Over the weekend, the crypto market saw significant surges, with three cryptocurrencies standing out for their impressive performance. Stratis (STRAX) achieved a new yearly high, Band Protocol (BAND) broke free from a long-term resistance trendline, and Bitcoin SV (BSV) is closing in on a key resistance level.
Stratis (STRAX): New Yearly High
Stratis (STRAX) has been on an upward trajectory since hitting a low of $0.38 in September. The recent two-week surge catapulted it to a new yearly high of $1.22. Notably, it broke above the $0.85 horizontal resistance area. Well-known trader Anbesa100 accurately predicted this breakout in mid-September. The surge was accompanied by a seven-month high in daily trading volume, now at $577 million, almost four times the market capitalization of Stratis.
STRAX/USDT Weekly Chart. Source: TradingView
If the bullish momentum continues, STRAX could rise by 27% to the next resistance at $1.40. However, a loss of momentum and the formation of a bearish candlestick could result in a 25% drop to the $0.85 support level.
Band Protocol (BAND): Overcoming Long-Term Resistance
BAND faced a descending resistance trendline since reaching its all-time high in April 2021, reaching a low of $0.85 in August. Last week, the price bounced back and broke free from the 910-day trendline. Among the top 160 cryptocurrencies by market capitalization, BAND recorded one of the most significant 24-hour gains.
BAND/USDT Weekly Chart. Source: TradingView
If the upward trend continues, BAND could surge by 130% to the $3.20 resistance area. However, failure to maintain the momentum might lead to a 25% drop, validating the descending resistance trendline at $1.15.
Bitcoin SV (BSV): Approaching Crucial Resistance
Bitcoin SV (BSV) has been following an ascending support trendline since June. The price bounced off this trendline on September 11 and October 9, gaining momentum on October 16. BSV is now nearing the $40 horizontal resistance area, established in July. This forms an ascending triangle when combined with the ascending support trendline.
BSV/USDT Daily Chart. Source: TradingView
A daily close above $40 could trigger a 50% rise to $55, projected by measuring the triangle’s height from the breakout point. However, a rejection at the $40 level could lead to an 11% decline to the ascending support trendline at $33.
These three cryptocurrencies have stood out with remarkable gains during the weekend, providing investors with promising opportunities for potential profits.
