Among these 5 altcoins on Binance, there are also artificial intelligence coins, it perfectly sums up the emerging crypto market.
AI coins lead
AGIX price was the top earner in the crypto space last week. It has increased considerably since the beginning of the year. It hit an all-time high of $0.671 on February 8. However, it formed a bearish candlestick on the same day and has been falling ever since. AGIX dropped to the 0.5 Fib retracement level from the $0.354 low the next day.
Therefore, the price could trade between the 0.5 Fib level and the all-time high. On the other hand, if it breaks below $0.354, the digital asset could drop to $0.279. These popular altcoins are in the crypto news and cryptocurrency market spotlight:
- SingularityNET (AGIX) price up 133.01%
- The Graph (GRT) price increased by 64.81%
- Rocket Pool (RPL) price up 23.23%
- Lido DAO (LDO) price up 21.85%
- Frax Share (FXS) price increased by 18.45%
The Graph dropped
The GRT price has fallen since its peak on February 7, when it reached $0.232. It created two consecutive bearish candlesticks, reaching a minimum of $0.140 on February 9. The price then bounced and is now trading 33% below February 7 high.
If the bounce continues, the $0.187 area will likely provide resistance. On the other hand, the closest support area would be $0.135. The region, which previously acted as resistance, is now expected to provide support.
Rocket Pool exits parallel channel
RPL price broke out of an ascending parallel channel on February 8. The next day, it formed a long upper wick to $56,600 and started to decline. The rejection confirms the 1.61 external Fib level as resistance.
Therefore, the most likely future price prediction is a drop towards the intersection of the support levels at the $40 level. It creates a horizontal support area and support line of the channel. On the other hand, a close above the 1.61 Fib level could open an upside move from the $65,670 low to the $2.61 extension.
Lido DAO shows weakness
The LDO price has skyrocketed since the beginning of the year. But since January 8, it has created three long top wicks, which are considered a sign of weakness. They are also combined with the bearish trend in the RSI.
If the divergence catalyzes a downside move, the digital currency could drop to $1,750. However, if the upward move continues, LDO price could rise above $3 and hit an all-time high.
Frax Share ends altcoin gains
FXS price has rallied at an accelerating rate since it broke out of the $7,500 resistance area on Jan. According to cryptokoin.com data, the increase rose to $ 14,259 on February 9th.
However, the price created a long upper wick and bearish divergence at the RSI (green line). Therefore, a downside move towards $7,500 could follow this. On the other hand, if the upside continues, the nearest resistance will be at $17,500.
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