Altcoins: Top 5 Winners February 15-22

NPXS, HOT, and RVN altcoins posted parabolic increases.

The price of the KCS is approaching a zone of long-term resistance.

OKB appears to be in the middle of its bullish momentum

BeInCrypto takes a look at the biggest players in the altcoin industry from the past week. Will their momentum be sustained?

The price of Bitcoin Superstar has risen considerably since the start of the year, but its movement seems upward seems disproportionately large and may soon peak.

While the rise in the OKB also appears parabolic, the cryptocurrency appears to be at an earlier stage of its bullish momentum relative to the NPXS.

The KCS is still a long way from reaching its highest price to date, but it is approaching an important area of ​​long-term resistance.

As with the NPXS and the OKB, the increase for the HOT seems entirely parabolic

The NPXS has risen significantly since December 23, 2020 when it traded at a low of $ 0.0001546. So far, it has risen 1900%, hitting a record high of $ 0.0031 on February 22. This surge led the NPXS to the 86th largest cryptocurrency in terms of market capitalization.

Technical indicators are bullish. MACD, RSI and Stochastic Oscillator are on the rise. None of them generated a bearish divergence.

However, the upward movement has become entirely parabolic, and devoid of any structure. Additionally, the NPXS appears to be in the fifth and final wave of a bullish impulse (in black below) that started with the aforementioned low on December 23.

The NPXS is currently at the 1.61 fibonacci extension level located at $ 0.027, which could act as a cap. Otherwise, the other most plausible zone would be at $ 0.039 (fibonacci extension 2.61). The NPXS should therefore soon reach a ceiling and begin a corrective movement.

The OKB price has been rising since December 2018, but its rate of rise accelerated significantly on January 23, 2021. At that time, the OKB was trading at $ 5.13. Since then, the OKB has risen 370% to an all-time high of $ 23.80 on February 22. This increase pushed it up to 61st in terms of market capitalization.

Despite an almost parabolic rise, the MACD, RSI and Stochastic Oscillator are still on the rise, suggesting that the trend is also bullish.

Additionally, the 2020 move (underlined in red) looks a lot like a flat correction. Large upward movements often follow these corrections.

Despite the possibility of a short term decline, it seems likely that the OKB is in a third long term bullish wave. A possible target for the top of this wave can be found at $ 28.54.

Bitcoins Coinbase-præmie blev negativ. Her er hvad det betyder for BTC-prisen

Coinbase Pro er en stor bellwether til institutionel efterspørgsel. Nu viser data fra CryptoQuant, at kortvarigt salgstryk på Coinbase er ved at stige.

Bitcoins ( BTC ) endelige udbrud over $ 50.000 må muligvis vente længere på at realisere sig, da spotkøbstryk på Coinbase Pro viser tegn på svækkelse – i det mindste på kort sigt

Coinbase Premium Index, der måler afstanden mellem BTC-prisen på Coinbase Pro og Binance, er vendt negativ ifølge CryptoQuant. Med andre ord ser det ud til, at salgspres på Coinbase styrkes sammenlignet med andre børser som Binance.

En negativ aflæsning på Coinbase Premium Index kan være en forløber for kortvarig modstand. På den anden side, når præmien er høj, indikerer det et stærkt spotkøbstryk på Coinbase.

Baseret på indekset mener CryptoQuant CEO Ki Young Ju , at topping på $ 50.000 „ser ret hård ud“ på kort sigt.

”Den nuværende købekraft kommer ikke fra Coinbase,” tilføjede han . ”Ikke mere Coinbase-præmie sammenlignet med Binance / Huobi / OKEx. Vær forsigtig.“

Coinbase er blevet et stort klodset for Bitcoin-efterspørgsel på grund af dets popularitet blandt store institutionelle købere. Disse markedsdeltagere erhverver deres BTC via over-the-counter markeder på Coinbase Pro. Selvom disse store indkøb ikke straks påvirker BTC-prisen , betyder de en stigende efterspørgsel efter det digitale aktiv og til gengæld et fald i udbuddet. Coinbase Premium Index er derfor en måde at måle institutionel efterspørgsel efter BTC på kort sigt.

En kortsigtet udsving i Coinbase-præmien ser ikke ud til at have nogen indflydelse på Bitcoins langsigtede bane. Det digitale aktiv er fortsat i en stærk stigende tendens efter at have toppet et godt stykke nord for $ 49.700 søndag ifølge TradingView-data.

Bitcoin-prisen har fået hele 28% i løbet af den sidste uge takket være Teslas planlagte erhvervelse af aktivet. Baseret på el-køretøjsfabrikantens seneste 10K-arkivering til United States Securities and Exchange Commission planlægger den at afsætte cirka 7,7% af sin bruttopengeposition til Bitcoin .

Børsnoterede virksomheder og fondsforvaltere ejer ca. 6% af Bitcoins cirkulerende forsyning – et tal, der ikke inkluderer Teslas position på 1,5 mia. $.