3 Crypto Gainers Outpacing the Market This Past Weekend
The post 3 Crypto Gainers Outpacing the Market This Past Weekend appeared on BitcoinEthereumNews.com.
Stratis (STRAX), Band Protocol (BAND), and Bitcoin SV (BSV) are the weekend’s best crypto gainers. STRAX broke out from a horizontal resistance area, BAND broke out from a descending resistance trendline, while BSV is approaching a key resistance. The cryptocurrency market experienced a significant increase during the weekend, which is ongoing today. This was especially notable in these three crypto gainers. STRAX Reaches New Yearly High The STRAX price has increased since reaching a low of $0.38 in September. The increase accelerated sharply over the last two weeks, leading to a new yearly high of $1.22 today. The upward movement also caused a breakout and close above the $0.85 horizontal resistance area. Well-known cryptocurrency trader Anbesa100 perfectly predicted the ongoing increase and breakout, making the call in the middle of September. During the increase, the daily trading volume reached a 7-month high, as outlined by Santiment. The 24-hour volume currently stands at $577 million, nearly four times the market capitalization of Stratis. STRAX/USDT Weekly Chart. Source: TradingView If the upward movement continues, STRAX can increase by 27% and reach the next closest resistance at $1.40. However, a sudden loss of momentum and creating a bearish candlestick can lead to a 25% fall to the $0.85 horizontal support area. BAND Clears Long-Term Resistance The BAND price had fallen under a descending resistance trendline since its all-time high in April 2021. The decrease led to a low of $0.85 in August. The price bounced afterward and broke out from the trendline last week. At the time of the breakout, the trendline had been in place for 910 days. With the exception of STRAX, BAND is the biggest 24-hour gainer in the top 160 cryptocurrencies ranked by their market capitalization. BAND/USDT Weekly Chart. Source: TradingView If the increase continues, the $3.20 resistance area…
Filed under: News - @ October 16, 2023 1:26 pm