BeInCrypto takes a look at five projects that gained the most from the entire crypto market last week, specifically from November 18th to November 25th
These digital assets have taken the spotlight on the crypto news and crypto market:
- Curve DAO Token (CRV) price is up 21.70%
- Dash (DASH) price is up 21.39%
- Litecoin (LTC) price is up 20.84%
- Huobi Token (HT) price is up 20.77%
- Bitcoin Cash (BCH) price is up 10.77%
CRV price leads to rise in crypto market
The CRV price had fallen since it was rejected by a resistance line on November 4. The decline led to a low of $0.40 on November 22. Apparently this caused a break from the $0.56 horizontal support area.
However, the CRV price reversed the trend shortly after, creating a significant bullish candlestick in the process. The bounce was preceded by bullish divergence in the RSI (green line) and caused a retracement of the $0.56 horizontal area, which is now expected to provide support.
On November 22, there was an increasing number short bets on the CRV, so it is possible that the entire bounce occurred as a result of a short squeeze.
As a result, the trend can be considered bullish as long as CRV trades above the horizontal support area of $0.56. A breakout from the descending resistance line is likely to accelerate the rate of increase.
Conversely, a close below the horizontal area will indicate that lower prices are expected.
Dash takes back crucial territory
Dash is one of the oldest altcoins in the crypto market. After breaking down from the $39.50 support area, it gradually regained its footing and started an upward movement on November 22. It reclaimed the $39.50 area the next day. Now the area is expected to provide support.
The divergence below that and subsequent recovery is a strong sign of a bullish trend. If DASH breaks out of its descending resistance line, the rate of increase could accelerate sharply.
Litecoin price breaks out of long-term pattern
The Litecoin price had been trading in an ascending parallel channel since June 13. Such channels usually contain corrective movements, which means that a possible breakdown from it can be expected.
However, LTC bounced sharply on November 9 and began an upward movement instead. On November 23, it broke out from both the $73 resistance area and the channel resistance line. This is a sign that the trend is bullish.
If the upward movement continues, the next resistance will be at $100.
Conversely, a daily close below the $73 area would invalidate this bullish Litecoin price prediction.
HT attempt at outbreak Despite bearishness in the crypto market
The HT price has been trading in a range between $4.30 and $5.65 since late June. Initially, HT price broke out from the latter and reached a high of $9.56 on October 26.
However, the upward movement could not be sustained and the HT price fell within the trading range during the following weeks.
The HT price is currently trading at a decisive level. Regaining the $5.65 area is likely to increase to $8.20. On the other hand, failure to do so could lead to a retest of the $4.30 support area.
BCH rebounds after new annual low
The BCH price was rejected by a descending resistance line on November 5 (red icon). It fell to a new annual low of $87 four days later.
However, the BCH price has moved upwards since and is making another attempt to break out of the line. Since the line also coincides with the 0.382 Fib retracement resistance level, a break above it is likely to accelerate the rate of increase.
If that happens, the BCH price could rise to $157.
On the other hand, a rejection of the line and a drop from the $106 support area would be bearish.
For BeInCrypto’s latest crypto market analysis, click here.
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