3 top altcoins in the green for last seven days – $TON, $KAS, and $INJ

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As a crypto investor with several years of experience under my belt, I’ve seen my fair share of market ups and downs. And in the current market climate, it can be disheartening to see most altcoins recording losses, with Bitcoin leading the way. But despite the fear that’s gripping the market, there are a few altcoins that are bucking the trend.

As a crypto market analyst, I’ve observed that only a handful of altcoins have seen positive price movements over the past week based on the current rankings. Among these gainers are Toncoin ($TON), Kaspa ($KAS), and Injective Protocol ($INJ).

Bucking the fear trend

In today’s slumping cryptocurrency market, Bitcoin ($BTC) has taken a hit over the past week, with most alternative coins (altcoins) experiencing losses as well. The mood among investors has shifted dramatically to pessimism, reflected in the Fear and Greed Index, which now shows “Fear” (40), contrasting last week’s optimistic reading of “Greed” (60).

As a crypto investor, I’ve noticed some top-tier altcoins defying the bearish market trend recently. While it’s true that there are other altcoins showing gains over the past week, if we focus on coins with strong fundamentals, $TON, $KAS, and $INJ have stood out as exceptional performers during this seven-day period.

$TON gains 271% since February

Since February this year, Toncoin ($TON) has been a stellar performer with an impressive surge of over 271%. Consequently, new record highs have been set for $TON. The upward momentum remains unwavering, and $TON has adhered to this trend. Presently, the price hovers around a significant resistance at $7.73. If the price manages to surpass this level and stabilize, the subsequent objective would be the 1.618 Fibonacci level, which stands at approximately $9.60. In contrast, the 0.786 Fibonacci level offers a noteworthy support level if the price experiences rejection.

$KAS knocking at the top of the range

Since November 2023, Kaspa ($KAS) has been trading within a defined range with its peak not hit until February 19, 2024. Subsequently, the price has dipped back to the lower boundary of this range and is currently testing its resistance level once more. In case of another rejection from this resistance point, investors can look towards the 0.786 and 0.618 Fibonacci levels as potential support zones beneath.

If the price of $KAS definitively surpasses its current trading range, it could potentially reach the 1.618 Fibonacci level, which translates to approximately $0.24. This represents a potential upside gain of around 33% from the highest point within the range.

$INJ builds strong price structure

Starting from December 2023, Injective Protocol’s ($INJ) price surged to hit the upper boundary of its significant range, touching $45 multiple times before breaching it and reaching $53. Later, it retreated back into this range, touching its lower limit at $18 once more. More recently, the price has revisited this level again and is currently attempting to surmount the resistance at $24. Overcoming this hurdle would lead the way for a return to the center of the range and potentially a move into the upper part of it.

As a crypto investor holding $INJ, I understand that the sideways price action may be causing some frustration. However, I believe this is an opportunity to witness the building of a strong price structure. Once $INJ breaks free from this range, we can look forward to a potential target of $75.

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2024-06-27 16:12