BeInCrypto takes a look at five projects that beat the crypto market last week, more specifically, from Nov. 11 to Nov. 18
These digital assets have taken the crypto news and crypto market spotlight:
- Trust Wallet Token (TWT) price is up 90.57%
- GMX (GMX) price is up 16.18%
- Toncoin (TON) price is up 9.70%
- Chiliz (CHZ) price is up 9.20%
- Lido DAO (LDO) price is up 6.32%
TWT Price Leads Crypto Market Rally
The Trust Wallet Token price had decreased below a descending resistance line since Aug. 2021. After five unsuccessful attempts (red icon), TWT finally broke out and validated the line as support on Nov. 9 (green icon).
Afterward, TWT initiated a massive pump and reached a new all-time high price of $2.73 on Nov. 14. However, it failed to sustain an upward movement and created a long upper wick. TWT is struggling to close above the 1.61 external Fib retracement level at $2.41 (white).
If a downward movement occurs, there will be strong support at $1.87 and $1.52.
GMX Price Searches for Support After Breakdown
The GMX price has been moving upwards since Nov. 9. The upward movement led to a high of $48 on Nov. 13. However, TWT was rejected by the $45 resistance area and failed to break out. Shortly afterward, it broke down from an ascending support line and validated it as resistance (red icon).
If the downward movement continues, the main support area is at $34 to $36.67, created by the 0.5-0.618 Fib retracement support level.
GMX must reclaim the $45 area for the trend to be bullish.
TON Price Bounces and Breaks Out
TON has been increasing since creating a very long lower wick on Nov. 10 (green icon). On Nov. 10, it bounced at the $1.43 horizontal support area and created a bullish engulfing candlestick the next day.
The TON price broke out from a descending resistance line on Nov. 16. However, it decreased over the past 24 hours, potentially validating the resistance line as support.
If the upward movement continues, the closest resistance area would be at $1.92.
Conversely, a fall below the descending resistance line would invalidate this bullish hypothesis.
CHZ Price Continues Upward Movement
The CHZ price completed a five-wave upward movement between June 15 and Sept. 24. Afterward, it seems to have completed an irregular, flat corrective structure (red).
The final low of the correction was combined with bullish divergence in the daily RSI (green line), supporting the continuation of the increase.
If the count is correct, the CHZ price will reach the $0.28 area and successfully break out.
Conversely, a decrease below the wave C low of $0.14 (red line) would invalidate this bullish CHZ price prediction.
LDO Price Bounces After Sharp Fall
The LDO price began a sharp decrease on Nov. 8 and reached a low of $0.87 the next day. The ensuing bounce (green circle) validated the $0.92 area as support.
Currently, LDO is attempting to move above the $1.28 resistance area.
If the LDO price manages to reclaim the $1.28 area, it could increase towards the next resistance at $1.80. If not, a re-test of the $0.92 area would be expected.
For BeInCrypto’s latest Bitcoin (BTC) 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 Conditions, Privacy Policy, and Disclaimers have been updated.
