Magnificent Seven: CELR, AVAX, HBAR, ATOM, CRV, AUDIO, SUSHI Sept 10-17

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In Brief
  • CELR and AVAX reached new all-time highs on Sept 17.

  • HBAR has broken out from a descending parallel channel.

  • CRV has broken out from a descending resistance line.

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BeInCrypto takes a look at the seven altcoins that increased the most over the past seven days, from September 10 to 17.

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These altcoins are: 

  1. Celer Network (CELR): 74.62%
  2. Avalanche (AVAX): 49.83%
  3. Hedera Hashgraph (HBAR): 42.91%
  4. Cosmos (ATOM): 36.47%
  5. Curve DAO Token (CRV): 31.74%
  6. Audius (AUDIO): 28.72%
  7. SushiSwap (SUSHI): 28.22%

CELR

CELR has been moving upwards since July 20. On Sept 8, it created a higher low and began to accelerate. 

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It broke out from the previous all-time high resistance area of $0.092 on Sept 14 and validated it as support the next day (green icon). This led to a new all-time high price of $0.123 on Sept 17. 

Technical indicators are bullish since both the MACD and RSI are increasing and neither has generated a bearish divergence. 

The next closest resistance area is found at $0.154. This is the 1.61 external Fib retracement resistance level.

AVAX

On Aug 24, AVAX reached a high of $58.98 but fell afterward. This led to a low of $32.23 being reached on Sept 7. 

AVAX has been moving upwards since this low and broke out above the $50 resistance area on Sept 11. It returned to validate the level as support two days later. 

The bounce that followed took AVAX to a new all-time high price of $68.89 on Sept 17.

Both the RSI and MACD are increasing, supporting the continuation of the upward movement. 

The next resistance target is found at $75. This is the 1.61 external Fib retracement resistance level.

HBAR

HBAR has been increasing since breaking out from a descending parallel channel on Aug 31. The upward move accelerated after Sept 7, leading to a new all-time high price of $57.60 on Sept 16.

The previous all-time high resistance of $41 is now expected to act as support. 

The RSI and MACD both support the continuation of the upward movement. The next closest resistance area is found at $0.645.

ATOM

ATOM has been increasing above a parabolic ascending support line since June 20. It reached a new all-time high price of $38.95 on Sept 13. 

ATOM appears to be in the fifth and final wave of a bullish impulse.

There is a resistance zone between $45.70-$47.22. This target area is created by the 1.61 external Fib retracement level (black) and the 1.61 length of waves 1-3 (orange).

CRV

CRV has been increasing since breaking out from a descending resistance line on July 27.

After initially struggling with the $2.45 resistance area, it finally managed to break out on Sept 14. This coincided with a breakout above the bearish divergence trendline of the RSI (blue line). 

The next closest resistance area is found at $3.65.

AUDIO

AUDIO has been decreasing since reaching a high of $4.07 on Aug 17. The downward move led to a low of $1.81 on Sept 7. 

After this, AUDIO broke out from a descending resistance line. The breakout is supported by the MACD and RSI, which are both increasing.

The closest resistance area is found at $4.05.

SUSHI

SUSHI began an upward move on Sept 13 and broke out from a descending resistance line two days later. This led to a high of $16.20 on Sept 16. 

SUSHI has been decreasing since then, falling back below the resistance line. It appears to be in the process of completing a fourth wave pullback. 

Doing so could take SUSHI back toward $18.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate 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.

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