See More

Chiliz (CHZ) Triples in Price Since June Lows: Biggest Weekly Gainers

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

In Brief

  • EOS and CHZ have broken out from descending resistance lines.
  • ATOM and TFUEL are trading inside ascending parallel channels.
  • DCR is following a descending resistance line.
  • promo

Be[in]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 19 to 26.

These cryptocurrencies are: 

  1. EOS (EOS): 25.85%
  2. Theta Fuel (TFUEL): 19.63%
  3. Chiliz (CHZ): 18.31%
  4. Cosmos (ATOM): 18.14%
  5. Decred (DCR): 12.63%

EOS

EOS has been increasing since June 18 and broke out from a descending resistance line on Aug. 12. The breakout led to a high of $1.95 on Aug 22. 

This caused a rejection from the $1.90 resistance area and created a long upper wick. EOS has been falling since. If the decrease continues, the closest support area is at $1.40.

EOS Breakout
EOS/USDT Chart By TradingView

TFUEL

TFUEL has been increasing inside an ascending parallel channel since June 18. On Aug 23, it bounced at the support line of the channel and initiated a sharp upward movement (green icon). This caused a reclaim of the middle of the channel on Aug 25. 

The closest resistance area is at $0.077. If TFUEL is successful in moving above it, a breakout from the channel would be expected.

TFUEL Channel
TFUEL/USDT Chart By TradingView

CHZ

CHZ has been increasing since June 18. The upward movement caused a breakout from a descending resistance line and led to a high of $0.26 on Aug 23.

The entire upward movement looks like a completed five wave structure. However, CHZ was rejected by the $0.28 resistance area (red icon) and has been decreasing since. If the downward movement continues, the closest support area is at $0.155.

CHZ Breakout
CHZ/USDT Chart By TradingView

ATOM

Similarly to TFUEL, ATOM has been increasing inside an ascending parallel channel since June 19. The movement inside it has been extremely choppy, suggesting that the movement is corrective. If so, a breakdown from the channel would be likely. 

On Aug 23, ATOM was rejected by the resistance line of the channel (red icon). A decrease below the middle of the channel would make a breakdown more likely.

ATOM Channel
ATOM/USDT Chart By TradingView

DCR

DCR has been decreasing underneath a descending resistance line since Dec 2021. The line has so far caused four rejections (red icons), the most recent on Aug 5. 

The trend cannot be considered bullish until DCR manages to break out from this line.

DCR Resistance
DCR/USDT Chart By TradingView

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

Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

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.

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