Crypto News- The Week’s Standout Altcoins:
- Hifi Finance (HIFI) – Soared by an impressive 122.90%.
- Metal DAO (MTL) – Notable price growth of 27.52%.
The Week’s Standout Altcoins: 3 Coins with the Highest Price Increases
The price of HIFI has seen a remarkable surge since June 10th. Initially, it consolidated above the $0.30 mark before gaining momentum on August 17th. Since then, it has been following a parabolic ascending support line.
On September 15th, HIFI reached an all-time high of $1.27, although it experienced a slight dip afterward. This peak coincided with the 2.61 Fib extension level from the initial surge (depicted in black). Historically, this level often acts as resistance during upward trends. If a rejection occurs, HIFI’s price could potentially retreat to the $0.75 support level, which aligns with both the parabolic ascending support line and the 1.61 extension of the initial increase. This would represent a 35% decrease from the current price.
Conversely, if the price manages to break out and establish a new high, the next hurdle lies at $1.60. This level is determined by the 3.61 extension of the same initial surge and would signify a substantial 35% upward movement.
STORJ’s price has been on an uptrend since its low of $0.19 on August 17. On the same day, a long lower wick (represented by the green icon) emerged, indicating buying pressure.
Early in September, the price established a higher low and accelerated its upward momentum. By September 13, it successfully breached the $0.32 horizontal resistance level, signaling the potential start of a new upward trend. If this bullish momentum continues, STORJ may see a 50% increase to its next resistance at $0.50.
Conversely, a close below the $0.32 support area would invalidate the ongoing breakout. In such a scenario, a 30% decline to the $0.23 support level could be the anticipated price movement.
MTL’s price trajectory took a positive turn after finding support at the long-term triangle’s lower boundary on August 17th (indicated by the green icon). Notably, this triangle pattern has been in existence since November 2022. Subsequently, MTL experienced a breakout from this pattern on September 13th.
Despite the breakout, the price has yet to make a substantial move and continues to hover just below the $1.60 horizontal resistance level. If the price were to follow a path equivalent to the entire pattern’s height, it could potentially reach $2.60. This would mark a significant 65% increase.
However, should MTL struggle to surpass the $1.60 resistance, there’s a chance of a 12% decline, with a possible retest of the triangle’s upper boundary at $1.40.
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