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.