Synthetix (SNX) is the best performing altcoin among the top 10. Zilliqa is preparing for a rally that could continue as critical resistance goes astray. THETA climbed above $ 1 ready for a short term correction.
We can say that the cryptocurrency table has become complicated lately. However, these three altcoins made double digits gains on Wednesday and showed an extraordinary bullish momentum.
Synthetix (SNX) burns by gaining more than 35% of daily earnings. SNX is the 33rd largest digital asset with a current market capitalization of $ 896 million. The token is growing strongly and has more than doubled in value since December 11. At the time of writing, SNX changes hands at $ 8.1, gaining 35% on a daily basis.
While the bullish momentum remains strong, the SNX could be vulnerable to the downside correction as the TD Sequential indicator is ready to send a sell signal on the 4-hour chart.
A green eight candlestick indicates that this token is overbought. If the signal is confirmed, the SNX could revert to channel resistance before $ 6.5 and potentially reappear $ 6, reinforced by the 4-hour EMA50.
Zilliqa reveals that it has bullish momentum despite bearish signals. At the time of writing, the token is trading at $ 0.058, earning about 18% on a daily basis and 60% on a weekly basis.
As FxStreet previously reported, a sustainable move above $ 0.04 improved the token’s long-term outlook. Further improvement could be limited by strong resistance to approaching the $ 0.06 psychological barrier. When out of the way, ZIL will enter the uncharted territory with a rally potential of 1000%.
Theta can no longer be stopped due to the disappearance of the $ 1. The digital asset managed to break above the psychological level of $ 1 in early Asian hours on Wednesday, pushing the recovery to $ 1.17. At the time of writing, THETA is trading at $ 1.15, earning over 13% on a daily basis and over 50% on a weekly basis.
Meanwhile, TD Sequential sends prudent signals. A green eight candlestick on the 4-hour chart indicates that the price may mature for a downside correction in the form of one to four green candlesticks. It also appears that the potential target is around $ 0.97 followed by $ 0.89.