These 3 Altcoins Posted Significant Increases During the Weekend

2023-7-24 11:45

Theta Token (THETA), Horizen (ZEN), and Trust Wallet Token (TWT) managed to increase during the weekend despite a mixed performance from the rest of the cryptocurrency market.

The crypto market had a neutral performance last week. The week was characterized by short-term upward and downward movements, which mostly canceled each other out.

However, these three cryptocurrencies had positive performances, especially notable during the weekend. Thus, they are being labeled as the weekend’s crypto gainers.

Theta Token (THETA) Leads Weekend Altcoin Gainers

The THETA price has increased alongside an ascending support line since June 10. During this time, it made several attempts at breaking out from the $0.82 horizontal resistance area. The price action creates an ascending triangle when combined with the ascending support line.

The ascending triangle is considered a bullish pattern, meaning it usually leads to breakouts. This also aligns with the fact that resistances weaken each time they are touched.

A breakout that travels the entire pattern’s height will lead to a high near $1.20.

THETA/USDT Daily Chart. Source: TradingView

On the other hand, this bullish forecast will be invalidated by a breakdown from the ascending support line. In that case, THETA could fall to $0.70.

Read More: 9 Best AI Crypto Trading Bots to Maximize Your Profits

Horizen (ZEN) Clears Resistance – Struggles to Accelerate

The ZEN price has increased since June 10. On June 30, the price broke out from a descending resistance line. Then, it returned to validate the line as support ten days later (green icon). The price has increased since.

However, despite the increase, ZEN failed to move above the $9.40 horizontal resistance area (red icons). Whether it breaks out above it or gets rejected could determine the future trend’s direction.

ZEN/USDT Daily Chart. Source: TradingView

A successful breakout can lead to highs near $13. On the other hand, a rejection will likely lead to a retest of the descending resistance line.

Will Trust Wallet Token (TWT) Price Break Out?

The TWT price has fallen under a descending resistance line since Jan 29. The decrease led to a low of $0.71 on June 10. While the price has increased since it has not broken out yet. However, TWT is currently making an attempt at breaking out. This is the fourth time TWT is trying to clear the resistance line.

TWT/USDT Daily Chart. Source: TradingView

If it is successful, TWT could increase to the next horizontal resistance at $1.10, following the lead of the rest of the Altcoin weekend gainers. However, if TWT gets rejected, a decrease to the yearly low of $0.71 will be on the cards.

Read More: Top 11 Crypto Communities To Join in 2023

For BeInCrypto’s latest crypto market analysis, click here.

The post These 3 Altcoins Posted Significant Increases During the Weekend appeared first on BeInCrypto.

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Источник: beincrypto.com

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