The last week has been quite a challenge for cryptocurrency traders, as news of China’s crypto ban, which sparked an FUD wave, wiped out much of the gains investors saw earlier in the week. Between September 18 and 25, the top 100 altcoins lost up to 14.4% of their total value, while Bitcoin (BTC) lost 12.5%.
The number of altcoins, which recorded double-digit increases, was also unusually low. Data from Markets Pro, Cointelegraph’s data intelligence subscription platform, shows that only eight out of hundreds of assets analyzed are up more than 10% against the US dollar.
Although trading is an activity characterized by a constant flow of profits and losses, How can investors know in advance which tokens are well positioned to weather a storm?
Powerful assets in a tough week
The list below shows the eight altcoins that managed to perform well even in the midst of the Red Sea that hit the market last week.
COTI continued its winning streak fueled by the recent release of the Coti Treasury whitepaper, the listing of the asset on Crypto.com, and anticipation of a new stablecoin partnership with Cardano.
The momentum of CELR accelerated after the introduction 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 asset of the week Track (TRAC), is the native token of OriginTrail, a blockchain ecosystem and protocol that aims to improve global supply chains by providing an infrastructure for sharing trusted data. The token’s valuation has risen lately thanks to a number of positive news such as: adoption from the American home improvement company Home Depot of the SCAN Trusted Factory solution developed on OriginTrail.
TRAC and REN they also got very high VORTECS scores last week. The VORTECS Score is a machine learning algorithm that compares historical and current market conditions surrounding crypto assets to help traders make more informed decisions.
The model takes into account a number of quantitative indicators (such as market outlook, price movements, social media attitudes, and trading activity) to generate a score that assesses whether the current conditions for a token are historically bullish, neutral, or bearish.
This is how it worked for TRAC and REN last week.
VORTECSâ ?? caught the first signs of recovery
The VORTECS® model is optimized to recognize market and social activity patterns that have occurred consistently in the past 12 to 72 hours before a token price jumped. A score of 80 or higher indicates that the observed conditions have a strong history of price increases.
TRAC’s price has been volatile throughout the week versus the mostly cheap VORTECS levels in the lower to mid-1970s, with the high of 81 briefly flashing in late September (red circle on the chart), indicating the model’s growing confidence suggests that market patterns and social activity around the token appeared historically bullish.
Despite a drop in prices that started shortly after the peak of the VORTECS® score, TRAC soon took a turnaround, initiating a two-day rally from $ 0.37 to $ 0.56.
The price of REN had steadily decreased in the first half after a series of very high VORTECS® values.
REN eventually bottomed at $ 0.70 before beginning to rise again, and shortly thereafter came the second set of VORTECS ™ scores for the week of 80 or more. More experienced traders know that an asset that has a VORTECS® Score that stays high for a long time (even if the price stays the same) can be an excellent opportunity for profit.
Effectively, towards the end of September 23, the price of REN rose from $ 0.81 to a high of $ 1.13 about 29 hours later.
Digital assets do not always behave in the same way as observed in the past, especially during market downturns.
After all, of the eight best-performing coins last week, only two generated well-known bullish patterns before their prices skyrocketed. The advantage that VORTECS®-Scoring offers traders can, however, be indispensable in a situation where very few currencies can outperform the ailing market.
Cointelegraph is a financial information publisher, not an investment advisor. We do not offer individual or personalized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent loss and total loss. Past performance is not an indication of future results. Illustrations and graphics are correct at the time of preparation or as otherwise stated. Strategies tested in real time are not recommendations. Consult your financial advisor before making any financial decisions.