BeInCrypto takes a look at five projects that beat the crypto market last week, more specifically, from Oct. 7 to Oct. 14.
These digital assets have taken the crypto news and crypto market spotlight:
- Huobi Token (HT) price is up 87.30%
- Quant (QNT) price is up 22.56%
- Ethereum Name Service (ENS) price is up19.39%
- OKB (OKB) price is up 11.70%
- Terra (LUNA) price is up 9.07%
Huobi Token price reaches crucial resistance
Huobi Token price began a massive upward movement on Oct. 19, and increased by 85% in a span of only five days. This led to a high of $8.20.
However, the price of Huobi Token was rejected by the $8.10 horizontal resistance area and created a long upper wick.
The $8.10 area had previously acted as support since Nov. 2021. Therefore, it is considered a crucial level. Until HT price manages to break out above it, the trend cannot be considered bullish. A movement above this area could greatly accelerate the rate of increase.
Huobi Token Price Chart. Source: TradingView
Quant price reclaims vital $145 level
On June 19, the QNT price broke out from a descending resistance line. Previously, the line had been in place since the all-time high. Breakouts from such long-term structures usually precede a significant upward movement.
On Oct. 14, the price of Quant reached a new yearly high of $176.30. The high was made above the $145 horizontal area and just below the 0.382 Fib retracement (white) resistance level at $190.
Now, the $145 area is expected to provide support while the $190 area is likely to act as resistance.
Ethereum Name Service price attempts breakout above $20
The wave count suggests that the ENS price began a five-wave upward movement on June 14. On Oct. 4, the price of Ethereum Name Service broke out from a symmetrical triangle, hereby confirming that wave four had come to an end.
Therefore, the ongoing increase is part of wave five. Currently, ENS price is trading inside a confluence of Fib resistance levels, created by the 0.618 Fib retracement resistance (white) and the 0.618 length of waves one and three (black).
If ENS price is successful in moving above it, the next resistance would be between $23.40 and $24.50.
OKB price struggles with resistance
OKB price has been increasing inside an ascending parallel channel since Sept. 7. Such channels usually contain corrective movements. OKB price initiated an upward movement after bouncing at the support line of the channel on Oct. 10. It is currently attempting to move above its midline.
The resistance line of the channel is at $19.32. It also coincides with the 0.618 Fib retracement resistance level. As a result, it would be likely for the price to get rejected once it gets there.
Terra LUNA price could soon break down
Similarly to OKB price, LUNA price has been trading inside an ascending parallel channel since Sept. 27. It made an attempt at breaking out from it on Oct. 12, but it was unsuccessful at doing so.
Now, Terra LUNA price is in the process of falling below the middle of the channel. As a result, an eventual breakdown is likely.
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