Five Biggest Altcoin Gainers – April 5 – 12

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In Brief
  • XRP & BTG have reached a long-term resistance area.

  • BNB reached a new all-time high price on April 12.

  • KCS & CAKE are close to their all-time highs.

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BeInCrypto breaks down some of the biggest altcoin movers and shakers from the previous week. Will their momentum continue?

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During the week of  April 5 – 12, the biggest altcoin gainers were:

  • Kucoin Token (KCS) – 170%
  • Bitcoin Gold (BTG) – 166%
  • XRP (XRP) – 97.5%
  • Binance Coin (BNB) – 68%
  • PancakeSwap (CAKE) – 65%

KCS

KCS has been increasing parabolically since the beginning of the month. So far, it has done so by 270%. 

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So far, it has managed to reach a high of $20. This is only slightly below the all-time high of $21.30 reached in Jan. 2018. 

There is some weakness developing, visible in the form of bearish divergence in both the RSI & Stochastic oscillator. 

Therefore, some rejection could occur once HOT reaches the ATH area. This would also make sense since the upward movement has not retraced since $4. 

Therefore, a breakout above the ATH area on the first try would be unusual.

BTG

BTG was subject to a very rapid increase last week, reaching a high of $121.35. 

The upward move took it to the long-term resistance area of $110, where it was rejected. 

Technical indicators in the weekly time frame are bullish, suggesting that the long-term trend is also bullish. 

However, until BTG manages to break out above this area or gets rejected, the short-term trend direction cannot be determined. 

If BTG gets rejected, the closest support levels are found at $77.8 and $61. 

On the other hand, the next resistance is found at $275.

XRP

Similar to BTG, XRP has reached the 0.382 Fib retracement level of the previous downward movement. 

The long-term trend is clearly bullish, with the RSI just moving above 70 and the Stochastic oscillator making a bullish cross. The next resistance area is found at $2.25. 

However, some short-term retracement could occur before the continuation of the upward movement.

BNB

BNB has been moving upwards since breaking out from a symmetrical triangle on March 30. 

Since then, it has increased by 112%. 

Technical indicators are bullish, but BNB has reached the $208 resistance area. The 2.61 external Fib retracement creates this. Besides, the rally is completely parabolic. 

The next resistance area is found at $770.

CAKE

CAKE has been moving upwards since breakout out from the $18 resistance area on April 18. 

It is currently approaching the next resistance area, which is found at $30. This acted as the all-time high on March 18. 

CAKE is expected to reach it.

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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