Following Bitcoin's recent positive rise, cryptocurrencies have formed a bullish pattern. The altcoins such as FTT, LUNA, KAS, IMX and RPL are the best performing cryptocurrencies, analysis by Coinidol.com.
FTX Token (FTT) has risen above the $1.12 support, indicating that it is in an uptrend. At the time of writing, the upside momentum has quickly increased to a high of $5.52.
The price levels of $2.45 and $2.90 serve as resistance levels that can be overcome by the bulls. Before the recent price rise, FTX Token was in a sideways pattern. FTT has more room to grow as it can cover more ground without hitting barriers.
The fastest growing cryptocurrency over the past week has been FTT. Some of its characteristics are:
Current price: $4.34
Market capitalization: $1,526,715,846
Trading volume: $811,581,624
7–day gain: 189.02%
Terra (LUNA) is gaining ground in an uptrend. On November 10, the altcoin reclaimed the support level of $0.00006726. After a recent price increase, the altcoin is now trading at $0.00009215. The cryptocurrency is expected to face resistance near the high of $0.0001100 as the uptrend to previous highs continues.
The previous downtrend has been halted and the altcoin is now trending upwards above the $0.00005600 support level. Below are the benefits of LUNA, the second best performing cryptocurrency:
Current price: $0.8581
Market capitalization: $864,772,002
Trading volume: $797,983,801
7–day gain: 77.5%
Kaspa (KAS) is in an uptrend, with the price of the cryptocurrency making a series of higher highs and higher lows. The uptrend was broken when it reached a high of $0.05. The price of the altcoin is fluctuating between $0.03 and $0.05, resuming its horizontal pattern.
The sideways trend was interrupted on November 4 when the bulls overcame the $0.05 resistance level. At the time of writing, KAS is trading at $0.099.
Meanwhile, the altcoin is trading below the resistance level of $0.10. KAS has reached the overbought zone of the market. The third most valuable coin, KAS, has the following characteristics:
Current price: $0.09017
Market capitalization: $2,587,835,408
Trading Volume: $74,940,133
7–day Gain: 75.00%
Immutable (IMX) is in an uptrend, with a series of higher highs and higher lows. The cryptocurrency is rising in value as it struggles to reclaim its previous high price of $1.59. The price indication suggested that the cryptocurrency would continue to rise. A retraced candlestick body tested the 61.8% Fibonacci retracement level of the November 5 upswing.
The retracement suggests that IMX will rise to the Fibonacci extension of $1.618 or $1.28. At the time of writing, the altcoin is worth $1.06. It is the fourth most valuable coin and has the following characteristics:
Current price: $1.07
Market capitalization: $2,144,810,583
Trading volume: $394,760,402
7–day gain: 52.8%
Rocket Pool (RPL) is in an uptrend after rising above the $16.85 support level. The price of the cryptocurrency has risen above the moving average lines to a high of $36.49. The price indication predicts that the positive momentum will continue to rise. A bearish candlestick body tested the 50% Fibonacci retracement level of the October 24 upswing. The retracement means that RPL will rise to the Fibonacci extension level of 2.0. At the time of writing, the altcoin was trading at $1.77.
The fifth most profitable cryptocurrency is RPL. The following characteristics characterise Rocket Pool:
Current price: $31.72
Market capitalization: $627,055,480
Trading volume: $20,929,276
7–day gain: 40.49%
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.