This week, the five highest-growing altcoins have attracted attention in the crypto market. These bullish altcoins stole the spotlight from the market as winners of the week. Here is a list of the most appreciated altcoin projects and analyst Valdrin Tahiri’s expectations for them…
RNDR is one of the most rising altcoin projects
The RNDR price has increased since the beginning of the year. It’s up 42 percent this week. At the beginning of late April, it broke above the $2.10 horizontal resistance area. However, it fell under again soon after. This showed that the previous increase was just a deviation. Despite this move, the RNDR again broke above the resistance area on May 17. Now, the region is expected to provide support again. If the increase continues, the next resistance will be $3.10. However, if the RNDR slips, it could drop back to the $2.10 support zone.
Pepe (PEPE) has regained significant support
cryptocoin.com As we reported, PEPE price has fallen since it reached $0.0000019 on May 5. The decline led to a low of $0.0000010 on May 12. This apparently caused a breakdown from the $0.0000013 support area. However, the price bounced right after and has now reclaimed the area that was supposed to provide support again. If an increase occurs here, PEPE could move to the next resistance area at $0.0000020. However, if it loses momentum, a drop to the $0.0000013 support area could occur again. PEPE has jumped 35 percent this week.
Lido Dao (LDO) failed to overcome resistance
LDO price, which has risen 30 percent this week, has been trading inside a descending wedge since the beginning of February. The descending wedge is considered a bullish pattern. That often leads to breakage. At the beginning of May (red circle), the LDO pattern bounced off the support line. This started an upward move that apparently caused a breakout on May 17. However, LDO price failed to rise above the resistance line of the wedge. Instead, it formed a long upper wick and fell. If the decline continues, LDO will slide back down to the $1.80 support zone. However, if a breakout occurs, an increase to $2.80 is likely.
What’s next for Mask Network (MASK)?
The price of MASK, which has increased by 30 percent this week, has risen since May 12. On May 17, it broke above a descending resistance line that has been in place since November 2022. Even though the price had climbed above this line earlier, it fell below the line at the beginning of May. Then, it hit a new high at $4.88 two days later. The high was slightly below the $5.05 horizontal resistance area. If MASK price rises above this area, it could rise to the next resistance at $6.80. However, if the rally reverses, a drop to the $3.80 resistance line is likely.
Conflux (CFX) rounds out the list of top rising altcoin projects
Finally, we look at CFX, which is up 24 percent this week. Conflux price has fallen since March 19. It broke out of the horizontal area of $0.32 on April 21. Then, it hit a low of $0.22 on May 12. Although it bounced later, it failed to reclaim the $0.32 area. Price retracement or rejection of this resistance area will likely set the future trend. If the price retraces, it could rally to the next resistance at $0.48. However, if it is rejected, a drop to the $0.14 horizontal support area is likely.