In this article, BeInCrypto will take a look at the seven cryptocurrencies that increased the most over the past seven days, more specifically from Jan 7 to 14.
These cryptocurrencies are:
- Oasis Network (ROSE) : 35.20%
- Dogecoin (DOGE) : 26.90%
- Near Protocol (NEAR) : 24.67%
- Secret (SCRT) : 18.17%
- Dash (DASH) : 16.57%
- FTX Token (FTT) : 14.45%
- Harmony (ONE) : 10.47%
ROSE has been increasing since Jan 10, when it reached a low of $0.30. Four days later, it reached a new all-time high price of $0.538. This amounted to an increase of 77%.
The token has decreased slightly since, potentially returning to validate the $0.455 area as support. If the re-test is successful, the next closest resistance levels would be at $0.55 and $0.70, respectively. They are the 1.61 and 2.61 external Fib retracement resistance levels, respectively.
On Jan 10, DOGE fell to a low of $0.136. This was a very bearish development, since it indicated that the token had broken down below the $0.165 support area, which had been in place for 257 days.
However, DOGE reclaimed the area shortly afterwards and has been moving upwards since, reaching a high of $0.21 on Jan 14.
The closest resistance is at $0.245, created by a descending resistance line. A breakout above it could greatly accelerate the rate of increase.
NEAR has been increasing inside an ascending parallel channel since Dec 18. This led to a new all-time high price of $20.4 on Jan 14. The high was made very close to the resistance line of the channel.
In addition to this, both the MACD and RSI have generated considerable bearish divergences, which often precede bearish trend reversals.
Therefore, it is possible that NEAR will decrease towards the middle and possibly the support line of the channel.
SCRT had been decreasing alongside a descending resistance line since Oct 28. On Dec 24, it broke out from the line and returned to validate it as support (green icon) five days later. It has been moving upwards since.
Currently, it is trading right at the 0.618 Fib retracement resistance level at $8.20. This is also a horizontal resistance area. A breakout above it could greatly accelerate the rate of increase.
On Dec 4, DASH reached a low of $110 and bounced, creating a long lower wick. This validated the $115 area as support once more. The area has been in place since June 2021.
On Jan 7, the token bounced once more after reaching this level, creating a higher low (green icon).
The closest resistance level is at $170, created by a descending resistance line.
FTT had been decreasing alongside a descending resistance line since reaching an all-time high price of $84.7 on Sept 9. The downward movement led to a low of $33.8 on Jan 8.
The token has been moving upwards since and has currently reached the descending resistance line once more. A breakout above it would confirm that the correction has come to an end.
In that case, the closest resistance would be at $53.4, created by the 0.382 Fib retracement resistance level.
ONE had been decreasing alongside a descending resistance line since Oct 26, when it reached an all-time high of $0.38.
On Jan 2, it broke out from this resistance line and returned to validate it as support two days later (green icon).
After initiating another upward movement, it broke out from the $0.325 area on Jan 12.
If a new all-time high is reached, the next resistance area would be all the way at $0.53, created by the 1.61 external Fib retracement resistance level.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
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