Why CSPR, TWT, TON MKR and AAVE outperform
BeInCrypto takes a look at five projects that beat the crypto market last week, specifically from October 14th to October 21st.
These digital assets have taken the spotlight on the crypto news and crypto market:
- Casper (CSPR) price is up 25.00%
- Trust Wallet Token (TWT) price is up 12.92%
- The Maker price (MKR) is up 12.23%
- Toncoin (TON) price is up 11.91%
- Aave (AAVE) price is up 9.36%
Casper CSPR Price Prediction: Retesting Support
The CSPR price had been trading below the $0.039 resistance area since early May. After initiating a significant upward movement, the Casper price was finally able to break out on October 16. It hit a high of $0.055 the next day.
Casper price has since declined and validated the $0.039 area as support (green icon). The daily RSI is still rising and has not generated any bearish divergence yet.
Therefore, after another potential re-test, the CSPR price is expected to rise towards the $0.058 resistance area.
Conversely, a daily close below the $0.039 area will invalidate this bullish prediction in the crypto market.
Trust Wallet Token TWT Price Prediction: Makes Fifth Breakout Attempt
The TWT price has dipped below a descending resistance line since September 2021.
Currently, the Trust Wallet Token price is about to make its fifth breakout attempt (red icons). Since the resistors get weaker each time they are touched, a breakout is likely.
Furthermore, the daily RSI is still rising and has not generated any kind of bearish divergence.
If a breakout occurs, the next closest resistance area will be $1.33 for the TWT price.
Conversely, a daily close below the $0.90 horizontal support area will invalidate the bullish hypothesis in the crypto market.
Maker MKR price prediction: reaches resistance line with wedge
MKR has been falling within a descending wedge since June 2021. The descending wedge is considered a bullish pattern, meaning that a breakout from it would be the most likely scenario.
Producer price is currently making an attempt to break out. It began an upward movement in September 2022 after bouncing at the support line of the wedge.
Additionally, the RSI has finally moved above 50, breaking out of its bearish divergence trendline. This supports the possibility of a price breakout from the wedge. If a breakout occurs, the MKR price could rise all the way to $1,970.
A decline below the yearly low of $581 would invalidate this bullish scenario for Maker price in the crypto market.
Toncoin TON Price Prediction: Bounces at support
TON has been moving higher since bouncing off the $1.25 horizontal support area on October 13 (green icon). Shortly after, the Toncoin price broke out from a descending resistance line.
If the upward move continues, the nearest resistance area is $1.66-$1.77, created by the 0.5-0.618 Fib retracement resistance levels. A successful move above this range would be expected to take the TON price above $2.
Conversely, a daily close below $1.25 would be bearish and suggest that new lows are expected for the Toncoin price in the crypto market.
AAVE Price Prediction: Beginning Wave C
The AAVE price has fallen below a descending resistance line since it peaked at $115.18 on August 13. The downward movement led to a low of $64.71 on October 13.
The subsequent bounce created a long lower wick (green icon) and validated the $72 area as support. Shortly after, the AAVE price broke out from a descending resistance line.
It is possible that AAVE price has started wave C of an ABC structure (black). If so, it could rise all the way to $135.50. A daily close below $72 would invalidate this opportunity.
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