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FxWirePro- Weekly Top altcoins pick (Strength index)(RUNEUSD and ZECUSD)
Top Altcoins Strength Index (4- hour chart calculated using EMA and Average directional index )
Trend and levels to watch Pair
|Pair||Short-term trend||Long term trend||Major resistance||Major Support|
THORChain trades higher for the third week and holds well above short term (21 and 55-W EMA).
It could gain momentum if it clears $8.
RUNEUSD was one of the best performers this month and surged nearly 100% as DeFi synthetic assets goes live. It allows users to swap one asset with other assets easily. Short term trend is bullish as long as support $5.85 holds.
Zcash is one of the digital coins with privacy features. The pair gained more than $60 on an inflow of more than $420 million last week. It hits a high of $166.45 and is currently trading around $139.92.
On the higher side, near-term resistance is around $168 (38.2% fib) and any breach above targets $195/$221. The immediate support is around $135, the breach below will drag the pair down to $125/$100.