Top Weekend Performers: These 3 Cryptos Beat the Market

Crypto News- During the weekend, the cryptocurrency market saw notable performances from Stratis (STRAX), Band Protocol (BAND), and Bitcoin SV (BSV). STRAX reached a new yearly high, BAND broke free from a long-standing descending resistance trendline, and BSV is approaching a critical resistance level.

Top Weekend Performers: These 3 Cryptos Beat the Market

STRAX Sets a New Yearly High

STRAX has been on an impressive upward trajectory since it hit a low of $0.38 in September. Over the past few weeks, it experienced a substantial surge, culminating in a new yearly high of $1.22. This surge led to a breakout and close above the $0.85 horizontal resistance zone. Notably, well-known crypto trader Anbesa100 had predicted this upward move back in mid-September.

During this rally, the daily trading volume reached a 7-month high, as reported by Santiment, with the 24-hour volume currently standing at $577 million, almost four times STRAX’s market capitalization. If the bullish momentum continues, STRAX could advance by 27% to reach the next nearest resistance level at $1.40. However, any sudden loss of momentum and the formation of a bearish candlestick could lead to a 25% decline, potentially revisiting the $0.85 horizontal support area.

BAND Breaks Free from Long-Term Resistance

BAND had been held under a descending resistance trendline since its all-time high in April 2021, hitting a low of $0.85 in August. However, the price rebounded and successfully broke free from the trendline last week. Remarkably, this trendline had been in place for 910 days at the time of the breakout.

BAND stands out as the top performer among the top 160 cryptocurrencies ranked by market capitalization in the past 24 hours. If the current uptrend continues, BAND may aim for the $3.20 resistance area, representing a 130% increase from its current price. Conversely, if BAND fails to sustain this momentum, it could experience a 25% drop, confirming the validity of the descending resistance trendline at $1.15.

Bitcoin SV Leads the Crypto Gainers

BSV’s price has been following an ascending support trendline since June, with noticeable bounces at this trendline on September 11 and October 9. The pace of increase significantly accelerated on October 16. BSV is now approaching the $40 horizontal resistance area, which has been in place since July and forms an ascending triangle when combined with the ascending support trendline.