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Top 5 Strongest Performers This Week - ENJ, CRV, MANA, HBAR, CELO - Where Are They All Headed Next?

3y ago
bullish:

22

bearish:

4

Bitcoin is down by a solid 15% this week as the cryptocurrency falls beneath the symmetrical triangle that it was consolidating within. Luckily, there is support at $30,000, which is the lower boundary of another consolidation pattern known as a descending triangle. 

Nevertheless, despite the Bitcoin price drop, a handful of cryptocurrencies have performed really well this week.

Today, we will look at the top 5 performing altcoins over the past 7-days. The five coins we will look at are ENJ (+119.67%), CRV (+82.84%), MANA (+66.65%), HBAR (+53.44%), and CELO (+39.59%).

1. Enjin Coin

Enjin coin saw an amazing 119.67% price increase this week, making it the top-performing asset over the past seven days of trading. The cryptocurrency was trading flat during November and December, and it started to increase at the start of January 2021. The cryptocurrency is actually up by a strong 216% over the past month.

ENJ started this week by pushing higher from the $0.2 level. From there, it started to surge upward, breaking past resistance at $0.3 and $0.4 to reach the resistance at $0.421 (1.618 Fib Extension). Although it did spike higher above there, it was unable to close a daily candle above the resistance, which led to it rolling over a few days ago.

It went on to find support at $0.332 (.382 Fib Retracement) and rebounded higher from there to hit $0.43 today.

Looking ahead, the first level of resistance lies at $0.45 (highest closing price). This is followed by resistance at $0.5 (short term 1.272 Fib Extension), $0.536 (ATH Price), $0.55 (.1272 Fib Extension), $0.6 (1.414 Fib Extension), and $0.669 (1.618 Fib Extension).

On the other side, the first level of support lies at $0.382 (.236 Fib Retracement). This is followed by $0.332 (.382 Fib Retracement), $0.291 (.5 Fib Retracement), and $0.25 (.618 Fib Retracement).

2. Curve DAO Token

CRV managed to increase by a total of 82.84% over the past week as the coin hit the $2.20 level today. The cryptocurrency started the week by pushing higher from the $1.12 level. It continued to increase over the week until resistance was hit today at $2.25, provided by a bearish .382 Fib Retracement.

Looking ahead, if the buyers break $2.25, the first level of resistance lies at $2.50. This is followed by resistance at $2.85 (bearish .5 Fib Retracement), $3.10 (1.414 Fib Extension), and $3.44 (bearish .618 Fib Retracement).

On the other side, the first level of support lies at $1.87 (.236 Fib Retracement). This is followed by support at $1.50, $1.35 (.5 Fib Retracement), $1.12 (.618 Fib Retracement), and $1.00.

3. Decentraland

MANA saw a strong 62% price hike this week as the coin reached as high as $0.21 today. The cryptocurrency had pushed higher from $0.11 at the start of the week, but the bulk of the price surge happened yesterday when it surged from $0.12 to reach the $0.16 level. Today, MANA continued higher to reach as high as $0.21 but has since dropped to $0.183.

Looking ahead, the first level of resistance lies at $0.187 (bearish .618 Fib Retracement). This is followed by resistance at $0.2, $0.22, and $0.235 (bearish .786 Fib Retracement). Additional resistance lies at $0.248 (1.272 Fib Extension), $0.264 (bearish .886 Fib Retracement), and $0.28.

On the other side, the first level of support lies at $0.172 (.236 Fib Retracement). This is followed by $0.16, $0.14, $0.133 (.5 Fib Retracement), and $0.116 (.618 Fib Retracement).

4. Hedera Hashgraph

HBAR managed to rise by a total of 53.44% this week as the cryptocurrency trades at $0.09. HBAR had surged further higher above this level earlier in the week to set a new ATH price at $0.127 but has since dropped lower. It started the week beneath the August 2020 highs at around $0.0625 and continued upward from there.

It quickly went on to break resistance at the previous ATH price at $0.0846 and surged to reach as high as $0.127. Unfortunately, it could not break a daily candle above the $0.1 level and started to reverse from there. It is now trading near the support at $0.09, provided by the .382 Fib Retracement.

Looking ahead, if the buyers push higher, the first level of resistance lies at $0.1. This is followed by resistance at $0.11, $0.12, and $0.127 (ATH price). Beyond the ATH, resistance lies at $0.14, $0.146 (1.272 Fib Extension), $0.15, $0.157 (1.414 Fib Extension), and $0.172 (1.618 Fib Extension).

On the other side, the first level of support lies at $0.09 (.382 Fib Retracement). This is followed by $0.085 (Previous ATH), $0.077 (.5 Fib Retracement), $0.07, and $0.066 (.618 Fib Retracement).

5. CELO

CELO is relatively new on the market but has managed to surge by 39.59% this week. The cryptocurrency only started to trade on the 6th of January, 2021, and it headed lower in the first few days of trading. 

It managed to find support at $1.80 on the 11th of January and continued to push higher from there. 

The bulk of the 39% price hike came yesterday when CELO pushed higher from $2.20 and started to surge. It quickly past resistance at $3.00 to reach as high as $3.85. However, it struggled to close a 4-hour candle above resistance at $3.30 and headed lower from there to trade at the current $2.85 support (.5 Fib).

Looking ahead, the first level of support lies at $2.80. This is followed by $2.65 (.618 Fib Retracement), $2.36 (.786 Fib Retracement), $2.20, and $2.00.

On the other side, resistance lies at $3.30, $3.40, $3.60, and $3.85. This is followed by $4.00, $4.33 (1.272 Fib Extension), $4.58 (1.414 Fib Extension), $4.80, and $4.95 (1.618 Fib Extension).

3y ago
bullish:

22

bearish:

4

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