5 Altcoins that led to the gains in the crypto market
BeInCrypto looks at five altcoins that rose the most in the crypto market week, specifically from March 17th to 24th.
The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These altcoins have stolen the crypto news and spotlight in the cryptocurrency market:
- Mask Network (MASK) price has increased by 45.38%
- XDC Network (XDC) price has increased by 17.32%
- Ripple XRP price has increased by 17.12%
- Dash (DASH) price has increased by 15.41%
- Stacks (STX) price has increased by 13.32%
Mask Network (MASK) Leads Crypto Market Altcoin Gainers
The MASK price has risen sharply since November 2022. While the rally stalled below the $5.95 resistance area, the price has finally broken out of it. It is currently in the process of validating it as resistance. If the rise continues, the next closest resistance area will be $13.80.
However, if the utility token falls back below the $5.90 area, it could fall to $2.90.
XDC Network (XDC) Altcoin Price Breaks Out
The XDC price has been rising since the beginning of the year, creating a higher low in March. This caused a breakout from the $0.036 resistance area and a new annual high of $0.047 on March 21.
However, the price created a long upper week and has fallen slightly since. It seems to be validating the $0.036 area again.
If the price regains its strength, it could retest the $0.047 area.
Ripple XRP breaks out of resistance
The XRP price broke out from a descending resistance line on March 21. The price hit a new yearly high of $0.493 before falling. Subsequently, the price validated the $0.430 area as support before the bounce.
If the rise continues, the next closest resistance area will be $0.505.
However, if the crypto asset closes below $0.430, it will jeopardize the entire upward movement and could lead to a drop to $0.30.
Dash (DASH) price retraces previous support
Dash price (DASH) bounced to the $48 support area on March 14, starting the current upward movement. It retook a rising support line on March 23.
Currently, the digital asset is trading at the 0.618 Fib retracement resistance at $65. If it breaks out, the price could rise to the next resistance at $75. However, if a decline follows, DASH could fall to $48.
Stabler (STX) price may have reached a peak
The Stacks price has increased significantly since the beginning of the year. It hit a new annual high of $1.31 on March 20.
However, the high was combined with bearish divergence in the daily RSI (green line). Also, price may have completed wave three of a five-wave uptrend (white).
If so, a drop to the 0.5-0.618 Fib retracement support levels of $0.63-$0.76 could occur. On the other hand, a close above $1.31 would invalidate this bearish forecast. If so, the STX price could rise towards $1.80.
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 missing facts or inaccurate information. You agree and understand that you should use all such information at your own risk. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.
