above $0.41
So far, the ENJ price has reached a high of $0.47. However, it created a long upper wick and fell below the $0.41 area. If it successfully moves above it, the Enjin price could increase to $0.55.
If it gets rejected, the price could fall to $0.30.
CRV Rounds off Five Best Altcoin Gainers
The Curve DAO (CRV) price has increased since Nov. 22. It created a higher low on Dec. 30 and accelerated its rate of increase afterward. On Jan. 13, the CRV price broke out from both the descending resistance line and the $0.70 horizontal resistance area.
If the upward movement continues, the closest resistance would be at $1.03. A breakout above it could send the price dashing toward $1.50.
On the other hand, if the rally falters, the CRV price could drop to $0.70.
For BeInCrypto’s latest crypto market analysis, click here.
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