Top Altcoin Gainers – August 23 – 29

Briefly –

  • REV traded at another ATH at $0.023
  • SOL and SAND attained their new ATHs on 30 August.
  • XTZ faces resistance near $6.
  • Let’s analyze the altcoin shakers and movers over the previous week. Will the tokens sustain their momentum?

Revain (REV)

REV has seen price upticks since 20 July, when the token traded at the $0.005 lows. The upside stance saw the alternative coin hitting an ATH on 30 August at $0.023. Technical indicators suggest bullishness as the MACD and RSI appear to increase. However, the Relative Strength Indicator hovers at the overbought region.

The alt’s nearest resistances locates at $0.027 (0.382 Fibonacci retracement resistance) and then $0.033. The latter serves as both a horizontal resistance and the 0.5 Fibonacci retracements.

The Sandbox (SAND)

SAND has maintained an increasing outlook since overpowering the descending wedge, confirming the level as its support on 25 August. On 29 August, the alt reclaimed the horizontal resistance at $0.80 before extending its efforts to attain an ATH near $1.20 the following day. For now, SAND appears to create a potential shooting star candle and a long top wick.

Meanwhile, daily timeframe technical indicators retain bullishness. The Relative Strength Index (RSI) confirms that as it maintains over the 70 levels. The asset’s nearest resistance stands at $1.375, the 1.61 external Fibonacci retracement resistance zone.

Tezos (XTZ)

XTZ has registered uptrends since 20 July. The coin surged a whopping 195% in 39 days. With such price actions, the token experienced a $6.18 high on 29 August. However, it faced rejections at 0.618 Fibonacci retracement resistance, decreasing slightly.

Meanwhile, the MACD and RSI indicators depict bullishness despite the coin’s plunges. However, the asset will have to recapture the FIB resistance to confirm a bullish trend.

Solana (SOL)

SOL has maintained upward price movements since 20 July. The altcoin network managed to hit a new ATH at $82 on 21 August. With that, it made its high around the 1.61 external Fibonacci resistance area.

Meanwhile, SOL resumed the uptrends on 25 August after slight losses, proceeding to another record high at $101.96 on 30 August. Though the RSI indicates a bearish divergence, it still increases with the MACD. Solana (SOL) has its following resistance at $118.50.

Do you think that these altcoins will maintain their uptrends in the coming week? You can reply below.

Leave a Reply

Your email address will not be published. Required fields are marked *