1. SXP (SXP)
SXP price leads underperforming altcoins of the week as it experienced a significant surge in value over six days starting March 27, resulting in a new yearly high of $0.94. However, its price has since dropped and reached a low of $0.57 on April 12. A rebound (green icon) during the next 24 hours confirmed the 0.5 Fib retracement support level. SXP may return to the $0.93 resistance area if the rebound continues. If it fails to stay above $0.58, it could plummet to $0.35.
2. Enjin (ENJ)
Enjin (ENJ) price reclaims the bottom of the trading range, as its price has been on the rise since March 10. It moved above the $0.41 horizontal support area on April 5 and confirmed it as support on April 12 (green icon). The price may increase to $0.55 if the rebound continues. However, a loss of momentum could lead to a retest of the $0.41 support area.
3. IOTA (IOTA)
IOTA (IOTA) price broke out from the resistance line, after breaking out from a descending resistance line on March 29, its price increased to a high of $0.24 on April 6. However, it was met with resistance at the 0.618 Fib retracement level (red icon) and subsequently fell. Following this, the digital asset fell to an ascending support line. A breakdown could lead to a drop to $0.20, while a breach of the 0.618 Fib level could increase its value to $0.27.
4. Quant (QNT)
Quant (QNT) price has traded within an ascending parallel channel since November 2022. However, such channels usually contain corrective patterns, meaning a breakdown is likely. If that occurs, the QNT price could decrease to $97. But, if it breaks out from the short-term resistance line (dashed), it could increase to the channel’s midline at $140.
5. Frax Share (FXS)
Frax Share (FXS) price approaches critical resistance, trading in an ascending parallel channel since creating a long lower wick on March 11. The price reached $10 resistance on April 5. Whether it breaks out above this area or breaks down from the channel will determine its future trend. A breakout could lead to an increase toward the channel’s resistance line at $12, while a breakdown could lead to a retest of the $7.50 area.
