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

Last week’s five biggest altcoin winners were:

• Axie Infinity (AXS) – 116.54%
• Kucoin Token (KCS) – 81.78%
• Flow (FLOW) – 74.58%
• Stack (STX) – 57.46%
• Synthetix (SNX) – 46.99%

AXS

AXS has been moving along a descending resistance line since April 29th. It made three unsuccessful breakouts before finally moving over that line on June 15.

Price returned on June 23 to confirm that line as support and has accelerated since then.

In less than 18 days, AXS gained 585% to hit a new all-time high of $ 19.60 on July 10th.

Despite the sharp increase, it shows signs of weakening. While the AXS has made a higher high, both the RSI and MACD have created bearish divergence. In addition, both tips are connected with long upper wicks.

If a correction occurs, the zone is expected to act as support between $ 9.20 and $ 11.20. This area is the 0.5-0.618 fib retracement support area.

AXS / USDT 6-hour chart | Source: TradingView

KCS

KCS has been moving towards a descending resistance line since April 10th. It broke above this line on July 3, reaching as high as $ 14.85. That high is just slightly above the 0.618 fib retracement resistance at $ 14.

KCS then fell, falling to $ 10.40 on July 8th. However, the price created a long wick underneath and recovered.

The technical indicators are rising and support the continuation of the uptrend. The MACD is in positive territory, the RSI is above 70 and the stochastic oscillator has created a bullish cross.

If KCS manages to regain the $ 14 zone, it is expected to bounce back to the all-time high of $ 20.

Daily KCS / USDT chart | Source: TradingView

FLOW

The FLOW has risen since it hit a low of $ 6 on June 22nd. On July 6th, it broke the descending resistance line drawn from the April 5th high.

By that point, FLOW had hit a high of $ 20.28 on July 11th.

Technical indicators in the daily timeframe are bullish. It appears that the MACD is cutting almost positive territory, the RSI is above 70, and the stochastic oscillator has created a bullish cross.

The main resistance area is at $ 25.30. This is the 0.5 fib retracement resistance and the horizontal resistance range. A break above this resistance will confirm that the trend is bullish.

Daily FLOW / USDT chart | Source: TradingView

STX

The STX has risen since June 22nd after hitting a low of $ 0.50. The upside continued to hit a high of $ 1.47 on July 11th.

This move helped the price break above both the descending resistance line and the horizontal resistance area of ​​$ 1.20. Currently, the USD 1.20 zone is expected to act as support.

The next resistance is at $ 1.67. This is the 0.5 fib retracement resistance and the horizontal resistance range. Technical indicators are bullish and support the continuation of the uptrend towards this level.

Daily STX / USDT chart | Source: TradingView

SNX

The SNX has been up since June 26th. It broke through a rising parallel channel on July 4th and hit a high of $ 12.74 two days later.

The SNX then fell, confirming the resistance line of the channel as support (green symbol). This appears to be a pullback that includes wave 4.

The potential target for the top of the move is between $ 15.64 and $ 16.28. This area is the resistance level of the 0.5 Fib retracement (black) and the Fib projection of waves 1-3 (white).

SNX / USDT 6-hour 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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