Leading crypto analysts made predictions by commenting on the 5 altcoins that have experienced the highest rise in the last week! Here are the predictions for 5 altcoin projects consisting of Conflux (CFX), Stacks (STX), Singularity NET (AGIX), Immutable X (IMX) and Render Token (RNDR)…
These 5 Altcoin projects managed to become the favorite of the week!
As Cryptokoin.com reported, the crypto money market has been facing declines for a long time. While the downward wave that followed the rapid start of 2023 hit many investors, the new Bitcoin (BTC) rally that started recently gave hope to many investors. Along with the rally, Bitcoin managed to surpass the $ 28,000 level today. At the same time, the altcoin market has also increased. The top risers of the week are as follows:
Conflux (CFX)
Conflux (CFX) price has been bullish since it bounced off the horizontal support area at $0.145 on March 11. The altcoin, which stretched to the levels of $ 0.36 on March 15, declined by making a long upper wick (red icon). With respect to the price on February 20, this formed a double top, which is considered a bearish trend.
However, if the downside continues, CFX price could decline to the $0.145 support area. Conversely, if the upside continues, CFX price could rally to the $0.51 region. Instantly, the popular altcoin CFX is trading at $ 0.45 and has risen 13 percent in the last 24 hours. Its market value is $955 million and has gained more than 217 percent in the last week.
Stacks (STX)
Similar to Conflux, the STX price has also formed a double-topped model (shown in red icons). This model was characterized by a very long upper wick on March 15. As a result, if there is a downside move, the popular altcoin STX may experience a pullback to the $0.73 level. On the contrary, if it continues to rise with its previous increase, STX may rise to the $1.50 levels.
However, the popular altcoin STX is instantly traded at $1.23. Stacks, which draws attention with its market value of $ 1.6 billion, has recently attracted the attention of investors. The increasing value of the project in the last week is over 100 percent.
SingularityNET (AGIX)
On the other hand, the rise in artificial intelligence coins with the recent release of OpenAI’s new artificial intelligence language GPT-4 has attracted many investors to the world of artificial intelligence. Since February 8, AGIX price has fallen below a descending resistance line. This streak has resulted in three refusals so far. However, the move below the resistance line looks like a completed ABC corrective structure. As a result, experts expect a breakout. In such a case, the AI coin could rise to $0.90. However, if levels reject AGIX price again, a drop to $0.29 could follow. Instantly, the popular artificial intelligence coin is trading at $0.53. The market value of the project is 639 million dollars. The last week’s increasing value of the project is over 70 percent.
Immutable X (IMX)
On the other hand, IMX, another of the popular altcoin projects, has been on the rise since March 11th. The price broke out of the $1.25 resistance area on March 17 but has yet to close above it. With the continuation of the increase, the next resistance will be at the $1.86 level. However, if the price closes below $1.25, the coin could drop back to the $0.90 level. Instantly, IMX is trading at $1.54 and has a market cap of $1.3 billion. It has risen over 90 percent in the last week.
Render (RNDR)
Render (RNDR), one of the most prominent altcoin projects of recent times, has fallen since breaking through a parabola on February 8. The decline was found at $0.89 on March 19. Since then, the coin’s price has surged, potentially completing an ABC corrective structure. This will be confirmed by a breakout from the descending resistance line and could lead to at least $2. However, if another rejection occurs, RNDR could drop to $0.75. Instantly, the project is trading at $1.58 and has a market value of $567 million. It has gained more than 60 percent in value in the last week.
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