The 5 altcoins that gained the most value last week between April 22 and 29 were APE, KNC, KAVA, GMT and CRV. With the current levels slightly corrected, let’s look at analyst Valdrin Tahiri’s technical analysis to identify the next support and resistance levels.
- ApeCoin (APE) : 59.17%
- Kyber Network Crystal v2 (KNC) : 20.79%
- Kava (KAVA) : 15.70%
- STEPN (GMT) : 11.27%
- Curve DAO Token (CRV) : 6.16%
Here are the top 5 altcoins this week
Apecoin (APE) The price has been rising at an accelerated rate since April 18. The upward move initially took the form of an ascending wedge, which was considered a bearish divergence. However, APE managed to debut on April 28 and reached $27.60 on the same day. It missed the ATH level of $28 by just $0.40. It also formed a bearish candlestick pattern with a very long upper wick. Despite the drop, APE has managed to stay above the resistance line of the previous wedge and potentially confirming it as support.
Kyber Network (KNC) has been rising in a rising wedge since April 6th. A rising wedge is considered a downtrend. Currently KNC is trading very close to the resistance line of the wedge. Additionally, the RSI has created a bearish bias. As a result, a malfunction seems like the most likely scenario. In such a case, the closest support areas are $4.63 and $2.29.
Kava (KAVA) has been trading below the $4.90 horizontal resistance area since March 28. After three unsuccessful attempts, he finally managed to hover above the field on April 24. Then, two days later it confirmed it as support (green icon). As long as the line is in place, the bullish structure can remain intact.
On April 18, STEPN (GMT) broke out of the $3 area and confirmed it as support three days later. GMT has been moving upwards since then, reaching the ATH level of $4.17 on April 28. However, the higher was combined with the bearish divergences in the RSI and GMT and has been falling ever since. If the downside continues, the $3 area is likely to provide support once again.
The CRV has been on the rise since breaking out of a descending resistance line on April 19, as we have seen in the analysis of cryptokoin.com. This breakout hit $2.77 on April 24. This confirmed the $2.75 area as resistance (red icon). CRV has been declining since then. If the downside continues, the nearest support area is $1.90.
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