Top 5 Altcoin Winners in This Week’s Crypto Rally
BeInCrypto looks at five altcoins that rose the most in the crypto market week, specifically from April 7th to 14th.
The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These bullish cryptos have stolen the crypto news and spotlight in the cryptocurrency market this week:
Woo Network (WOO) Prize Leads Altcoin Winners
The WOO price has increased since April 9. The cryptocurrency price broke out of the $0.26 horizontal resistance area on April 14, creating a large bullish candlestick.
If the rise continues, the next resistance will be at $0.39, a 38% increase from today’s price. The upward movement is supported by the daily RSI, which has moved above 50.
However, WOO could return to the $0.26 support level if the rally loses steam.
The Arbitrum (ARB) price is approaching an all-time high
ARB price broke out of the $1.27 resistance area on April 13 and reached a high of $1.59 the next day. This is very close to the highest price ever.
If the rise continues, ARB could go to 1.61 external Fib retracement to $1.66 (white). This would be a new all-time high.
However, if the rally loses steam, the digital asset could fall to the $1.43 support.
Render Token (RNDR) Price breaks out from the resistance line
The RNDR price broke out from a descending resistance line on April 10. The breakout was also combined with an RSI move above 50 (green circle). The bullish crypto hit a high of $1.70 two days later. Currently, the price is trading below the $1.70 horizontal and Fib resistance area.
If RNDR breaks out, it could move to the next resistance at $2.15. However, if it is rejected, a decline to the $1.10 resistance line could follow.
Solana (SOL) Price is approaching resistance
The SOL price has increased since 10 March. It made a higher low on April 9 before the accelerated rate of increase. The price is now approaching the $26 resistance area. If it breaks out, the next resistance will be at $36.
However, if the price is rejected, it may fall to the $20 support level.
Injective (INJ) Altcoin Removes Resistance
INJ price has rallied since breaking out of a rising resistance line and validating it as support on April 6 (green icon). The rally accelerated thereafter, and the price cleared the $6.50 resistance region on April 12.
If the upward movement continues, the next resistance will be at $9.80. But if the price falls, a retest of $6.50 could be on the cards.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
In line with Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, objective reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions.
