BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from Feb. 17-24.
These popular altcoins have stolen the crypto news and cryptocurrency market spotlight:
- Stacks (STX) price increased by 142.98%
- Conflux (CFX) price increased by 91.06%
- Ankr (ANKR) price increased by 50.30%
- Klaytn (KLAY) price increased by 36.31%
- Neo (NEO) price increased by 34.83%
Stacks (STX) Price Leads Altcoin Gainers
The Stacks price has moved upwards rapidly since Feb. 18. In five days, it increased by 150%. The slope of the upward movement is completely parabolic.
Despite the increase, the digital asset has not yet reached the main resistance area at $0.98. If it manages to break out, STX could go all the way to $1.55. However, if it fails to do so, a drop to the 0.382 Fib retracement support level at $0.62 could follow.
Conflux (CFX) Price Moves Above Crucial Area
The Conflux price has been mired in a massive increase over the past two days. During this time, it also broke out from the $0.20 horizontal area, which had acted as resistance for more than a year.
The trend is considered bullish as long as the altcoin is above this area. In this case, the next resistance would be at $0.60.
However, if the CFX price closes below $0.20, it would mean that the breakout was illegitimate. This could cause a drop to $0.05.
Ankr (ANKR) Reaches Highest Price in 10 Months
ANKR has increased rapidly since the beginning of the year. The upward movement accelerated on Feb. 21, leading to a high of $0.057. However, the price created a long upper wick and has fallen since.
The main resistance area is at $0.057. It has acted as both support and resistance since the beginning of 2022. If the ANKR price breaks out, it could move to $0.08. However, if a rejection occurs, ANKR could drop to the 0.5 Fib retracement support level at $0.036.
It is worth mentioning that the presence of several long upper wicks and the ensuing drop caused the crypto asset to become the biggest loser over the past 24 hours, despite having an overwhelmingly positive performance over the past week.
Klaytn (KLAY) Fails to Break out Above Resistance
The KLAY price has traded below the $0.34 resistance area since May 2022. Despite a massive increase last week, KLAY still failed to close above this level. Doing so could lead to a high near $0.47.
However, if the KLAY price fails to break out, it could fall back to the $0.24 support level.
Neo (NEO) Altcoin Breaks out From Resistance
The NEO price has increased since breaking out from a descending resistance line on Feb. 17. The upward movement led to a high of $15.80 on Feb. 21. However, the price has fallen since.
Currently, NEO is trading just above the $1.20 horizontal support area. If it bounces, it could increase back to $15.50.
However, if a breakdown follows, the price could return to the previous ascending parallel channel at $11.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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