These 5 altcoins, which keep the light on the crypto money market and come to the center of attention with the news, have been determined this week. cryptocoin.comWe have compiled the most profitable altcoins of the week for you.
This altcoin stands in the first place
Maker (MKR) price broke below a descending resistance line since July 2022. This streak has caused numerous rejections so far, the most recent one being on March 2. The coin then formed a long upper wick and has since fallen.
If the downside continues, the nearest support area will be $788. However, if MKR price breaks out of the resistance line, a rise towards $1,200 could follow.
ssv.network (SSV) exceeded resistance
SSV price broke out of a descending resistance line on March 3. It went up to $45.90 on the same day. However, the price did not climb above the 0.618 Fib retracement level at the $44.73 level. If it does, it could rise to $50. However, the price could decline to the $41 support area if it is rejected.
SingularityNet (AGIX) risk distribution
AGIX price fell after hitting $0.67 on February 8. It then began to recover on February 13. It has since increased within an ascending parallel channel. Such channels often contain corrective actions. Therefore, a casting from it would be the most likely scenario. This is supported by the rejection from the channel’s resistance line (red icon) on March 1, which also coincides with the 0.618 Fib retracement resistance level.
If AGIX price breaks out of the channel, it could drop to $0.30. However, a breakout from the channel invalidates this bearish prediction and could lead to an increase towards $0.80.
Casper Network (CSPR) creates top model
Casper (CSPR) price formed a double top pattern on February 4 and March 6 respectively. Alongside a bearish pattern, the double top was combined with a bearish divergence on the daily RSI (green line). A refusal and a drop is therefore the most likely blueprint for future action.
If this happens, CSPR price could decline to the 0.618 Fib retracement level from the $0.033 low. However, if the previous upward move continues, CSPR price could rise to the next resistance at $0.05.
Threshold (T) exceeded resistance
Threshold (T) price has rallied since it broke out of a descending resistance line on January 23. The up move was as high as $0.065 on January 26. However, the price was rejected by the $0.054 resistance area, forming a long upper wick.
After a bounce at the $0.033 0.618 Fib retracement support level, the price is currently attempting another breakout. If successful, the price could rise to the next resistance at $0.08. However, if Threshold (T) price breaks from the 0.618 Fib retracement support level, it could drop to $0.023.
