See More

TWT, GMX, TON, CHZ, LDO Lead Crypto Market Recovery

3 mins
Updated by Geraint Price
Join our Trading Community on Telegram

In Brief

  • TWT has reached a new all-time high price.
  • CHZ completed an A-B-C corrective structure.
  • LDO bounced at the $0.92 support area.
  • promo

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:

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.

Trust Wallet Token (TWT) Price Crypto market pump
TWT/USDT Chart By TradingView

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.

GMX price breakdown
GMX/USDT Chart By TradingView

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.

Toncoin (TON) Price Range
TON/USDT Chart By TradingView

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.

Chiliz (CHZ)  price Crypto market
CHZ/USDT Chart By TradingView

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.

Lido (LDO) Price Trading Range
LDO/USDT Chart By TradingView

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

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

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.

Valdrin-Tahiri.jpg
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)
READ FULL BIO
Sponsored
Sponsored