Stacks (STX) & Terra (LUNA) Reach New All-Time Highs – Biggest Weekly Gainers

Source : beincrypto.com

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In this article, BeIn crypto takes a look at the seven altcoins that increased the most last week, more specifically from Nov 26 to Dec 3.

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These altcoins are:

  1. Terra (LUNA) : 71.46%
  2. Reserve Rights (RSR) : 45.04%
  3. Stacks (STX) : 35.98%
  4. Polygon (MATIC) : 35.39%
  5. Ocean Protocol (OCEAN) :34.73%
  6. OKB (OKB) : 23.61%
  7. Solana (SOL) : 23.11%

LUNA

On Nov 16, LUNA broke down from an ascending wedge. However, it found support at $38.70 and initiated another upward movement on Nov 28. 

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On Dec 3, the token reached a new all-time high price o $69.66.

The next closest resistance area is between $80 and $83. It is created by both the short- and the long-term 2.61 external Fib retracement levels.

Chart By TradingView

RSR

On Nov 29, RSR broke out from a descending resistance line, that had previously been in place since Aug 25. This confirmed that the short-term correction was complete. 

Afterwards, it reached a high of $0.059 on Dec 2. However, it failed to break out above the $0.057 resistance area (red icon) and has been moving downwards since. RSR is potentially looking to validate the previous descending resistance line as support.

Once RSR breaks out from the $0.059 area, the rate of increase is expected to accelerate.

RSR Descending resistance
Chart By TradingView

STX

On Nov 30, STX broke out from a descending resistance line that had been in place since April 5. It proceeded to reach a new all-time high price of $3.25 the next day.

While it fell afterwards, it is attempting to hold on above the $2.60 horizontal support area and validate the previous descending resistance line as support. If successful, it is likely to move toward new highs.

STX upward movement
Chart By TradingView

MATIC

MATIC has been increasing alongside an ascending support line since July 20. After a brief correction on Oct 29 – Nov 18, it began another upward movement on Nov 18.

It is currently approaching the horizontal resistance area at $2.45. This is the final resistance area prior to a new all-time high price.

MATIC Support
Chart By TradingView

OCEAN

Similarly to MATIC, OCEAN has been following an ascending support line since Nov 18 (green icon). So far, it has reached a high of $1.44, doing so on Dec 1. 

Currently, it is attempting to break out from the 0.618 Fib retracement resistance level at $1.33. Doing so would likely take OCEAN towards a new all-time high price.

OCEAN Support
Chart By TradingView

OKB

OKB is also following an ascending support line, doing so since Sept 16. More recently, it bounced on it on Nov 28 (green icon). 

Afterwards, it broke out from a descending resistance line (dashed). It is currently approaching the Nov highs at $33. The rate of increase is likely to accelerate once OKB is successful in breaking out.

OKB Support
Chart By TradingView

SOL

SOL broke out from a descending resistance line on Nov 30. Two days later, it reclaimed the $230 resistance, which is both a horizontal resistance area and the 0.618 Fib retracement resistance level. 

The next resistance is at the all-time highs at $260, and then at $308 afterwards.

SOL Breakout
Chart By TradingView

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto’s Senior Analyst.

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