During the week of 1 – 8 March, the biggest altcoin gains are as follows:
- Enjin Coin (ENJ) – 183%
- Chiliz (CHZ) – 175%
- Decentralized (MANA) – 79%
- Ocean Protocol (Ocean) – 59%
- Bancor (BNT) – 58%
Biggest altcoins with the most profits
ENJ reached its all-time high price on March 8, but is approaching the potential peak of the upward movement.
CHZ also reached an all-time high on March 8 and is rising parabolically. However, the indicators and Fib levels show that another potential increase is possible before a final correction.
MANA is also one of the altcoins that reached an all-time high today and is approaching the first resistance zone at $ 0.49.
OCEAN hit an all-time high price on March 7, but saw a long wick and a few drop divergences.
BNT also reached its all-time high price yesterday on March 7, creating a significant downward difference.
Enjin Coin (ENJ)
ENJ has been rising rapidly since it confirmed its all-time high on February 23rd. Currently, 400% above the price of the day.
It reached an all-time high of $ 1.88 on March 8th.
However, the rally became completely parabolic, and ENJ almost reached the 4.618 external Fib retracement rate of the most recent drop. In price discovery, this is often an ultimate potential area of resistance.
Therefore, despite being the most valued in these top five altcoins, ENJ is likely to approach the top of the parabolic upward move.
Similarly, CHZ has been rising rapidly since February 23 and reached an all-time high on March 8.
However, technical indicators are still on the rise, as evidenced by the invalidation of the potential bearish divergence in the weekly RSI and the increased MACD.
If CHZ continues to rise, the next closest resistance area will be found at $ 0.192 and $ 0.236 from now on.
MANA has also been rising since 23 February.
After leaving a falling resistance line, MANA retraced its previous breakout level at $ 0.35.
Two days later, MANA returned to confirm this level as support and has been increasing ever since. It reached an all-time high of $ 0.48 on March 8th.
Technical indicators are on the rise, so MANA will likely continue to rise. The bullish trend is in the position confirming this in the Stochastic oscillator.
MANA almost reached the nearest resistance area at $ 0.49 and the next resistance was found at $ 0.68.
Ocean Protocol (OCEAN)
The OCEAN uptrend has been ongoing since Feb.28 and reached its all-time high of $ 1.69 on March 7.
But the move left a long upper wick behind as a sign of selling pressure. This is further accentuated by the bearish trend in both the RSI and the MACD.
Therefore, OCEAN is likely to once again test the $ 1.30 level before potentially rising.
BNT has also been increasing since February 28th. Since then the price has risen 90%.
On March 7, it reached an all-time high price of $ 8.89.
Similar to OCEAN, technical indicators show weakness, as evident from the bearish difference in both the RSI and the MACD. BNT also reached a 1.61 external fib retracement at $ 8.26, which will likely result in a rejection.
The next closest resistance area can be found at $ 10.67.