Theta Token (THETA), Horizen (ZEN), and Trust Wallet Token (TWT) managed to rally over the weekend despite a mixed performance from the rest of the cryptocurrency market.
The crypto market had a neutral performance last week. The week was characterized by short-term upward and downward movements, which mostly canceled each other out.
However, these three cryptocurrencies had positive performances, particularly evident over the weekend. Thus, they are being tagged as the crypto winners of the weekend.
Theta Token (THETA) Leads the Altcoin Winners of the Weekend
THETA price has been rising along with a rising support line since June 10th. During this time, it made several attempts to break out of the horizontal resistance area of $0.82. Price action creates an ascending triangle when combined with the ascending support line.
The ascending triangle is considered a bullish pattern, meaning it usually leads to breakouts. This is also consistent with the fact that the resistance weakens each time they are touched.
A breakout that crosses the entire height of the pattern will lead to a value near $1.20.
In turn, this bullish forecast will be invalidated by a break from the rising support line. In that case, THETA could fall to $0.70.
Horizen (ZEN) Clears Resistance – Acceleration Efforts
ZEN price has been increasing since June 10th. On June 30, the price broke out of a descending resistance line. It then returned to confirm the line as support ten days later (green icon). Since then the price has increased.
However, despite the rally, ZEN failed to move above the horizontal resistance area of $9.40 (red icon). Whether it will break out on it or be rejected can determine the direction of the future trend.
A successful breakout could lead to a rally near $13. On the other hand, a rejection is likely to lead to a retest of the descending resistance line.
Will the Trust Token Wallet (TWT) Price Explode?
The price of TWT has fallen below a bearish resistance line since January 29. The decline led to a low of $0.71 on June 10. While the price has increased since it has not exploded yet. However, TWT is currently making an attempt to break out. This is the fourth time TWT is trying to clear the resistance line.
If successful, TWT could rise to the next horizontal resistance at $1.10, following the lead of the rest of the weekend’s Altcoin winners. However, if the TWT is rejected, a drop to the annual low of $0.71 is on the cards.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
In accordance with Project Trust guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your research and consult a professional before making any financial decisions.
