Bitcoin and most major altcoins have not had a prominent performance this week. However, some projects marked the week. Casper (CSPR) is up 25 percent on a weekly basis. Trust Wallet Token (TWT) price jumped 12.92 percent. Maker (MKR) rose 12.23 percent, while Toncoin (TON) rose 11.91 percent. Finally, Aave’s (AAVE) weekly performance was around 10 percent. In this article, we will talk about the rise of these coins and the levels set by analyst Valdrin Tahiri. Here are the details…
The first of the most rising altcoin projects on a weekly basis: Casper (CSPR)
CSPR has been sitting below the $0.039 resistance area since the beginning of May. However, after showing a big bullish move, Casper price managed to breakout on October 16th. It reached $0.055 the next day. As we’ve also reported on cryptokoin.com, Casper price has plummeted since then. It confirmed the $0.039 area as support.
The daily RSI (relative strength index) is still rising and has yet to form any bearish bias. Therefore, after another potential retest, CSPR price is likely to surge towards the $0.058 resistance area. Levels below $0.39 indicate bearishness.
Next up for Trust Wallet Token (TWT)
TWT price has been sitting below a descending resistance line since September 2021. Currently, the Trust Wallet Token price is in the process of making its fifth exit attempt. A breakout is likely as the resistors weaken with each test. Also, according to the analyst, the daily RSI is still rising and has not created any bearish bias. If a breakout occurs, the next closest area of resistance will be $1.33 for TWT price. According to the analyst, the uptrend will be invalidated if the coin drops below $0.90.
Where does Maker (MKR) analysis point?
The MKR has been in the descending wedge since June 2021. The descending wedge is considered a bullish pattern. This means that breakage would be the most likely scenario. Additionally, the RSI has finally broken out of the downtrend trendline. This supports the possibility of price breakout from the wedge. If a breakout occurs, MKR price could rise as high as $1,970. However, a drop below $581 invalidates the bullish view.
Next up for TON
TON has been moving upwards since it bounced around the $1.25 horizontal support area on Oct. 13. Shortly after, its price broke out of a descending resistance line. If the upside continues, the nearest resistance area is at $1.66-1.77, where the 0.5-0.618 Fib retracement resistance levels are located. A successful move above this area is expected to push the TON price above $2. However, if it drops below $1.25, the bullish view is invalid.
“C wave” begins in Aave, the last altcoin on the list
AAVE price has been below a descending resistance line since it reached $115.18 on August 13. As a result of the downward movement, it fell as low as $64.71 on October 13. The ensuing bounce formed a long lower candlestick and confirmed the $72 area as support. Shortly after, AAVE price broke out of a descending resistance line. It is possible that an ABC structure (black) of AAVE price has started wave C. There is $135.50 on the upside and $72 on the downside.
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