3 Top Crypto Gainers: Drawing Attention With Superb Performance

The top crypto gainers of the week include crypto assets, gaining the most throughout the week. When writing, BinaryX (BNX), Quant (QNT), and Artificial Superintelligence Alliance (FET) stand tall as the top crypto gainers.

The above-mentioned coins have performed positively in a bearish cryptocurrency market week. Most of the altcoins are falling during the consolidation phase of leader cryptocurrencies. Yet, the top gainers have witnessed buying pressure. Let’s analyze why.

BinaryX (BNX): Leading the Top Crypto Gainers at Press Time

The BNX price has formed a strong bearish engulfing candlestick pattern at the major resistance level. It was already a selling zone, and a bearish candlestick could generate a bearish forecast.

After a breakout from the 200-day EMA, it seems that the BNX buyers lost their strength. The BNX price has failed to exceed the major resistance level of $1.60.

If the sellers get attracted by the bearish engulfing candlestick, the price may crash about 20%.

The bearish move might disturb near the 200-day EMA, and buyers may generate a pullback. If the digital asset price takes support on the 200-day EMA and rises, this fall may convert into a pullback.

Suppose the BinaryX price triggers a pullback, it may easily exceed the major resistance. Moreover, strong buying momentum can be anticipated if the price manages to surpass the resistance level. Thus, BNX may maintain its position among top crypto gainers in the upcoming weeks.

QNT Price has Formed a Double-bottom at Low

Quant crypto was trading at $76.33 and dropped by 1.74% over the past 24 hours. Its market capitalization was $921.38 Million, and its 24-hour trading volume was $17.21 Million, which has increased by 60%.

The QNT price has been in a bearish trend and declined by 50% for the past few months. However, the bearish trend has halted near the $55 mark and generated a double-bottom pattern. The QNT crypto price has risen by 35% in the past 5 days and smashed the 20-day EMA.

Trend reversal momentum can be possible if the crypto asset price surpasses the 200-day EMA. Suppose the trading volume supports this momentum, the QNT bulls may dominate for a long time.

Conversely, it could be a selling opportunity if the price doesn’t exceed the 200-day EMA and forms bearish candlesticks. The bearish scenario in this zone could be considered as a lower-low territory, and the price may melt to a multi-year low.

FET Price Has Performed Retest After the Breakout; What’s Next?

The technical chart suggests that the FET price has been declining through a descending channel. It has displayed a breakout from the channel and retested the descending trendline. After the retest, the price has risen by 30% and extended to the 200-day EMA.

Suppose the price surpasses the 200-day EMA, the FET buyers may show interest at the breakout and retest. The FET price has formed an inverted head and shoulder pattern at the bottom in the daily time frame. It reached the neckline at press time. Exceeding that mark may trigger intense buying pressure.

On the other hand, the bearish momentum near the 200-day EMA would trigger a bearish momentum. Most investors may prefer to book profit if the price loses the $1 psychological level, which is also a demand zone. The profit booking may result in a selling pressure.

What to Expect

BNX, QNT, and FET are the top crypto gainers of the week at press time. The Bitcoin price has undergone a correction phase for the past few months, but these tokens have reacted positively.

QNT and the FET prices have witnessed a reversal after the bearish trend. Still, the BNX price has been in a bullish trend and traded near the 52-week high.

The post 3 Top Crypto Gainers: Drawing Attention With Superb Performance appeared first on The Coin Republic.