Optimism (OP), the Ethereum-based second layer Blockchain, has gained 98% since last week. Thus, it became the most profitable altcoin project of the week of July 22-29. In this article, let’s take a look at the top 5 altcoins that have gained the most since last week. Analyst Valdrin Tahiri identifies critical resistance levels for the coming days.
- Optimism (OP): 98.47%
- Ethereum Classic (ETC): 67.99%
- Bitcoin Gold (BTG): 55.75%
- Qtum (QTUM): 34.64%
- Ravencoin (RVN): 28.30%
5 altcoins with the biggest gains of the week
Optimism (OP)
Optimism (OP) has been moving up since July 13 with an ascending support line. The price bounced off the support line on July 26, greatly accelerating the momentum. The OP thus broke out of the $0.95 horizontal resistance area. Later, it rose as high as $1.73 on July 29. If the OP manages to stay above the $1.56 horizontal area, it will lead the bulls to ATH levels.
Ethereum Classic (ETC)
Ethereum Classic (ETC) broke out on June 24 from a descending resistance line that has been present since the end of March. The upside has accelerated on July 15 and 27, with ETC reaching $45.5 so far. This also resulted in a break above the 0.618 Fib retracement resistance at $37.20. The next resistance area for ETC price is at the March high of $52.
Bitcoin Gold (BTG)
In the period between May 12 and July 16, BTG launched the long-needed upward momentum. It then managed to break out of a descending resistance line on July 18. It then climbed above the $27 horizontal area that previously acted as resistance. Currently, BTG is trading just below the 0.618 Fib retracement resistance level. The next area of resistance is $47.50.
Qtum (QTUM)
Another high performance Qtum (QTUM) has been moving upwards since July 13. The upside sharp move broke out of the horizontal resistance area of $4.40 on July 28. Therefore, the field is now expected to provide support. If the upside continues, the next closest resistance area will be at $5.55.
Ravencoin (RVN)
Ravencoin (RVN) has been falling within a long-term descending parallel channel since August. In June, the price bounced off the support line of this channel and has been increasing ever since. RVN is currently approaching the middle of the channel at $0.04. A break above this line could accelerate the upside momentum.
cryptocoin.com As you follow, Bitcoin reached its local high of $24,572.58 on July 30. Meanwhile, 2.88% and 11.35% are green, respectively, over the last 24 hours and 7 days.
