As the general negative trend continues in the cryptocurrency markets, some altcoins have started to rise. Four altcoins have been exceptions to this trend. These movements are mostly triggered by speculative traders taking advantage of the low volume in the market. So, according to the latest data, how long can the price increase continue?
At the time of writing, the price of LOOM Coin, which has increased by over 47%, has made it the most profitable altcoin on the Binance exchange. The rally that started on September 19 has led to a 162% increase so far. The price increase, which rose by more than 1.5 times a few days ago, has caused more investors to turn to LOOM Coin.
The popular altcoin has surpassed its all-time high level on the Binance exchange, and the upward trend may continue with closings above $0.077. However, the increasing RSI and inflated price suggest a potential pullback in this area. In the event of a possible decline scenario, we may see a retracement down to $0.062. In the opposite scenario, the psychological resistance area of $0.1 could be targeted.
In second place is Front Coin, which has seen an increase of nearly 170% in the past week. Today, it is the second-highest gainer on the Binance exchange in the last 24 hours. At the time of writing, the rally altcoin is at $0.384. If the price can close above this resistance level now, we can see the extension of the rally up to $0.62 and $0.84. Otherwise, a quick return to $0.31 and $0.23 would not be surprising.
The third altcoin that impresses with its rise is ARK Coin. The native coin of the blockchain data monitoring platform, despite a difficult start, has been showing a strong recovery for a while. If the bulls can hold $0.58, we can test $0.83. The next target will be the psychological resistance of $1.
In the opposite scenario, a drop to $0.47 may occur.
Although relatively weak compared to others, FLM Coin price is also catching attention with an increase of nearly 20%. The price, which tested $0.16 on September 5, returned to the $0.09 range. A similar movement also occurred on June 21. However, unlike the previous one, the FLM Coin price waited for a very short time to test the resistance area. If the $0.1 region can be held, we can see a strong rally up to $0.23.