Top 7 Altcoin winners of the week: AXS, FLOW, XRM, RVN, OKB, STX, HBAR
Bitcoin Magazine will analyze the seven altcoins that have risen the most in the past seven days to see if their momentum can continue.
These altcoins are:
- Axie Infinity (AXS): 81.17%
- Flow (FLOW): 34.43%
- NEM (VIEW): 18.86%
- Raven Coin (RVN): 13.42%
- OKB (OKB): 11.03%
- Stack (STX): 9.01%
- Hedera hash graph (HBAR): 8.97%
AXS has grown rapidly since June 22nd. It rose 921% in just 23 days, leading to a new all-time high of $ 29.20 on July 15th.
The high was very close to the external fib retracement level of 2.61 at 26.5 (black). AXS closed below this zone and created a shooting star.
The next resistance is at $ 39.95, the external fib retracement level of 3.61, while the next support is between $ 16 and $ 19.1, the 0.382-0.5 fib retracement support (white) .
Daily AXS / USDT Chart | Source: TradingView
FLOW moved down along with the descending resistance line initiated on April 5th and eventually attempted to move above that line on July 6th.
It has risen since then, peaking on July 15 at a high of $ 20.61.
The next area of resistance is at $ 25.33. This is the 0.5 fib retracement resistance and the horizontal resistance range.
The MACD and Stochastic Oscillator are moving up and while the RSI may have started going down it has not yet shown a bearish signal.
Daily FLOW / USDT chart | Source: TradingView
The NEM has been moving along a descending resistance line since March 3rd. The price broke above it on June 13th but fell to a lower lows on June 22nd.
The token has been on the rise since then, hitting a high of $ 0.146 so far.
The next area of resistance is at $ 0.24.
Technical indicators are increasing. The RSI is moving up and above 50. The MACD has almost hit positive territory while the stochastic oscillator has created a bullish cross.
Hence, the token is expected to rebound towards the $ 0.24 horizontal resistance area.
NEM / USDT daily chart | Source: TradingView
The RVN coincided with a descending resistance level that began on May 7th. It hit a low of $ 0.04 on June 22nd and then rebounded. On July 4th, the price broke above this line.
The sustained uptrend is supported by both the MACD and the RSI.
The next area of resistance is at $ 0.102.
RVN / USDT 6-hour chart | Source: TradingView
OKB has been up since June 22nd when it hit a low of $ 8.50. The uptrend is gradual and erratic, suggesting that it may be corrected. Movement can be included in an ascending parallel channel.
The next resistance is at $ 12.55, the 0.382 fib retracement resistance.
Until OKB breaks across the channel, the trend cannot be considered bullish.
OKB / USDT 6-hour chart | Source: TradingView
The STX has been up since June 22nd when it fell as low as $ 0.50. The upside movement hit a high of $ 1.47 on July 11th. It looks like a bullish impulse has completed on five waves.
The STX has been bearish since July 11th and appears to be in an ABC correction structure. It hit the 0.382 fib retracement support and bounced back. Next support is at $ 0.98, 0.5 Fib retracement support.
STX / USDT 6-hour chart | Source: TradingView
HBAR has been trading within a descending parallel channel since March 15th. On June 22nd, it hit the channel’s support line and ricocheted. The move also coincided with a confirmation of the $ 0.15 area as support.
The technical indicators are rising and support the continuation of the uptrend. This is particularly evident when multiple bullish divergences are created.
However, the HBAR needs to retrace the centerline of the channel to confirm the trend reversal.
Daily HBAR / 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.
According to Beincrypto