Near Protocol (NEAR) Pumps by 63% Since Dec 4 Low- Biggest Weekly Gainers

BeInCrypto takes a look at the seven altcoins that increased the most over the past week, more specifically from Dec 3 to Dec 10.

These altcoins are:

1. Flux (FLUX) : 69.09%
2. Near Protocol (NEAR) : 16.30%
3. DeFiChain (DFI) :4.93%
4. UNUS SED LEO (LEO) : 4.74%
5. BitTorrent (BTT) : 3.39%
6. Terra (LUNA) : 2.25%
7. Huobi Token (HT) : 1.64%

FLUX

On Dec 10, FLUX initiated a rapid upward movement. This led to a high of $2.90. It was only $0.06 below the current all-time high price of $2.96. 

However, it fell immediately afterwards, creating a long upper wick with a magnitude of 22.5%.

Nevertheless, it seems clear that FLUX has broken out from the descending resistance line that was previously in place since the all-time high of Nov 12. Therefore, it is likely that the correction is complete.

If the token reached a new all-time high, the next closest resistance would be at $4.13. This is the 1.61 external Fib retracement resistance level when measuring the entire drop.

NEAR

On Dec 4, NEAR seemingly broke down from the $7.20 horizontal area. However, similarly to what transpired in Sept-Oct (red circle), the token bounced afterwards and reclaimed the area. 

Since then, it has increased by 63%. 

Such deviations are usually followed by significant movements in the other direction. Therefore, it is possible that NEAR will continue increasing towards a new all-time high price.

DFI

On Dec 2, DFI increased considerably and broke out from an ascending parallel channel. The same day, it reached a high of $6, just slightly below the current all-time high price of $6.03. 

However, the ensuing drop served to validate the $5.55 area as resistance. This is the final resistance area prior to a new all-time high. 

Therefore, a breakout above it could greatly accelerate the rate of increase.

LEO

LEO has been gradually moving upwards since May 28. So far, it has increased by nearly 82%. 

It is approaching the current all-time high of $3.92. 

If it is successful in moving above it, the next resistance area would be at $5.07.

BTT

BTT has been increasing alongside an ascending support line since June 22. More recently, it bounced at the line on Dec 4, validating it as support for the third time. 

BTT has been increasing since, and is approaching the $0.005 resistance area, which has been in place since Aug. A movement above it could greatly accelerate the rate of increase.

LUNA

LUNA has been increasing since Nov 24. On Dec 4, it reached a new all-time high price of $78.22, which amounted to an upward movement of 81.5% when measuring since Nov 24. 

The high was made very close to both the long- (black) and short-term (white) 2.61 external Fib retracement levels when measuring the previous drops. 

However, the token has created what resembles a double top (red icons), which is considered a bearish reversal pattern. 

Therefore, it is possible that LUNA will decrease in the short-term.

HT

On Dec 4, HT reached a low of $7 and bounced. The bounce created a very long lower wick, which is considered a sign of buying pressure. Furthermore, it validated the $7.70 horizontal area as support. 

If HT continues to increase, the next closest resistance levels would be at $11.20 and $14.30.

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