Altcoins Regain Momentum As RUNE And STX Price Surge! What’s Next?

The post Altcoins Regain Momentum As RUNE And STX Price Surge! What’s Next? appeared first on Coinpedia Fintech News

After displaying a negative trend for three consecutive days, the crypto market has recorded a massive bounce back in valuation with top altcoins experiencing a significant bullish reversal in the chart.

With the Altcoins leader, Ethereum, has recorded a jump of over 10% in value, top tokens have followed in the footsteps and displayed a similar trend in their respective charts.

THORChain (RUNE) Price Analysis:

The RUNE price traded in a closed range between $4.897 and $6.252 for a brief period, during which the altcoin made multiple attempts to break out of the resistance level. As the market volatility grew, the THORChain token added 55.25% within two days, following which the price traded sideways.

After this, the bulls jumped 55.58% over the next four days, following which the price displayed a sideways trend for a period. The token was then trading under a bearish influence for a while. After testing its low of $7.087, the bulls recently regained momentum and displayed a bullish move.

The Moving Average Convergence Divergence (MACD) displays a rising green histogram, indicating an increase in the buying pressure within the crypto space. On the other hand, the averages show a significant rise in the chart, suggesting the price will continue gaining value in the coming time.

If the market holds the price above the resistance level of $8.957, the bulls will regain momentum and prepare to test its upper resistance level of $10.057. Further, if the bulls hold the price at that level, the Stacks token will prepare to test its resistance level of $11.278 over the coming weekend.

Stacks (STX) Price Analysis:

The STX price displayed a neutral trend for a while, following which the bulls regained momentum and recorded a jump of approximately 31%. The Stacks token then traded in a closed range between $2.817 and $3.121 for a brief period, during which the altcoin displayed significant fluctuation.

Following this, the bulls lost momentum, resulting in the Stacks price testing its low of $2.617. After trading sideways for a while, the bulls regained momentum and recorded a jump of 26.77% before facing rejection at the resistance level of $3.40.

The technical indicator, MACD, shows a constant green histogram, highlighting a robust bullish sentiment in the cryptocurrency market. Further, the averages display a rising pattern, indicating a positive price action for the STX price in the coming time.

If bulls regain power and push the price above the resistance level of $3.40, the Stacks price will prepare to test its upper resistance level of $3.80 over the upcoming weekend. Negatively, a bearish trend reversal may pull the price toward its low of $2.817 this month.