Performance of Three Altcoins (CRV, APT, and LINK) Over the Weekend Amid Negative Cryptocurrency Market News
Date: 2023-09-25 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
The cryptocurrency market is always subject to fluctuations, and negative news often triggers panic among investors. However, the weekend brought pleasant surprises for three altcoins - CurveDAO (CRV), Aptos (APT), and Chainlink (LINK), which demonstrated resilience to market fluctuations and ended the week in the "green zone."
CurveDAO (CRV): Emerging from a Steep Correction
The first altcoin that caught investors' attention is CurveDAO (CRV). It has repeatedly surprised with its ability to recover after significant corrections. Starting from February 21st, CRV moved along a descending resistance line, and in mid-September, its price hit a low of $0.38 due to the latest deviation from this line.
However, after that, CRV showed an impressive rise. Currently, the asset is attempting to break through a significant horizontal area at $0.50. It's worth noting that despite this growth, there is a risk that the price may retrace and reach the horizontal support area at $0.30.
For investors watching CRV, a key moment will be a sustained move above the $0.50 mark. Only this event can confirm a trend reversal. Further price growth could lead to testing the next resistance level at $0.85.
Chainlink (LINK): Overcoming Resistance
The second altcoin that performed well over the weekend is Chainlink (LINK). Starting from the low of $5.60 set on August 17th, LINK's price began an active upward movement. After a consolidation period, it set a higher low and accelerated its growth.
Particular attention should be paid to the event that occurred on September 19th when Chainlink successfully broke above a descending resistance line that had been in place since July 20th. This event signifies the end of the previous correction and may push the price of LINK further upward.
Aptos (APT): Continuing Trading
Despite the success of CRV and LINK, Aptos (APT) has not achieved the same level of success yet. APT continues to trade below the intersection of horizontal and diagonal resistance levels. This may be due to the overall negative sentiment in the market or specific characteristics of this particular asset.
However, it is important for investors to keep an eye on the dynamics of APT as cryptocurrencies are known for their volatility, and the situation can change at any moment.
