Bitcoin remains beneath $60,000 this week. However, Ethereum has been the main driving force behind an altcoin boom. Over the past month, Etheruem managed to surge by a whopping 99% to climb above $4,000 today finally. This has helped a large number of altcoins to start seeing some huge price hikes over the past few days.Today, we released the top altcoins to watch for the week. These included Stacks (STX), Swipe (SXP), and PlotX (PLOT):To find out why we picked these projects in a little more detail, look at the article.In this analysis, I would like to cover these three coins to help provide some support and resistance you might expect to move forward.
Stacks (STX) Price Analysis
What has been going on?Stacks might have been stagnant over the past month after moving by a small 2%. However, the coin is shaping up for a substantial price hike ahead. The cryptocurrency started to explode at the start of April to reach an ATH price of around $2.85. It dropped lower from there but quickly rebounded again to meet resistance at $2.70.Unfortunately, STX has been in an extended downtrend from there ever since. It is trading inside a symmetrical triangle pattern. It is quickly approaching the apex of this triangle as it currently finds support at the lower boundary (and the 50-days EMA) at around $1.80.A breakout toward the upside of this triangle would help STX kickstart a new bull run back toward the previous ATH prices.STX price short term prediction: NeutralSTX is considered to be neutral right now as it sits inside the symmetrical triangle pattern. It would need to break back above $2.70 to turn bullish in the short term. On the other side, STX would have to drop beneath the lower boundary of the triangle and fall beneath $1.48 (.786 Fib Retracement & 100-days EMA) to turn bearish.If the sellers do break the lower boundary of the triangle and the support at $1.77 (.618 Fib Retracement), the first level of support lies at $1.60. This is followed by $1.47 (.786 Fib Retracement & 100-days EMA), and $1.20.Where is the resistance toward the upside?On the other side, the first resistance lies at the upper boundary of the price channel, at around $2.00. Above this, resistance lies at $2.20, $2.40, $2.50, and $2.70 (April High-day close).Additional resistance is then found at $2.85 (ATH), $3.00, $3.20, $3.31 (1.272 Fib Extension), $3.56 (1.414 Fib Extension), $3.80, and $3.91 (1.618 Fib Extension).
Swipe (SXP) Price Analysis
What has been going on?SXP is up by a small 10.2% over the past month of trading as the cryptocurrency currently sits at around $4.97. The coin surged higher from $3.00 toward the end of April and pushed above $5.50 in May to set a new ATH price at $5.87. More specifically, SXP was never able to close a daily candle above the resistance at $5.50.From there, SXP dropped lower until support was found at $4.65, provided by a .382 Fib Retracement level. It is now battling to get back above the $5.00 level to make another attempt at the ATH price.SXP is currently ranked in the 150th position as it holds a $451 million market cap value.SXP price short term prediction: BullishAfter setting a new ATH, SXP is currently bullish. It would need to break $5.50 soon for the bull run to continue. A drop beneath $4.00 will turn the market neutral, with a further drop beneath $3.50 (100-days EMA), putting it in danger of turning bearish.If the sellers push lower, the first support lies at $4.65 (.382 Fib Retracement). This is followed by $4.27 (.5 Fib Retracement), $4.00, $3.90 (.618 )Fib Retracement, $3.50 (100-days EMA), and $3.00.Where is the resistance toward the upside?On the other side, the first resistance lies at $5.50. This is then followed by the ATH price at $5.87 and $6.00.Beyond $6.00, resitance lies at $6.50, $6.76 (1.272 Fib Extension), $7.00, $7.22 (1.414 Fib Extension), $7.50, and $7.81 (1.618 Fib Extension).
PlotX (PLOT) Price Analysis
What has been going on?PLOT has seen a strong performance this week in which the coin managed to rise by a total of 35.65%. The cryptocurrency had set an ATH price in March at $0.39 and headed lower from there until support was found at $0.17 (.618 Fib Retracement).The market returned to this support at the end of April as it was trading inside a symmetrical triangle pattern. Over this weekend, PLOT rebounded from the lower boundary of this triangle and surged higher into the upper boundary.PLOT price short term prediction: NeutralPLOT is neutral until it can break $0.3 and break above the upper boundary of the current triangle. It would need to fall beneath the April support at $0.17 to turn bearish.If the sellers push lower, the first support lies at $0.25. This is followed by $0.23,$0.2 (lower boundary of the triangle), and $0.174 (.618 Fib Retracement).Where is the resistance toward the upside?On the other side, if the bulls can break $0.3, the first resistance lies at $0.322 (bearish .786 Fib Retracement). This is followed by $0.368 (April high), $0.39 (ATH), and $0.45.Added resistance lies at $0.478 (1.272 Fib Extension), $0.5, $0.522 (1.414 Fib Extension), and $0.58 (1.618 Fib Extension).