Brokers.markets looks at five altcoins that increased the most from the entire crypto market last week, specifically from Dec. 23 – 30. These digital assets have taken the crypto news and crypto market spotlight:
- BitDAO (BIT) price has increased by 17.17%
- OKB (OKB) price has increased by 13.75%
- Internet Computer (ICP) price has increased by 8.89%
- Terra Classic (LUNC) price has increased by 6.67%
- Lida DAO (LDO) price has increased by 6.64%
BIT is The Biggest Altcoin Gainer
The BIT price had decreased below a descending resistance line since Aug. 5. The downward movement led to a low of $0.26 on Nov. 28. After some consolidation, the BIT price broke out from the line on Dec. 29 and reached a high of $0.38 the next day. After a slight drop, it is currently in the process of reclaiming the $0.33 horizontal resistance area. If it is successful in doing so, it could increase to the next resistance at $0.45. On the other hand, failure to do so could send the BIT price back toward a new yearly low.
OKB Successfully Breaks Above Key Resistance Level
The OKB price has been on an upward trajectory since June 2022. Initially, it faced resistance at the $22.50 level, making three unsuccessful attempts to break through (indicated by the red icon). However, the OKB price finally moved above this resistance on December 22 and has since seen an acceleration in its rate of increase. If this upward momentum continues, the next closest resistance level would be at $32.50. On the other hand, if the OKB price experiences a daily close below the $22.50 area, it could signal the end of the upward movement.
“ICP Breaks Out Above Resistance Line”:
The ICP price had been falling below a descending resistance line since July 31, reaching a low of $3.35 on December 19. However, it bounced back and broke out above the line on December 23. While this is a positive development, the ICP price still faces crucial resistance at $5, and the trend cannot be considered bullish until it reclaims this level. If it fails to do so, it could result in a new all-time low for the altcoin.
“LUNC Fails to Move Above Resistance”:
The LUNC price saw an upward movement on December 16, reaching a high of $0.00018 on December 27. However, it was unable to break through the $0.000185 resistance area and was rejected instead. The LUNC price is now close to the $0.000135 support area, and a breakdown below it could result in a new all-time low. On the other hand, a breakout above the $0.000185 resistance area would indicate a bullish trend.
“LDO Altcoin Could Break Below Support”:
The LDO price broke out above a descending resistance line on October 17, but the upward movement was not sustained and the price fell shortly thereafter, validating the line as support on November 9. Currently, the LDO price is at risk of breaking down below the $0.92 horizontal support area, which could lead to lows near $0.63. A bounce, on the other hand, could result in an upward movement towards the $1.25 resistance area.
