In distinction to June, many tokens rallied strongly in July. Bitcoin (BTC) gained 16% whereas six different tokens noticed triple-digit positive aspects.
The ten greatest winners in July have been:
AXS has been rising quickly since July twentieth. This resulted in a brand new all-time excessive of $ 53.50 on July twenty seventh. The token has been falling since then.
The excessive was reached very near the outer 2.61 Fib retracement stage (black) as measured by the newest correction. Hence, there’s a potential space for the price to make a high.
In addition, technical indicators present weaknesses. The RSI has created a bearish divergence and the stochastic oscillator has created a bearish cross (pink symbol).
In the finish, the whole transfer seemed like a accomplished five-wave bullish impulse.
The subsequent help is at $ 29.35. This is the all-time excessive to date and the 0.618 fib retracement help (white).
(*10*)
Daily AXS / USDT Chart | Source: TradingView
XDB has been up since June twenty sixth. On July 27, it hit $ 0.116 excessive and fell, leaving an extended wick above it.
This rejection has a big affect as XDB is at present trading under the horizontal resistance space of $ 0.105. Except for the deviation on May fifth, all breakouts above this stage left an extended wick above it (pink symbol).
In addition, the RSI has created bearish divergence.
The subsequent help is at $ 0.06, the fib retracement help at 0.618 and the horizontal help space.
Daily XDB / USDT chart | Source: TradingView
The FLOW has elevated since June twenty second. On July sixth, it broke out above a descending line of resistance. The price hit a better low on July 20 and has risen quicker since then.
On July thirtieth, the token began a powerful upward transfer, hitting a excessive of $ 29.43. The excessive was created immediately at the retracement resistance of 0.618 Fib.
However, the price couldn’t maintain the increased ranges and generated an extended wick (pink symbol) above it. Additionally, it has now fallen under the USD 24.50 help / resistance space.
Despite the incontrovertible fact that RSI and MACD are nonetheless bullish, the token must rebound from this stage for the pattern to be thought of bullish.
Daily FLOW / USDT chart | Source: TradingView
The SAND has been rising since June 1st. On July 3, it broke above a descending line of resistance. This ultimately led to a excessive of $ 0.845, which was hit on July twenty fourth.
However, the token fell shortly afterwards, leaving an extended wick (pink symbol) on high. The decline confirmed the $ 0.78 space as resistance. In addition, the decline preceded the bearish divergence of the RSI and Stochastic oscillators. The following indicator has generated a bearish cross.
The subsequent help is at $ 0.040.
Daily SAND / USDT Chart | Source: TradingView
The CHR has risen since May twenty third. It broke out of a rising parallel channel on July twenty second and continued to hit a excessive of $ 0.41 three days later.
The price has since fallen and is more likely to decline to substantiate the channel as help.
The technical indicators are nonetheless rising as the RSI is above 50 and the MACD is in optimistic territory. In addition, the stochastic oscillator has not but fashioned a bearish cross.
The fundamental resistance space is at $ 0.46.
Daily CHR / USDT chart | Source: TradingView
PSG has moved up from the low on June twenty second to a excessive of $ 28 on July twenty seventh. Shortly thereafter, the token fashioned a double high and commenced to say no.
The double excessive is related with a bearish divergence between RSI and MACD.
If a downtrend follows, the subsequent help is at $ 21.50.
PSG / USDT 6-hour chart | Source: TradingView
QNT has been struggling to interrupt above the USD 96 resistance space since June 25. It broke out on July 28 and hit an all-time excessive of $ 145 the subsequent day.
The excessive emerges very near the exterior 1.61 fib retracement stage at 125. If the token closes above this stage, the subsequent resistance is at $ 169, the exterior 2.61 fib retracement stage.
The earlier resistance at $ 96 will now act as help.
QNT / USDT each day chart | Source: TradingView
DEGO has risen since July twentieth. On July twenty fifth, it broke a descending line of resistance.
Thereafter, the price confirmed that line and the USD 7.80 zone as help (inexperienced symbol) after which continued to hit a excessive of USD 11.45 on July twenty eighth.
The price is at present falling, presumably confirming the $ 7.80 zone once more.
The subsequent space of resistance is at $ 12.60.
DEGO / USDT 6-hour chart | Source: TradingView
GHST has been rising quickly since July twenty sixth. On July 29, it continued to hit a excessive of $ 1,946.
However, the increased one couldn’t be sustained and the token created an extended wick at the high (pink symbol). This transfer created a triple level.
GHST has since fallen under the $ 1.75 horizontal resistance space.
However, the technical indicators are nonetheless bullish.
The subsequent areas of help are between $ 1.31 and $ 1.43, 0.5-0.618 fib retracement help ranges.
Daily GHST / USDT chart | Source: TradingView
The REP has been rising since June twenty second. On July twenty fourth, it broke a descending line of resistance fashioned on April tenth. This made a excessive of $ 36.51 tomorrow.
However, the REP was rejected by the 0.5 fib retracement resistance and has fallen since then.
It is at present attempting to substantiate the resistance stage and the USD 23.50 space as help earlier than probably initiating additional upside motion.
Technical indicators counsel that the upward pattern will proceed. The RSI is above 50 and the MACD is in optimistic territory. The stochastic oscillator is about to kind a bullish cross.
Daily REP / USDT Chart | Source: TradingView
Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis rigorously earlier than making a choice. We usually are not liable for your funding selections.
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