Last week, investors experienced a roller coaster ride. We witnessed prices rapidly rise and fall in a short period of time. The cryptocurrency market’s amusement park-like movements are an anomaly we are accustomed to. However, there were those who managed to stay at the top and defy the overall market. This allowed a small number of investors to have a happy week.
While the cryptocurrency market remained relatively stable over the weekend, some altcoins outperformed. BTC, on the other hand, ended the week near where it started, and the gains in between felt like a dream. The FET price has been rising along a support line since June 10. This line has been confirmed several times, most recently on August 17 and 22. The latest confirmation formed a higher low and accelerated the rate of increase. On September 2, the FET price climbed above the $0.25 horizontal resistance area.
It is expected that this region will be maintained as support, and the RSI supports the latest breakout. If the FET rally continues, the next target will likely be $0.34. However, closing below $0.25 could trigger a retreat back to the $0.2 region.
The price of XLM has been declining since July 13, following a descending resistance line. This decline continued until August 17, reaching $0.10. The price then rebounded, confirming the $0.110 horizontal support area and forming a long lower wick, which is considered a sign of buying pressure.
Two days after forming a higher low on September 2, XLM broke out of the resistance line. The line had been in place for 52 days, creating expectations of a significant rally upon its breakout. However, despite the breakout, the price is trading near $0.130. If BTC remains stable and the XLM Coin bulls regain control, we could see a 30% increase up to $0.16. Otherwise, the target is $0.11.
Since forming a higher low on August 7, the price of BLZ has been increasing. Initially, the price failed to break above the $0.125 horizontal resistance area. However, over the weekend, we saw the price surpass this region. If there are closings above it, it could jump to $0.22 with a 50% increase.