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Top Crypto Gainers Of 6th August: BAND, REN, BNT, What’s the Next Surge?

Highlights

    BAND breaks major resistance at $5.2 to touch $7.5

    Bancor Network Gains 23% In A Day, as more gains seems possible

    RSI broke through the 70.0 level as REN builds support at $0.22

The crypto markets today continue its gains as both bitcoin and many altcoins record evident profits. While bitcoin struggles to overcome a barrier close to its recent apex at $12,000 the top cryptocurrency has gained around 3.5% to surpass the $11,600 price tag.

As bitcoin begins its gaining spree, however, both Bancor and REN seem to compete for a top gainer position.

#1. Band Protocol (BAND 32.60% Gain): 

The first runner up gainer today is BAND, having gained roughly 33% in the 24 hours time frame.

With 86% market positiveness, BAND gets wide bullish signals and may skyrocket as a result.

BAND is less than a year old but has gained impressively in all remaining timeframes. Within last month, the coin is up 400% and roughly 40% in the last week.

BAND has smashed the major resistance at the $5.0 level and has set additional support at $5.2. In the event that a price dip occurs, the next level of minor support lies at $5.2. Although an upside movement is most likely from here, additional resistance lies up the chart at $5.4.

Technical Indicators

  • Next major resistance at $5.2
  • Next major support level at $5.0
  • Resistance Strength Index breaks 70.0 overbought condition
  • Bullish ride trends on top of Bollinger indicator.

BAND is now changing hands at $7.53 and its markets are measured at $111 million.

#2. Bancor Network Token (BNT 23% Gain):

BNT takes the runner up the position today with an impressive 23% surge. The coin began a 24-hour journey from the $2.15 area and topped at 2.65 while further upside seems possible in the short term.

BNT’s recent surge began way back into the second quarter of 2020, in April when Bancor Network released a version 2 platform and also integrated with Chainlink Oracle smart contracts solution.

Technical Pointers

Apparrently, BNT tokens overcame major resistance at the $2.30 level and created strong support when the price bounced off during a retest.

From here, the price is heading for a bullish ride towards $2.5 where the next resistance lies.

* Major point of resistance broken at $2.3

* Next major resistance exist at $2.5

* Immediate Support at $2.3

* RSI is horizontal at 30.0 oversold condition.

#3. REN (REN 12.68% Gain):

REN makes the list for the first time in about a month. The top crypto gained around 13% since yesterday. 

REN is seen to have made impressive gains as a continuation of gains accrued within the last 7 days. REN gained around 32% in the last 30 days and also 41% profit in the last seven days. 

Technical Points

REN price overcame resistance at $0.23 level when the Resistance strength index (RSI) broke through the 70.0 RSI level. 

Prices may plunge in the short term as the RSI line falls from 70.0. If the support at $0.23 level fails, the next level of support lies at $0.22

* Major support level at $0.22

* Next major resistance at $0.25

* RSI breaks 70.0 level, may return to midline in the short-term.

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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