Bitcoin and the crypto markets are breaking down today, giving these three resilient altcoins the stage to showcase their strength. Covered: Monero (XMR) Frax Share (FXS) Binance Coin (BNB) RECOMMENDED: MONERO PUMPS AS INVESTORS TURN LEARY OF CBDC OVERREACH Monero (XMR) As the geopolitical landscape faces greater uncertainty, Monero (XMR) has proven itself as a […] The post Three Resilient Altcoins For The Week Of April 18th appeared first on CryptosRus.

Three Resilient Altcoins For The Week Of April 18th

Bitcoin and the crypto markets are breaking down today, giving these three resilient altcoins the stage to showcase their strength.

Covered:

  • Monero (XMR)
  • Frax Share (FXS)
  • Binance Coin (BNB)

RECOMMENDED: MONERO PUMPS AS INVESTORS TURN LEARY OF CBDC OVERREACH

Monero (XMR)

As the geopolitical landscape faces greater uncertainty, Monero (XMR) has proven itself as a resilient altcoin to provide for those in need of privacy in recent months. Without going into detail, economic security is getting challenged for many citizens across the globe right now, and it appears that many are finding refuge in Monero to keep their spending private.

At the time of writing, XMR is trading at $238.32

Since bottoming during the onset of the Russian invasion of Ukraine on February 24th, XMR has been on a non-stop tear upwards, with no signs of a dip to be found. As far as technicals go, it has reversed course from its multi-month downtrend and is printing what appears to be the beginnings of a multi-month uptrend, assuming it can hold above the green 50-day estimated moving average (EMA). In the course of XMR’s history, this trend line has served as the backbone of XMR’s run-up following the March 2020 pandemic crash, so reclaiming that line as support bodes well for the privacy coin’s longer-term future.

The pump has coincided with a nice bullish impulse in the weekly relative strength index (RSI), which measures the overbought and oversold conditions of an asset. If XMR is to continue its grind higher, we would want to see the RSI’s uptrend remain intact as well.

Frax Share (FXS)

If you’ve been holding onto Frax Share (FXS) for the past couple of months, you may be asking yourself where the talk surrounding this mysterious “bear cycle” is coming from.

Being a relatively new project, there’s not as much data to work here with. However, following its initial sell-off upon launch back in February 2021, FXS has been on a nonstop bull trend since bottoming in the 2021 summer bear cycle.

Currently, FXS is trading at $29.57.

FXS has pulled back from its most recent pump just a few weeks ago, providing the opportunity for FXS bulls to scoop up the dip.

Having its own FRAX stablecoin, FXS seems to be benefitting from the looming decentralized stablecoin narrative that Terra’s UST has been brewing up in the markets since beginning its historic rise.

While most coins are down significantly from their all-time highs, FXS looks like it’s climbing right back to its own. Assuming Bitcoin can lift the markets out of its downtrend, FXS could be one of the first movers to benefit from bullish sentiment, sending it beyond its previous all-time high and into price discovery.

RECOMMENDED: TERRA’S UST STAKING IS NOW SUPPORTED BY BINANCE — ANCHOR PROTOCOL KILLER?

Binance Coin (BNB)

The last resilient altcoin on this week’s list goes to one of the long-forgotten smart contract platforms, Binance Coin (BNB). BNB is the native gas token of the BNB Chain, home to the community of the largest crypto exchange in the world.

We saw a historic run-up from BNB back in February 2021, catching the entirety of the crypto markets by storm as it climbed 15x from its double-digit lows. Since its show-stopping pump, however, BNB has flatlined ever since, creating the base for a large accumulation phase before running another next leg higher.

At the time of writing, BNB is trading at $404.70.

BNB tends to snake sideways for long periods of time before taking sharp vertical moves to greater heights, and the current price action could be demonstrating yet another repetition of the token’s history.

The most notable thing to pay attention to from a technical perspective is the large hidden bullish divergence being created on the weekly timeframe. As the price has slowly climbed higher, the RSI has been forming lower lows, coiling for a greater impulse once it can break out from its falling wedge pattern. All that could be needed to lift BNB higher is significant strength from Bitcoin and the greater crypto market, giving investors more confidence to buy up BNB and push it into price discovery.

That’s all for this week’s list of resilient altcoins. Be sure to tune in next week to keep your altcoin radar up-to-date with the strongest candidates.

The post Three Resilient Altcoins For The Week Of April 18th appeared first on CryptosRus.