The 3 most profitable altcoins in the week between September 8-15 have been announced. First on the list is Hifi Finance (HIFI), which gained 2x value. The developments and technical analyzes that move the prices are as follows…
These 3 altcoins gained the most this week
Hifi Finance (HIFI)
HIFI price has increased significantly since June 10. The altcoin initially consolidated above $0.30. It then accelerated its rise on August 17. It has since risen along the parabolic ascending support line.
The altcoin price later reached its ATH level of $1.27 on September 15. But then it dropped a bit. The high occurred at the 2.61 Fib extension of the original spike (black). This is often an area that provides resistance during upward moves.
According to technical analyst Valdrin Tahiri, the altcoin could decline to the $0.75 support area. This level coincides with the parabolic ascending support line, which is an extension of the original increase of 1.61. Such a situation would correspond to a 35% decrease compared to the current price. On the other hand, if the price breaks and reaches another top, the next resistance will be $1.60, created by the 3.61 extension of the same original increase. An increase there represents a 35% upward move.
Storj (STORJ)
STORJ price has increased since its low of $0.19 on August 17. On the same day, the altcoin created a long lower wick (green icon), which is considered a sign of buying pressure. STORJ also accelerated the rate of increase, with the price creating a higher low at the beginning of September. On September 13, the price broke above the horizontal resistance area at $0.32. This sign supports the possibility that a new upward movement has begun.
If the rise continues, STORJ will rise 50% and head towards the next resistance at $0.50. On the other hand, a close below the $0.32 area will invalidate the ongoing breakout. In this case, a 30% decline to the $0.23 support area would likely be future price action.
Metal DAO (MTL)
MTL price has increased since it bounced off the support line of a long-term triangle (green icon) on August 17. Triangle has been available since November 2022. The altcoin broke out of the triangle on September 13 after bouncing. Despite this breakout, the price has not shown any significant movement yet. Conversely, it is still trading just below the horizontal resistance area at $1.60.
According to the analyst, a move across the entire height of the formation will take the price to $2.60. This will correspond to an increase of 65 percent. However, if MTL fails to clear the $1.60 area, it could drop 12%. Thus, it will retest the resistance line of the triangle at $1.40.
cryptokoin.comAs we reported, this week VeChain (VET) and VeThor (VTHO) prices achieved instant double-digit gains with the Coinbase listing.
