BeInCrypto looks at five altcoins that increased the most from the entire crypto market this week, specifically from Feb. 10 – 17.
These popular altcoins have stolen the crypto news and cryptocurrency market spotlight:
- Astar (ASTR) price increased by 46.49%
- Mina (MINA) price increased by 44.78%
- BinaryX (BNX) price increased by 44.20%
- MAGIC (MAGIC) price increased by 36.98%
- Loopring (LRC) price increased by 34.35%
Astar (ASTR) Leads Altcoin Crypto Market Gainers
The Astar price has increased rapidly since the beginning of the year. However, it created a double top pattern with two long upper wicks near $0.110. Such double tops are considered bearish patterns and often lead to price reversals.
Moreover, the pattern was combined with a bearish divergence in the RSI (green line). Therefore, a drop toward the 0.5 Fib retracement support level at $0.077 may occur.
On the other hand, if the increase continues, the ASTR price could move to $0.140.
Mina (MINA) Price Fails to Clear Resistance
The MINA price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $1.25 on Feb. 16.
However, the price failed to close above the $1.16 resistance area. Rather, it reached a close below it. If the downward movement continues, MINA could fall to the $0.96 horizontal support area.
However, if the price reached a close above $1.16, it could increase to $1.45.
BinaryX (BNX) Trades Inside Resistance
The BNX price has increased rapidly since the beginning of the year. It reached a high of $184.29 on Feb. 13. However, it created a bearish engulfing candlestick and fell the day after.
If the price breaks out above the resistance area, it could increase to $230. However, if it fails to do so, a fall toward $132.50 could follow.
MAGIC (MAGIC) Reaches New All-Time High
The MAGIC price fell after reaching a high of $2.20 on Feb. 6. However, it regained its footing on Feb. 13 and reached a new all-time high of $2.33 on Feb. 16.
If the increase continues, the digital asset could move toward $2.75. However, if a reversal occurs, the price could fall to the $1.50 support area.
Loopring (LRC) Altcoin Price Approaches Resistance
The Loopring price has increased since breaking out from a descending resistance line on Jan. 25. The upward movement led to a high of $0.49 on Feb. 16.
However, the token has not broken out from the $0.50 resistance area. The trend can only be considered bullish once it does. If a breakout occurs, the LRC price could increase to $0.65. If it gets rejected instead, a fall to $0.34 may follow.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
