Let’s examine the top 5 altcoin projects in the week from March 25 to April 1, with the technical analysis of analyst Valdrin Tahiri.
- Ziliqa (ZIL) : 332.60%
- STEPN (GMT) : 323.28%
- SKALE Network (SKL) : 102.80%
- WAVES (WAVES) : 81.32%
- IOST (IOST) : 71.68%
These 5 altcoins hit record profits for the week
ZIL came out of a descending wedge on March 10 rising ever since. If the upside continues, the next resistance is $0.24, which is an area very close to the ATH price. It’s worth noting, however, that all the increase since the original breakout has barely come back. Therefore, it would be customary to retest at least the $0.148 area.
GMT has been increasing parabolic since 9 March. The uptrend accelerated further on March 29 (green icon). Since then, GMT has increased 286% in less than four days. Using the length of the previous drop, the next closest resistance is $3.20. You can access the STEPN (GMT) analyzes we prepared as Kriptokoin.com here.
SKL has been falling below a long-term descending resistance line since March 12. After many unsuccessful exit attempts, SKL finally made it on 26 March. It has been moving upwards at an accelerating rate ever since. The next closest resistance area is $0.48. Similar to
SKL, WAVES has been falling next to a descending resistance line since May 4th. The high was made at the 1.61 external Fib retracement level, which usually acts as resistance after the ATH levels. WAVES has formed a long top wick since (red icon) which is considered a sign of selling pressure.
IOST has been moving upwards since January 22 and accelerated its rate of increase on March 26. Unlike SKL and WAVES, IOST is following a descending resistance line currently at $0.065. The line is very close to the 0.618 Fib retracement level of the $0.061 high. A break above this can be expected to accelerate the rate of increase towards ATH price.
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