Altcoin’s Top Five Winners Showcase – Aug 30 – Sept 5

BeInCrypto breaks down the top five altcoin drivers and shakers from the past week. Will your momentum continue this week?

five altcoins that rose the most in the past week were:

  1. Network Oasis (ROSA): 92.26%
  2. Civic (CVC): 88.09%
  3. Fantom (FTM): 84.95%
  4. Quantity (QNT): 84.62%
  5. IOTA (IOTA): 80.76%

PINKISH

On August 23, ROSE was rejected by a descending resistance line that had previously been in place since the all-time high on March 14.

However, he later regained his position and managed to break through on August 31. Since then, it has moved upward at an accelerating rate.

Currently, it is trying to break out of the $ 0.206 resistance area. This is both the 0.786 Fibonacci Retracement Resistance Level and a horizontal resistance area. In this way, ROSE is likely to move towards a new all-time high.

MACD and RSI are moving higher, supporting the legitimacy of the bullish move.

CVC

Similar to ROSE, CVC attempted to break a descending resistance line on August 24. After the initial rejection, it erupted on September 3.

Two days later, it managed to hit a new all-time high of $ 0.98. However, it was drastically reduced on the same day.

Currently, CVC is trying to find support above the horizontal area of ​​$ 0.60, which previously served as resistance. This would likely allow the bullish move to continue.

FTM

On August 30, FTM broke the horizontal resistance area of ​​$ 0.705. It validated it as support the next day (green icon) and has been moving up since then.

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After hitting a new all-time high on September 3, FTM accelerated its growth rate. On September 6, it hit a new all-time high of $ 1.34.

next resistance zone is at $ 1.45. This is the 1.61 Fibonacci outer retracement resistance level when the most recent decline is measured.

Both the MACD and the RSI are going up.

QNT

QNT has been moving rapidly higher since July 20. After breaking out of the $ 180 resistance area on August 28, it validated it as support for the next ten days.

It started another bullish move on September 3 and peaked at $ 385 on September 6.

While technical indicators remain bullish, the rally has turned completely parabolic, something that is not sustainable in the long term.

IOTA

IOTA has been moving up since July 20. It created a higher low on September 2 and accelerated shortly thereafter.

However, it was rejected by the $ 1.88 resistance area and is declining. This is the 0.618 Fibonacci Retracement Resistance Level and a horizontal resistance area.

rise appears to be part of the third wave of bullish momentum. refore, after a dip that would complete a fourth wave retracement, another upward move would be expected.

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