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Chiliz (CHZ) Breaks Out From Long-Term Resistance: Biggest Weekly Gainers

2 mins
Updated by Geraint Price
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In Brief

  • CHZ has broken out from a descending resistance line.
  • SHIB and CEL have been rejected from resistance areas.
  • GNO and EOS have broken out from ascending parallel channels.
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Be[in]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 12 to 19.

These cryptocurrencies are:

  1. Chiliz (CHZ) : 32.44%
  2. Celsius (CEL) : 5.07%
  3. Shiba Inu (SHIB) : 4.74%
  4. Gnosis (GNO) : 2.60%
  5. EOS (EOS) : 1.40%

CHZ

CHZ has been increasing since June 18. The downward movement caused a breakout from a descending resistance line and led to a high of $0.26 on Aug 18. However, CHZ failed to reach the $0.28 resistance area and has been decreasing since. The closest support area is at $0.155.

CHZ Breakout
CHZ/USDT Chart By TradingView

CEL

CEL has been moving upward since June 14. The upward movement led to a high of $4.34 on Aug 15. While it initially seemed that CEL had broken out from the $3.50 resistance area, it only deviated above it before initiating a downward movement. 

If the decrease continues, the closest support area would be at $1.45.

CEL upward movement
CEL/USDT Chart By TradingView

SHIB

SHIB has been moving upwards since June 18. It broke out from the $0.0000128 resistance area on Aug 14 and reached a high of $0.000018 the same day.

However, the price was rejected by the $0.000018 resistance area, a crucial level that had previously acted as support (green icon). 

SHIB has been falling since and has returned to the $0.0000128 area.

SHIB movement
SHIB/USDT Chart By TradingView

GNO

On July 17, GNO broke out from an ascending support line that had been in place since June 18. It returned to validate it as support on July 26. The price has been moving upward since and reached a high of $205 on Aug. 18. 

GNO was rejected afterward and has been decreasing since. It is possible that it will return to the resistance line of the channel.

GNO breakout
GNO/USDT Chart By TradingView

EOS

Similar to GNO, EOS broke out from an ascending parallel channel on July 27 and proceeded to reach a high of $1.83 on Aug. 17. 

The price has been decreasing since and is currently falling towards the resistance line of the channel, which is expected to provide support. 

EOS Parallel channel
EOS/USDT Chart By TradingView

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here

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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 ConditionsPrivacy Policy, and Disclaimers have been updated.

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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)
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