BeInCrypto is looking at five cryptocurrencies that increased the most in the crypto market this week, specifically from the 7th to the 14th of April.
The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). This week, these bullish cryptocurrencies stole cryptocurrency news and the cryptocurrency market spotlight:
The Woo Network (WOO) is ahead of the Altcoin Gainers
The price of WOO has increased since April 9th. The cryptocurrency price broke out from the $0.26 horizontal resistance area on April 14, forming a large bullish candle.
If the increase continues, the next resistance is at $0.39, which is an increase of 38% from the current price. The upward movement is supported by the daily RSI, which moved above the 50 level.
However, WOO could return to the $0.26 support level if the rally loses steam.
Arbitrum (ARB) price is nearing an all-time high
ARB price broke out from the $1.27 resistance area on April 13 and reached a high of $1.59 the next day. This is very close to the all-time high.
If the increase continues, ARB could move to the outside 1.61 Fibonacci retracement at $1.66 (white). This would be a new all-time high.
However, if the rally loses steam, the digital asset could drop to the $1.43 support.
Rendering symbol (RNDR) price breaks out from the resistance line
RNDR price broke out from the descending resistance line on April 10th. The breakout was also combined with the RSI moving above 50 (green circle). The bullish crypto reached a high of $1.70 two days later. Currently, the price is trading below the horizontal resistance area and the $1.70 Fibonacci resistance.
If the RNDR breaks, it could move to the next resistance at $2.15. However, if it is rejected, a drop to the resistance line at $1.10 could follow.
Solana (SOL) The price is approaching resistance
The price of SOL has increased since March 10th. It hit a higher low on April 9 before accelerating the rate of increase. The price is now approaching the $26 resistance area. If it is broken, the next resistance is at $36.
However, if the price is rejected, it could drop to the $20 support.
Injectable altcoin (INJ) eliminates resistance
INJ price has been rising since breaking out of the rising resistance line and validating it as support on April 6 (green symbol). The increase accelerated after that, and the price cleared the $6.50 resistance area on April 12th.
If the upward move continues, the next resistance is at $9.80. However, if the price falters, a retest of $6.50 may be on the cards.
For the latest cryptocurrency market analysis from BeInCrypto, click here.
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions.