Last week was a challenge for cryptocurrency traders, as the news about the cryptocurrency ban in China, triggered a FUD wave erased much of the gains investors managed to make earlier in the week. Between September 18 and 25, the top 100 altcoins lost as much as 14.4% of their total value , while Bitcoin ( BTC ) lost 12.5%.
The number of altcoins that posted gains of double digits was also unusually low. Data from Markets Pro , Cointelegraph’s data intelligence subscription platform, shows that only eight assets out of hundreds analyzed rose more 10% against the US dollar.
Although trading is an activity marked by a constant flow of profits and losses, how can investors know in advance which tokens are well positioned to weather a storm?
The best performing assets in a difficult week
The following list shows the eight altcoins that managed to ensure a strong performance even in the middle of the sea of red that hit the market last week.
COTI continued his winning streak , driven by the recent publication of the Coti Treasury white paper, the listing of the asset on Crypto.com and the anticipation of a new stablecoin partnership with Cardano .
The CELR momentum accelerated following the launch of the cross-chain bridge “cBridge 2.0 “ by Celer Network, designed to facilitate the transfer of digital assets between major blockchain networks.
The third best performing asset for the week, Trace (TRAC), is the native token from OriginTrail, a blockchain ecosystem and protocol that seeks to improve global supply chains by providing an infrastructure for trusted data exchange. The token’s valuation has grown recently thanks to a series of positive news, such as the adoption by the US home improvement company Home Depot of the SCAN Trusted Factory solution developed on OriginTrail.
TRAC and REN also posted very high VORTECS ™ scores last week. The VORTECS ™ score is a machine learning algorithm that compares current and historical market conditions around crypto assets to help traders make more informed decisions.
The model takes into account a series of quantitative indicators (such as market prospects, price movements, positions social media and trading activity) to generate a score that assesses whether a token’s current conditions are historically bullish, neutral, or bearish.
Here’s how it worked for TRAC and REN last week.
VORTECS ™ caught the first signs of a rebound
The VORTECS ™ model is optimized to detect market and social activity patterns that in the past have consistently appeared 12 to 72 hours before a token’s price skyrocketed. A score of 80 or more indicates that the observed conditions have a strong history of price increases.
TRAC price vs. VORTECS ™ score. Source: TRAC price was volatile throughout the week versus mostly favorable VORTECS ™ scores in the lower to mid-70s. The high score of 81 briefly flashed to end of September 21 (red circle in graph), indicating the model’s growing confidence that market patterns and social activity around the token appeared historically bullish.
Despite a price drop that had started shortly after the peak of l To VORTECS ™ score, TRAC soon saw its fortunes change, initiating a two-day rally from $ 0.37 to $ 0.56.
REN’s price had been steadily dropping in the first half after a series of very high VORTECS ™ scores.
REN ended up hitting a bottom at $ 0.70 before starting to climb again, and the second set of VORTECS ™ scores for the week of 80 or more appeared shortly after. Most experienced traders know that an asset whose VORTECS ™ score remains high for a long time (even while the price remains unchanged) can present an excellent opportunity to profit.
Indeed, towards the end of September 23, the price of REN spiked from $ 0.81 to a high of $ 1.13 about 29 hours later.
Digital assets don’t always perform well. similar to what has been observed in the past, especially during market crashes.
At the end of the day, of the eight best performing coins of the past week, only two generated known bullish patterns before their prices will skyrocket. However, the advantage that the VORTECS ™ score provides to traders may be indispensable in a situation where very few currencies can be expected to outperform the struggling market.
Cointelegraph is a financial information publisher, not an investment advisor. We do not provide individual or personalized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and graphs are correct at the time of writing this review or as otherwise specified. Strategies tested in real time are not recommendations. Consult with your financial advisor before making financial decisions.
Keep reading:
- The price of LCX soars more than 400% after the launch of its DeFi Terminal 2.0
- Analyst Says $ 42,000 Should Hold To Prevent Bitcoin Price From Testing A Lower Low
- This is why Avalanche, OriginTrail and Coti barely moved when the price of Bitcoin fell to $ 40,000
- Following a 273% rise, this key indicator signaled that the CELO rally was overextended gone
- These 2 indicators gave traders a buy signal hours before Filecoin and Near rallied
- Key altcoin price metric offered a bullish signal ahead of Axie Infinity’s parabolic rally
- The US CFTC fines Kraken USD 1.25 million for an alleged illegal offer
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