Altcoin Leaders: Gains Don't Always Translate to Chart Strength

Bitway (BTW), Venice Token (VVV), and Filecoin (FIL) were the top three altcoins by weekly performance over the third week of September. BTW gained the most at 43.2% but has a weak chart, while FIL had the least gain but strong support and volume.

BTW's price surged to near $0.70 after its breakout in September, but its daily chart shows a rejection at resistance between $0.75 and $0.78. The volume behind the breakout stayed below levels recorded in June and July, indicating fading participation.

RSI also shows a bearish divergence for BTW, as price climbed roughly 75% from mid-August while RSI slipped from about 85 to the low 70s. Key support sits at $0.48, some 31% below the current price, and a deeper correction could bring $0.15 back into play.

On the other hand, VVV tested its previous record high of $29.288, which was set on September 9. The token has corrected 26.7% from that level but is now retesting it. RSI sits near 60 with no bearish divergence, but the rally legs between record highs are shrinking.

FIL tests $1 on strong volume after climbing 61.3% from its August 18 low at $0.6095. Daily turnover reached $420 million against an $823 million market cap, making it the strongest among this week's leaders. Price cleared $0.80, which aligns with the 0.236 Fibonacci retracement, and then tagged $1.0370 today before easing back.