BeInCrypto looks at five cryptos that increased the most in this week’s crypto market, specifically from March 31 to April 7.
The term altcoin refers to cryptos other than Bitcoin (BTC). These bullish cryptos have stolen the market spotlight:
- SXP (SXP) price increased by 46.46%
- Injective (INJ) price increased by 21.24%
- Dogecoin (DOGE) price increased by 14.13%
- Frax Share (FXS) price increased by 13.98%
- Casper (CSPR) price increased by 13.47%
SXP Price Leads Altcoin Gainers
SXP is one of the bullish cryptos that saw its price increase rapidly since breaking out from a descending resistance line on March 29. The breakout led to a high of $0.94 on April 3.
However, the price failed to break out from the $0.93 area and was rejected instead.
If the decrease continues, SXP could find support at the 0.382 Fib retracement support level at $0.66.
On the other hand, if it breaks out, the next closest resistance would be at $1.40.
Injective (INJ) Price Approaches Yearly High
The INJ price has increased at a rapid rate since its March 10 low (green icon) of $2.45. On April 2, the price broke out from an ascending resistance line. Afterward, it validated it as support on April 6 (green icon).
If the increase continues, the next resistance will be at $6.50.
However, if the rally loses momentum, the INJ price could decrease to the $4.40 horizontal support area.
Dogecoin (DOGE) Price Breaks Out From Resistance
Dogecoin is another of the top bullish cryptos of the week that saw its price broke out from a descending resistance line on April 3. However, it was rejected by the 0.382 Fib retracement resistance level at $0.10.
Currently, DOGE is at the price of validating the previous resistance line as support.
It will likely break out from the $0.10 area if it is successful. If so, it will likely increase to the 0.618 Fib retracement resistance level at $0.12.
However, if the DOGE price falls below the descending resistance line, it will likely decrease to $0.07.
Frax Share (FXS) Price Bounces at Support
The FXS price has increased since bouncing at the $7.50 horizontal support area on March 10. After creating a higher low, it is now attempting to break out from the $10 resistance area.
If this crypto breaks out, FXS can increase to $12.80.
However, if this crypto gets rejected, a drop to $7.50 could follow.
Casper (CSPR) Follows the Resistance Line
The CSPR price has followed a descending resistance line since October 2022. The line has caused numerous rejections, most recently on April 4 (red icon). Since resistances weaken each time they are touched, an eventual breakout is expected.
If the CSPR price breaks out, it could increase to at least $0.50.
However, CSPR could fall to the $0.34 support area if another rejection follows.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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