See More

These 5 Altcoins Stole the Crypto Market Limelight This Week

2 mins
Updated by Geraint Price
Join our Trading Community on Telegram

In Brief

  • Astar (ASTR) created a double top pattern.
  • MAGIC (MAGIC) reached a new all-time high on Feb. 16.
  • BinaryX (BNX) was rejected by a horizontal resistance area.
  • promo

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:

  1. Astar (ASTR) price increased by 46.49%
  2. Mina (MINA) price increased by 44.78%
  3. BinaryX (BNX) price increased by 44.20%
  4. MAGIC (MAGIC) price increased by 36.98%
  5. 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.

Astar (ASTR) Double Top. Crypto market, altcoins
ASTR/USDT 12-Hour Chart. Source: TradingView

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.

Mina (MINA) Price Movement
MINA/USDT Daily Chart. Source: TradingView

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.

BinaryX (BNX) Price Resistance.  Crypto market, altcoins
BNX/USDT Daily Chart. Source: TradingView

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.

Magic (MAGIC) Price Movement
MAGIC/USDT Daily Chart. Source: TradingView

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.

Loopring (LRC) Price Breakout.  Crypto market, altcoins
LRC/USDT Daily Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.

Top crypto platforms in the US | March 2024

Trusted

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Valdrin-Tahiri.jpg
Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
READ FULL BIO
Sponsored
Sponsored