Bitcoin Magazine will analyze last week’s top 5 altcoin winners to see if their momentum can continue or not?

Last week’s five biggest altcoin winners were:

• Compound (COMP): 67.50%
• XinFin Network (XDC): 67.21%
• Ethereum Classic (ETC): 35.39%
• Elrond (EGLD): 33.55%
• Aave (AAVE): 32.50%

COMP

The COMP has risen since it hit a low of $ 196.46 on June 22nd. On June 27th, it broke a descending line of resistance.

Then on July 1st, it retook the $ 350 zone, a significant upside move as the zone has acted as support and resistance throughout since January.

Technical indicators are increasing. The stochastic oscillator has created a bullish cross, the RSI is above 50 and the MACD histogram is in the positive area.

The next resistance is at $ 470, the 0.382 Fibonacci retracement level.

BTC / USDT daily chart | Source: TradingView

XDC

XDC has been moving along a descending resistance line since it hit a high of $ 0.137 on April 15th. It broke that line and the $ 0.075 horizontal resistance area on June 29th.

It hit a high of $ 0.125 so far on July 3rd. The move confirmed the $ 0.012 area as resistance, touching it for the third time since April. The price has been rejected and is likely to initiate a short-term correction.

However, the technical indicators are bullish. The RSI has just broken the 70s, the MACD is in positive territory and rising, while the stochastic oscillator has created a bullish cross.

Therefore, a possible outbreak could be on the horizon.

Daily XDC / USDT chart | Source: TradingView

ETC

ETC has risen since it hit a low of $ 32.17 on June 22nd. It broke the descending resistance line on June 29th and recaptured the USD 50 area on the same day.

On July 2nd, it confirmed this area as support, creating a higher low.

The technical indicators are rising and support the continuation of the uptrend. The stochastic oscillator created a bullish cross. The RSI has crossed above 50 and the MACD is about to break into positive territory.

Hence, the price is likely to rise to the next resistance area at $ 82.

ETC / USDT daily chart | Source: TradingView

EGLD

EGLD has been moving along a descending resistance line since May 26th. It continued doing so until it hit a low of $ 53.41 on June 22nd. This created a double bottom combined with a significant bullish divergence in indicators.

On June 29th, EGLD broke out. It hit a higher low on July 2 and has risen since then.

The next resistance is at $ 120.

Daily EGLD / USDT chart | Source: TradingView

AAVE

The AAVE has risen since June 22nd when it hit $ 170.1. On June 29, the price broke above the descending resistance line and subsequently confirmed it as support.

Technical indicators are increasing. This is especially evident when the RSI crosses above 50 and the stochastic oscillator creates a bullish cross.

However, AAVE is still facing strong resistance around $ 315 area which has acted as support since February before turning into resistance in June (red symbol). Hence, the trend cannot be considered bullish until the price retraces this zone.

Daily AAVE / USDT Chart | Source: TradingView

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Beincrypto

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