Bitcoin Magazine will analyze last week’s prime 5 altcoin winners to see if their momentum can proceed or not?
These 5 altcoins are:
AXS has been on the rise because it hit a low of $ 14.10 on July 20. On July twenty fourth, it hit an all-time excessive of $ 49.78.
Over a 4 day interval, AXS is up 252%. The larger, nonetheless, was not maintained and an extended wick arose over it.
AXS moved above the $ 41.86 resistance space however was unable to maintain the upward momentum. $ 41.86 is the extent that may act as the highest as it’s Fib extension 1 of waves 1-3 (orange).
If one other upward transfer happens, the subsequent resistance can be discovered between $ 54 and $ 58.76. This space is created by the outer Fib retracement (black) and the Fib projection (orange).
In any case, it appears like AXS is on the fifth wave of a bullish impulse, so it’s going to possible peak quickly.
Daily AXS / USDT Chart | Source: TradingView
The TEL has fallen together with a descending resistance line since May 11, after hitting an all-time excessive of $ 0.064. It made an unsuccessful escape try on July 1st (pink symbol).
On July 20, TEL hit a low of $ 0.0091. Combined with the May nineteenth low, this creates a double backside.
Shortly thereafter, TEL broke out above the descending resistance line.
Technical indicators are comparatively optimistic. The RSI has simply handed the 50 mark and the stochastic oscillator has created a bullish cross.
The subsequent resistance is at $ 0.03. This is the 0.382 fibonacci retracement resistance.
Daily TEL / USDT Chart | Source: TradingView
THETA has been bearish since April 16, together with a descending resistance stage when it hit an all-time excessive of $ 15.88.
To date, the price has made three unsuccessful breakouts, most not too long ago on June seventeenth (pink icon).
On May 19 and July 20, THETA hit a double backside close to the USD 4 horizontal assist space.
It moved up after the formation of a double ground and is now attempting to interrupt out once more. The MACD, RSI, and the stochastic oscillator are all rising and supporting a breakout.
If price breaks above the descending line, the subsequent space of resistance is more likely to be discovered at $ 9.70. This is the 0.5 fib retracement resistance and the horizontal resistance vary.
THETA / USDT each day chart | Source: TradingView
ICP has fallen together with a descending resistance stage since June twenty ninth. On June twenty sixth and July twentieth, the ICP double bottomed close to the $ 27 mark.
After that, the price began rising and broke above the descending resistance line.
The double backside and breakout look identical to the TEL, with the one exception that the ICP motion continues within the shorter timeframe.
Currently, ICP is trading on the 0.618 retracement FIb resistance at $ 47. A break above this stage may lead the price to the subsequent resistance at $ 60.
The MACD is in optimistic territory and rising whereas the RSI is close to 70. These are all bullish indicators.
ICP / USDT 6-hour chart | Source: TradingView
OKB has risen since June twenty second. It hit its first larger low on July 20 and continued to maneuver quickly upwards.
The price simply moved above the 0.618 fib retracement resistance at $ 14.96. This can be a long run horizontal space of resistance.
A reversal of this zone as assist might set off an upward transfer in the direction of $
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