Today, we will look at the top 4 performing altcoins. The four coins we will look at today are LRC (+13.4%), ONT (+12.5%), ZRX (+9.6%) and NEO (+8.2%).
LRC surged by a total of 13.4% today as it reached the $0.25 level. The cryptocurrency had actually managed to spike as high as $0.306 during the week but has, so far, struggled to close a 4HR candle above the $0.2644 level.
The cryptocurrency has exploded today after Coinbase announced that they would be adding Loopring to their Coinbase Pro platform – granting Loopring the benefit of the Coinbase effect as it surged higher.
The coin was trading within an ascending price channel since the March 2020 price drop. It managed to break toward the upside of this price channel in August as the coin went on to reach as high as $0.24 (1.414 Fib Extension level).
In September, Loopring spiked even higher to reach $0.26 but then came crashing down after Bitcoin dropped from the $12,000 level to $10,000. During the price decline, Loopring found support at the $0.16 level and managed to rebound from here.
Today, we can see that LRC hit the resistance at the $0.264 level (1.618 FIb Extension). It must break above this resistance if we expect the coin to continue higher.
Loopring is most certainly bullish right now and would need to fall beneath $0.14 before we would consider a bearish market.
If the sellers do push lower, the first level of support lies at $0.24. Beneath this, support lies at $0.22, $0.209 (.236 Fib Retracement), $0.20, and $0.175 (.382 Fib Retracement). Added support is expected at $0.16, $0.146 (.5 Fib Retracement), and $0.14.
On the other side, the first level of resistance to break lies at $0.264 (1.618 Fib Extension). Above this, resistance is located at $0.28 and $0.3. If the buyers manage to push higher above $0.306 (1.272 Fib Extension), resistance then lies at $0.326 (1.414 Fib Extension), $0.34, and $0.355 (1.618 Fib Extension).
ONT managed to climb by a total of 12.5% today as the coin reached the $0.793 level. The coin has been positively trending above a rising trend line ever since it crashed as low as $0.3 during the COVID driven March 2019 price collapse.
From there, it started to rise until it hit resistance at a bearish .786 Fib Retracement around $0.914 in August. ONT did spike higher above here but was never apple to close a daily candle above the level.
From there, ONT rolled over and started to head lower during the September price drop. It collapsed beneath the aforementioned rising trend line and continued to drop until support was found at the .5 Fib Retracement level at $0.6.
The coin has since bounced higher from this resistance as it hit the $0.80 level today.
ONT is considered to be neutral right now and would have to break above $0.914 to turn bullish again. It would need to fall beneath $0.6 to be in danger of turning bearish.
If the sellers do push lower, the first level of support lies at $0.75. This is followed by support at $0.70 (.382 Fib Retracement), $0.6 (.5 Fib Retracement), $0.55, and $0.512 (.618 Fib Retracement).
On the other side, resistance is located at $0.85, $0.914 (beraish .786 Fib Retracement), $0.972, and $1.00 (bearish .886 Fib Retracement). Beyond $1.00, resistance is located at $1.05, $1.10, $1.14 (1.272 Fib Extension), and $1.18.
ZRX increased by 9.6% as it hits the $0.498 level today. The coin had surged into resistance at around $0.75 earlier in August which was provided by a bearish .618 Fib Retracement level. The buyers were unable to close the daily candle above this resistance as the market rolled over and started to head lower.
During September, we can see that 0x ended up finding support at the .618 Fib Retracement at around $0.432. This support was further bolstered by the rising trend line that has been in play since March 2020. The bulls held this level of support for a total of a week and ended up rebounding over the past couple of days to reach $0.5.
0x is neutral and would need to break above $0.7 to turn bullish again. On the other side, a break beneath $0.4 is likely to turn 0x bearish in the short term.
If the sellers do push lower, the first level of support lies at $0.45 (100-day EMA). Beneath this, support lies at $0.432 (.618 Fib Retracement), $0.4, $0.35, and $0.30.
On the other side, the first level of resistance lies at $0.532 (bearish .236 Fib Retracement), $0.55, $0.6, and $0.613 (beraish .382 Fib Retracement).
Neo managed to increase by 8.2% as it hits $19.12 today. The cryptocurrency had been surging in August to reach as high as $21.15 (1.414 Fib Extension). More specifically, the cryptocurrency was never able to close a daily candle above the $21.76 level as the sellers caused it to roll over from here.
During the first week of September, we can see that NEO dropped as low as $16.90. The buyers managed to defend this level of support over the past 5-days and eventually initiated a rebound higher from there to reach $19.12 today.
NEO can actually still be considered as bullish right now. However, it would need to continue above $22 for the bull run to continue further.
If the sellers do step in, the first level of support lies at $18. This is followed by support at $16.90, $16.25 (.5 Fib Retracement), $15.50, and $14.60 (.618 Fib Retracement).
On the other side, resistance is expected at $20, $21.76 (1.272 Fib Extension), $23.15 (1.414 Fib Extension), $24, and $25.15 (1.618 Fib Extension).
Added resistance then lies at $26.90, $28, $28.60, and $30.