While there have been rises in many crypto money projects since last week, these 3 altcoin projects attracted the attention of investors with the price boom they experienced. While these altcoin projects appear as Render Token (RNDR), Mask Network (MASK) and Synthetix (SNX), experts warn that a collapse may occur after the rise! Here are the details…
Render Token (RNDR) takes flight!
cryptocoin.com Render Token (RNDR) price has been on the rise since the past days, which we have reported as However, the project broke out of the $2.10 horizontal resistance area on April 26 and reached the yearly high of $2.60 two days later. However, the price soon fell and failed to bounce around the $2.10 area. This put the entire bullish structure at risk. However, RNDR has increased since May 11 and reclaimed the $2.10 area yesterday. If the upside continues, RNDR could rise to the next resistance at $3.10. However, if it breaks below the $2.10 zone, a drop to $1.30 is possible.
Popular altcoin RNDR has gained 39.7 percent in the past week. Instantly, the price level is trading at $2.31.
Mask Network (MASK) price moves above key resistance
The MASK price has fallen since March 29, when it reached a year high of $7.27. Initially, the price was expected to bounce off the previous descending resistance line. However, he was unable to do so and was instead broken down. However, MASK got back on its feet on 12 May and went back above the line on 17 May. This is explained as a bullish sign, as it means the previous level is invalid, according to experts. Thus, it can lead to an upward movement.
If an increase occurs, the next resistance for MASK will be $5. However, a drop to $3.25 can be expected if the price breaks below the resistance line again. Popular altcoin Mask Network has gained over 9% in the last 24 hours and is instantly trading at $4.57.
Popular altcoin Syntethix (STNX) price may experience another boom
The price of the popular altcoin SNX has fallen below a descending resistance line since September 2022. More recently this line was rejected in April 2023 (red icon), giving rise to the current downward movement. Due to the decline, SNX price dropped below the $2.20 horizontal area that is expected to provide support. However, the price rebounded on May 12 and soon started an upward move. On May 17, it retraced the $2.20 horizontal area and confirmed it as support.
If the rise continues, the price of popular altcoin SNX could move towards the long-term descending resistance line of $2.90. SNX price has gained 5% in the last 24 hours and is currently trading at $2.37.
