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Top 5 Altcoins That Rode the Crypto Wave This Week

2 mins
Updated by Ryan Boltman
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In Brief

  • SOL, RNDR, WOO and INJ have broken out from previous resistance levels.
  • Arbitrum (ARB) is is having a flying start as it approaches a new all-time high.
  • Bullish market sentiment with BTC and ETH climbing has seen investor confidence grow this week.
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BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from April 7 to 14.

The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These bullish cryptos have stolen the crypto news and cryptocurrency market spotlight this week:

  1. WOO Network (WOO) price increased by 32.22%
  2. Arbitrum (ARB) price increased by 27.24%
  3. Render Token (RNDR) price increased by 26.33%
  4. Solana (SOL) price increased by 23.65%
  5. Injective (INJ) price increased by 19.73%

Woo Network (WOO) Price Leads Altcoin Gainers

The WOO price has increased since April 9. The cryptocurrency price broke out from the $0.26 horizontal resistance area on April 14, creating a large bullish candlestick.

If the increase continues, the next resistance would be at $0.39, an increase of 38% from the current price. The upward movement is supported by the daily RSI, which has moved above 50.

WOO Network (WOO) bullish crypto range
WOO/USDT Daily Chart. Source: TradingView

However, WOO could return to the $0.26 support level if the rally loses steam.

Arbitrum (ARB) Price Approaches All-Time High

The ARB price broke out from the $1.27 resistance area on April 13 and reached a high of $1.59 the next day. This is very close to the all-time high price.

If the increase continues, ARB can move to the 1.61 external Fib retracement at $1.66 (white). This would be a new all-time high.

Arbitrum (ARB) Altcoin Price Range
ARB/USDT Two-hour Chart. Source: TradingView

However, if the rally loses steam, the digital asset can drop to the $1.43 support.

Render Token (RNDR) Price Breaks out From Resistance Line

The RNDR price broke out from a descending resistance line on April 10. The breakout was also combined with a RSI movement above 50 (green circle). The bullish crypto reached a high of $1.70 two days later. Currently, the price trades below the $1.70 horizontal and Fib resistance area.

Render Token (RNDR) Price Breakout
RNDR/USDT Daily Chart. Source: TradingView

If RNDR breaks out, it could move to the next resistance at $2.15. However, if it gets rejected, a decrease to the resistance line at $1.10 could follow.

Solana (SOL) Price Approaches Resistance

The SOL price has increased since March 10. It created a higher low on April 9 before accelerating its rate of increase. The price is now approaching the $26 resistance area. If it breaks out, the next resistance would be at $36.

Solana (SOL) Price Range
SOL/USDT Daily Chart. Source: TradingView

However, if the price gets rejected, it could fall to the $20 support level.

Injective (INJ) Altcoin Clears Resistance

The INJ price has increased since breaking out from an ascending resistance line and validating it as support on April 6 (green icon). The increase accelerated afterward, and the price cleared the $6.50 resistance region on April 12. 

Injective (INJ) Price Movement
INJ/USDT Daily Chart. Source: TradingView

If the upward movement continues, the next resistance would be at $9.80. However, if the price falters, a retest of $6.50 could be on the cards.

For BeInCrypto’s latest crypto market analysis, click here.

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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.

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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)
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