BeInCrypto presents the five cryptocurrencies that advanced the most during the week of November 11 to 18 in the crypto market.
These cryptocurrencies are:
- Trust Award portfolio Signs (TWT) increased by 90.57%.
- The price of GMX (GMX) increased by 16.18%.
- The price of Toncoin (YOURS) increased by 9.70%.
- Price of Chiliz (CHZ) increased by 9.20%.
- The price of Lido DAO (LDO) increased by 6.32%.
TWT Price Leads Cryptocurrency Market Recovery
Trust Award portfolio The token had fallen below the descending resistance line since August 2021. After five failed attempts (red icon), TWT finally broke through and confirmed the line as support on November 9 (green icon).
TWT then began a significant rally and reached a new all-time high of $2.73 on November 14. However, it failed to sustain its upward movement and created a long upper wick. TWT tries to close above the outer Fibonacci retracement level of $1.61-2.41 (white).
If a move down occurs, there will be strong support at $1.87 and $1.52.
GMX requires its support
GMX price has been trending higher since November 9th. The move into the green led to a high of $48 on November 13. However, GMX was rejected by the $45 resistance area and failed to make a bullish breakout. Shortly thereafter, it fell below a rising support line and proved it as resistance (red icon).
If the bearish move continues, the key support zone lies between $34 and $36.67, created by the 0.5-0.618 Fibonacci support level.
GMX needs to regain the $45 area for the trend to reverse and turn bullish.
TON price rebounds and makes a bullish burst
TON has risen since a very long lower wick was formed on November 10 (green icon). On November 10, it bounced off the $1.43 horizontal support area and created a bullish engulfing candle the next day.
TON price crossed the descending resistance line on November 16. However, it has been declining over the past 24 hours, which may prove the resistance line as support.
If the upward move continues, the nearest resistance area is $1.92.
Conversely, a break below the bearish resistance line would invalidate this bullish scenario.
The CHZ price continues its upward movement
CHZ price made a five-wave bullish move between June 15 and September 24. Next, a flat and irregular corrective structure (red) appears to have been completed.
The correction was combined with a bullish divergence from the daily RSI (green line), supporting the continuation of the rally.
If the count is correct, the CHZ price will reach the $0.28 area and experience a successful breakout.
Conversely, a break below the $0.14 Wave C low (red line) would invalidate this bullish CHZ price forecast.
LDO recovers after a sharp drop
The price of LDO began a sharp decline on November 8 and reached a low of 0.87 the day after. The resulting bounce (green circle) proved the $0.92 area as support.
Currently, LDO is trying to break the $1.28 resistance zone.
If the LDO price manages to regain the $1.28 area, it could rise towards the next resistance at $1.80. Otherwise, a retest of the $0.92 area would be expected.
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