As we approach the end of 2022, some altcoins are on the rise, defying the market dips. Here are the 5 best performing altcoins in the past week.
Toncoin (TON) is at the top of the list of best performing altcoins.
Toncoin (TON) has attracted attention with its performance in the past week. It has risen by about 41.2 percent in the last 7 days. Thus, it gained almost 2 times more value than even its closest competitor. TON price has been up since Oct 13, possibly with a five-wave upside move (black). If true, the price is in the third wave.
The lower wave number is given in white. This shows that the TON price is in its lower wave fourth. However, the most likely target for a local top is $3.43, which is signaled by the 2.61 external Fibonacci retracement of the second wave. A drop below the $1.99 first wave (red line) would invalidate this bullish hypothesis.
XDC Network (XDC)
XDC price has increased by about 12.69 percent in the past week. The altcoin has fallen below a descending resistance line since August 11. Also, the downside move was as low as $0.018 on Dec. Thus, the price has been moving upwards since then, approaching the descending resistance line. However, currently, the line overlaps with the $0.026 resistance area, increasing its importance. If XDC price fails to break through, it will plunge towards yearly lows at $0.018. However, it could accelerate the breakout rate towards $0.032.
OKB (OKB) ranks third in the list of best performing altcoins
OKB (OCD) price has experienced a rise of about 12.25 percent in the past week. OKB price has been moving upwards since June. After three failed attempts (red icons), it broke above the $22.50 resistance area on Dec. 13. It has been rising ever since and reached $24.60 on December 16. This is the highest price since March 2022. If the upside continues, the next resistance will be at $32.30. Conversely, a daily close below $22.50 indicates that the trend is bearish.
Bitcoin SV (BSV)
In the past week, the price of BSV has risen by about 11.55 percent. Also, BSV price has increased along with the ascending support line since November 9th. The upward move led to a high of $48 on December 12. BSV price then fell sharply but created a long lower wick that confirmed the ascending support line. However, it made another attempt to climb above the $48 resistance area on December 16.
Reaching a daily close above the $48 resistance area would be a decisive bullish sign, while a rejection could result in a drop towards the ascending support line at $43. BSV, as we have also reported as Kriptokoin.com, is one of the forks of Bitcoin that emerged after the Bitcoin Cash (BCH) hard fork in 2017.
Last on the list of top performing altcoins is Lido DAO (LDO)
The LDO price has increased by about 9.49 percent in the past week. However, the altcoin price has been moving upwards since November 9, when it confirmed the descending resistance line it had broken earlier. Also, the upward movement has been very gradual. LDO is stuck in a range between $0.93 and $1.28. A break above the top of the range could catalyze an upward move towards $1.80. However, a breakout could start a decline towards $0.40.