Indeed, a lot is happening in the cryptocurrency market at the moment. Popular digital coins fluctuating day in day out, and new coins surfacing seem to be the new normal in the market. Here are some of the altcoins that gained new highs over last week. However, will they maintain the momentum?
Altcoin Gainers of the Previous Week.
REV started a significant rising trend on 10th May and continued to new heights of $0.062 the following day. Unfortunately, the altcoin declined with time, trading at about $0.028 at a given time. However, despite the decline, the current REV Price is significantly higher than on 10th May. Keep in mind that price fluctuations in this altcoin look unusual. Moreover, it is trading under its $0.038 resistance area.
MATIC has had an upward movement since 4th May. The increase rate accelerated on 14th May. As a result, the asset reached its new high of $1.89 the following day. Keep in mind that the high occurred at the external Fibonacci retracement, 4.16, of the last drop.
MATIC fall slightly since. However, the asset showed weakness signs, with ARSI generating a bearish divergence. For now, both the Stochastic oscillator and MACD are rising. MATIC has its closest resistance levels at $1.29 and $1.43.
KSM has witnessed increasing trends since 23rd April. The altcoin reaches its highest price, $618.36, on 15th May, before declining slightly. After the brief drop, KSM initiated another increasing momentum. At the moment, the asset has bullish technical indicators.
For now, KSM altcoin aims at a $560 support area. If it succeeds in that, the next support level might be around $743.
ADA has been rising since 23rd April. The asset maintained its upward trend until 16th May. At the time, ADA reached its highest price, $2.47. It seems like the altcoin reached the highest of the 5th bullish wave that started in 2020 March. Fibonacci projection on sub-waves 1-3 (orange) and waves 1-3 (white) indicates a similar target around $2.40.
Since 18th April, AAVE has had an upward trend. It maintained the upward increase until reaching its highest price, $634 on 14th May. Although with a slight drop, AAVE currently trades over the $530 resistance level.