These 5 altcoins, which are a favorite of investors, continue to keep crypto news and the cryptocurrency market spotlight on. cryptocoin.comWe have compiled the prominent altcoins of the week for you.
Stacks (STX) price drives altcoin gains
Stacks price has skyrocketed since February 18. It increased 150% in five days. The slope of the upward movement is completely parabolic.
Despite the increase, the coin has yet to reach the main $0.98 resistance area. If it manages to blow up, the STX could go up to $1.55. If it fails to do so, however, it could be followed by a decline from the $0.62 low to the 0.382 Fib retracement support level.
Conflux (CFX) price moves above critical area
Conflux price has been stuck in a huge increase in the last two days. During this time, it also broke out of the $0.20 horizontal area, which has been acting as resistance for more than a year.
As long as the altcoin is above this area, the trend is considered bullish. In this case, the next resistance will be at $0.60. However, if CFX price closes below $0.20, it means that the breakout is not legitimate. This could lead to a drop to $0.05.
Ankr (ANKR) reaches its highest price in 10 months
ANKR has increased rapidly since the beginning of the year. The up move accelerated to $0.057 on February 21. However, the price formed a long upper wick and has been in decline ever since.
The main resistance area is at $0.057 and has been acting as both support and resistance since early 2022. If ANKR price breaks out, it could move to $0.08. However, if a rejection occurs, ANKR could decline to the 0.5 Fib retracement level from the $0.036 low.
It is worth noting that the existence of a few long upper wicks and the ensuing decline has caused the crypto asset to be the biggest loser in the past 24 hours, despite an overwhelmingly positive performance over the past week.
This altcoin failed to break the resistance
Klaytn (KLAY) price has been trading below the $0.34 resistance zone since May 2022. Despite the big increase last week, KLAY still could not close above this level. Doing so could open a high close to $0.47. However, if KLAY price fails to break, it could decline back to the $0.24 support level.
This altcoin is breaking out of resistance
NEO price has rallied since it broke out of a descending resistance line on February 17. The up move was as high as $15.80 on Feb. 21. However, the price has since declined and NEO is now trading just above the $1.20 horizontal support area. If it bounces, it could rise to $15.50 again. However, if a breakdown follows, the price could return to the previous ascending parallel channel at $11.
