The editors of BeInCrypto have compiled a top list of altcoins that showed the maximum increase in the week from March 31 to April 7
In addition to DOGE, the list of these altcoins includes:
- Solar (SXP) +46.46%
- Injective (INJ) +21.24%
- Dogecoin (DOGE) +14.13%
- Frax Share (FXS) +13.98%
- Casper (CSPR) +13.47%
Solar (SXP) at the forefront of successful altcoins
The results of the technical analysis of the daily chart show that the price of the SXP broke through the line of descending resistance on March 29 and has since grown vigorously..
As a result, on April 3, the market reached a maximum of $0.94.
However, the bulls were too tough for the $0.93 resistance area, and the price pulled back from these levels.
If the decline continues, SXP should find support at $0.66 (Fibo level 0.382 correction).
Meanwhile, the next immediate resistance is at $1.40.
The INJ price hit a low of $2.45 on March 10 and started to rise rapidly from it (green badge).
On April 2, the price made a bullish breakout of the rising resistance line, and on April 6 it turned into support (green icon).
If the uptrend continues, the next resistance will come into play at $6.50.
If the market loses momentum, the INJ token may roll back to the $4.40 horizontal support area.
BeInCrypto previously revealed that Injective and Eclipse are launching Cascade, a Layer 2 (L2) scaling solution network where Solana dApps will be deployed in the future.
This week, the Dogecoin project token has been in the spotlight after the Twitter logo changed on April 3.
The famous blue bird has been replaced with an image of a Shiba Inu dog, which has become a symbol of the favorite cryptocurrency of the new owner of the platform, Elon Musk – Dogecoin (DOGE).
Investors massively took the actions of the Musk team as a hint at the integration of DOGE into Twitter, and this provoked an aggressive token rally.
On April 3, DOGE broke through the descending resistance line, but rebounded from the 0.382 Fibo level of correction by $0.10.
Now the meme coin is trying to turn the former resistance line into support.. If successful, the market may break through the $0.10 area and continue to rise towards the 0.618 Fibo level of $0.12 retracement.
If DOGE falls below the descending resistance line, it could weaken to $0.07.
Note that today Twitter returned the old logo, and DOGE reacted to this news by dropping.
In addition, the BeInCrypto editors previously said that on-chain indicators warn of a possible correction.
As BeInCrypto previously reported, the native tokens of popular liquid staking platforms, including Frax Share, rallied immediately after the Ethereum Foundation announced the exact date for the activation of the Shapella update, which will allow ETH holders to withdraw locked coins from Beacoin Chain.
FXS bounced off the $7.50 horizontal support area on March 10 and has been rising ever since.
The price has made a rising low and is now trying to break through the $10 resistance area.
If successful, the token may rise to $12.80, and a rebound from current levels will provoke a fall to $7.50.
loses the top list of altcoins of the week is the Casper blockchain token, the developer of which – Casper Labs – recently became a partner of Google Cloud cloud storage as part of the search giant’s campaign to develop the Web3 direction.
Since October 2022, the CSPR has been moving along a descending resistance line.
The price has bounced off this barrier many times, the last time was on April 4th (red icon).
With each touch, the resistance becomes weaker, so there is a chance that the market will eventually break through it.
A bullish break could send CSPR to at least $0.50.
If we see another bounce, the price may drop to the $0.34 support area.
