Chiliz (CHZ) Breaks Out From Long-Term Resistance: Biggest Weekly Gainers

Be[in]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 12 to 19.

These cryptocurrencies are:

  1. Chiliz (CHZ) : 32.44%
  2. Celsius (CEL) : 5.07%
  3. Shiba Inu (SHIB) : 4.74%
  4. Gnosis (GNO) : 2.60%
  5. EOS (EOS) : 1.40%

CHZ

CHZ has been increasing since June 18. The downward movement caused a breakout from a descending resistance line and led to a high of $0.26 on Aug 18. However, CHZ failed to reach the $0.28 resistance area and has been decreasing since. The closest support area is at $0.155.

CEL

CEL has been moving upward since June 14. The upward movement led to a high of $4.34 on Aug 15. While it initially seemed that CEL had broken out from the $3.50 resistance area, it only deviated above it before initiating a downward movement. 

If the decrease continues, the closest support area would be at $1.45.

SHIB

SHIB has been moving upwards since June 18. It broke out from the $0.0000128 resistance area on Aug 14 and reached a high of $0.000018 the same day.

However, the price was rejected by the $0.000018 resistance area, a crucial level that had previously acted as support (green icon). 

SHIB has been falling since and has returned to the $0.0000128 area.

GNO

On July 17, GNO broke out from an ascending support line that had been in place since June 18. It returned to validate it as support on July 26. The price has been moving upward since and reached a high of $205 on Aug. 18. 

GNO was rejected afterward and has been decreasing since. It is possible that it will return to the resistance line of the channel.

EOS

Similar to GNO, EOS broke out from an ascending parallel channel on July 27 and proceeded to reach a high of $1.83 on Aug. 17. 

The price has been decreasing since and is currently falling towards the resistance line of the channel, which is expected to provide support. 

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here

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Valdrin Tahiri

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto’s Senior Analyst.

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