While the crypto market suffers big losses, Huobi Token price has increased by 84% in five days.
Quant price has broken out from a long-term descending resistance line.
Ethereum Name Service price is in the fifth and final wave of a bullish impulse.
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BeInCrypto takes a look at five projects that beat the crypto market last week, more specifically, from Oct. 7 to Oct. 14.
These digital assets have taken the crypto news and crypto market spotlight:
Huobi Token price began a massive upward movement on Oct. 19, and increased by 85% in a span of only five days. This led to a high of $8.20.
However, the price of Huobi Token was rejected by the $8.10 horizontal resistance area and created a long upper wick.
The $8.10 area had previously acted as support since Nov. 2021. Therefore, it is considered a crucial level. Until HT price manages to break out above it, the trend cannot be considered bullish. A movement above this area could greatly accelerate the rate of increase.
On June 19, the QNT price broke out from a descending resistance line. Previously, the line had been in place since the all-time high. Breakouts from such long-term structures usually precede a significant upward movement.
On Oct. 14, the price of Quant reached a new yearly high of $176.30. The high was made above the $145 horizontal area and just below the 0.382 Fib retracement (white) resistance level at $190.
Now, the $145 area is expected to provide support while the $190 area is likely to act as resistance.
Quant Price Chart. Source: TradingView
Ethereum Name Service price attempts breakout above $20
The wave count suggests that the ENS price began a five-wave upward movement on June 14. On Oct. 4, the price of Ethereum Name Service broke out from a symmetrical triangle, hereby confirming that wave four had come to an end.
Therefore, the ongoing increase is part of wave five. Currently, ENS price is trading inside a confluence of Fib resistance levels, created by the 0.618 Fib retracement resistance (white) and the 0.618 length of waves one and three (black).
If ENS price is successful in moving above it, the next resistance would be between $23.40 and $24.50.
Ethereum Name Service Price Chart. Source: TradingView
OKB price struggles with resistance
OKB price has been increasing inside an ascending parallel channel since Sept. 7. Such channels usually contain corrective movements. OKB price initiated an upward movement after bouncing at the support line of the channel on Oct. 10. It is currently attempting to move above its midline.
The resistance line of the channel is at $19.32. It also coincides with the 0.618 Fib retracement resistance level. As a result, it would be likely for the price to get rejected once it gets there.
OKB Price Chart. Source: TradingView
Terra LUNA price could soon break down
Similarly to OKB price, LUNA price has been trading inside an ascending parallel channel since Sept. 27. It made an attempt at breaking out from it on Oct. 12, but it was unsuccessful at doing so.
Now, Terra LUNA price is in the process of falling below the middle of the channel. As a result, an eventual breakdown is likely.
Terra LUNA Price Chart. Source: TradingViewFor BeInCrypto’s latest Bitcoin (BTC) analysis, click hereDisclaimer: BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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)
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)
Huobi Token Price Chart. Source: TradingView
Huobi Token Price Chart. Source: TradingView
