Blockchain

Magnificent Seven: XTZ, AVAX, TEL, ENJ, XMR, SOL, ZEN — Biggest Gainers Aug 20 – 27

BeInCrypto takes a look at the seven altcoins that increased the most over the past seven days, from Aug 20 to 27.

Szponzorált
Szponzorált

Ezek az altcoinok: 

  • Tezos (XTZ) : 26.23%
  • Avalanche (AVAX) : 24.21%
  • Telcoin (TEL) : 23.30%
  • Enjin Érme (ENJ): 18.58%
  • Monero (XMR): 14.56%
  • Solana (SOL): 14.40%
  • Horizen (ZEN) : 13.13%

XTZ

XTZ has been increasing since July 20, when it was trading at a low of $2.10. In a span of 36 days, it increased by 160%, leading to a high of $5.45 on Aug. 25. 

Szponzorált
Szponzorált

However, it was rejected by the 0.5 Fib retracement resistance level at $5.26 and has been moving downwards since. 

The main support area is at $3.85. This is a horizontal support area that coincides with an ascending support line.

TEZOS movement
Diagram TradingView szerint

AVAX

On Aug. 16, AVAX broke out from a descending resistance line. It proceeded to increase at an accelerated rate and reached a high of $58.98 on Aug. 24. The high was just slightly below the current all-time high price of $60.20. 

However, the token was rejected and created a bearish engulfing candlestick. In addition to this, both the MACD an RSI are showing signs of weakness. 

It is possible that AVAX will consolidate inside the $56.50 and $38 range.

Diagram TradingView szerint

TEL

TEL has been moving upwards since July 20. It broke out from a descending resistance line three days later and reclaimed the $0.0205 horizontal resistance area on Aug. 22. Afterwards, it reached a high of $0.0298 the next day before decreasing.

Despite the drop, both the MACD and RSI are still bullish. Furthermore, TEL is still trading above the $0.0205 horizontal area, which is now expected to act as support. The next resistance area is at $0.037.

TEL reclaim
Diagram TradingView szerint

ENJ

ENJ had been increasing inside an ascending parallel channel since June 22. On Aug. 21, it finally managed to break out from the channel and proceeded to reach a high of $2.20 two days later. 

While it fell afterwards, it has returned and validate the resistance line of the channel as support (green icon). 

A következő legközelebbi ellenállási terület 2.75 dollár.

ENJ Breakout
Diagram TradingView szerint

XMR

XMR has been moving upwards alongside an ascending support line since July 20. On Aug. 21, it broke out from the $275 horizontal resistance area and proceeded to reach a high of $339.7 three days later. 

However, it is still facing resistance from the 0.5 Fib retracement resistance level. A breakout above it could be the catalyst for a sharp upward movement.

XMR Mozgalom
Diagram TradingView szerint

SOL

SOL has been increasing rapidly since July 20. It proceeded to reach a new all-time high price of $82 on Aug. 21. After a slight drop, it initiated another upward movement and managed to reach a new all-time high of $84.17 on Aug. 27. 

However, the token has decrease slightly and is trading at the 1.61 external Fib retracement at $81.51. A close above this level could trigger a sharp upward movement towards the next resistance area at $118.50. 

However, there is a potential bearish divergence developing in the RSI. Therefore, today’s close will have a crucial role in determining the future trend.

SOL ATH
Diagram TradingView szerint

ZEN

ZEN has been moving upwards since breaking out from a descending resistance line on July 22. The upward movement continued until a high of $91.73 was reached on Aug. 25. 

However, ZEN was rejected by the 0.382 Fib retracement resistance level and has been moving downwards. Despite the drop, the MACD and RSI are still bullish and the token is following an ascending support line. 

Nevertheless, a reclaim of the $94 resistance area is required in order for the trend to be considered bullish.

ZEN Increase
Diagram TradingView szerint

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Source: https://beincrypto.com/magnificent-seven-xtz-avax-tel-enj-xmr-sol-zen-biggest-gainers-aug-20-27/