Unlike in June, numerous tokens increased significantly in July. Bitcoin (BTC) was up 16%, while six different tokens posted triple-digit increases.
ten altcoins that rose the most in July are:
- Axie Infinity (AXS) – 629%
- DigitalBits (XDB) – 271%
- Flow (FLOW) – 173%
- Sandbox (SAND) – 158%
- Chromia (CHR) – 116%
- Paris Saint-Germain (PSG) fan card – 107%
- Amount (NQF) – 88%
- Dego Finance (DEGO) – 83%
- Aavegotchi (GHST) – 60%
- Wishes (REP) – 56%
AXS
AXS has been moving up at an accelerating rate since July 20. This led to a new all-time high of $ 53.50 on July 27. Since then, the token has moved down.
maximum was reached very close to the external retracement level of Fib 2.61 (black) when measuring the most recent part of the increase. So it is an area where a summit is likely to be reached.
Beyond that, technical indicators show signs of weakness. RSI has generated a bearish divergence and the Stochastic Oscillator has created a bearish cross (red icon).
Finally, the whole move looks like a full five-wave bullish momentum.
closest support level is at $ 29.35. This is the previous all-time high and the 0.618 (white) Fibonacci retracement support level.
TradingView Chart
XDB
XDB has moved higher since June 26. On July 27, it peaked at $ 0.116 and declined, leaving a long upper wick in place.
rejection was important as XDB is now trading below the horizontal resistance area of $ 0.105. With the exception of a detour on May 5, all raids above this level have left long upper wicks (red icons).
Furthermore, the RSI has generated bearish divergences.
closest support level is at $ 0.06, the Fibonacci retracement support level is 0.618, and a horizontal support area.
Also Read Bitcoin Reaches $ 3 Billion Annual Rate of Return – ETC Group Report TradingView Chart
FLOW
FLOW has been on the rise since June 22. On July 6 it emerged from a descending resistance line. It created a higher low on July 20 and has been rising at an accelerating rate ever since.
On July 30, the token started a strong bullish move and peaked at $ 29.43. high was reached right at the 0.618 Fib retracement resistance level.
However, the higher prices could not be sustained and FLOW created a long upper wick (red icon). On top of that, it has now fallen below the horizontal resistance area of $ 24.50.
Even though the RSI and MACD are still bullish, the token must regain this level for the trend to be considered bullish.
TradingView Chart
SAND
SAND has been moving higher since June 1. On July 3 it managed to break a descending resistance line. This eventually led to a high of $ 0.845 on July 24.
However, the token diminished soon after, leaving a long top wick (red icon) in its place. fall validated the horizontal area of $ 0.78 as resistance. Furthermore, the decline was preceded by bearish divergences in the RSI and the Stochastic Oscillator. latter has now made a bearish cross.
closest support level is at $ 0.040.
TradingView Chart
CHR
HRC has been on the rise since May 23. On July 22, it managed to break out of a parallel ascending channel and hit a high of $ 0.41 three days later.
Since then it has declined, potentially coming back to validate the channel as support.
Technical indicators remain bullish as the RSI is above 50 and the MACD is positive. Also, the stochastic oscillator did not make a bearish cross.
main resistance area is at $ 0.46.
TradingView Chart
PSG
PSG has been on the rise since hitting a low on June 22. upward movement continued until a high of $ 28 was reached on July 27. high was reached right at the 0.5 Fib retracement resistance level as we measured the entire move to the downside. Soon after, the token created a double top pattern and began to decline.
Read also Unpublished photos of Kobe Bryant for NFT auction, proceeds will go to charities
double top was combined with a bearish divergence in the RSI and MACD.
If a move to the downside follows, the closest support level would be at $ 21.50.
TradingView Chart
QNT
QNT has struggled to break out of the $ 96 resistance area since June 25. It broke on July 28 and hit an all-time high of $ 145 the next day.
high was reached very close to the outer Fibonacci retracement of 1.61 to $ 125. If the token manages to close above this level, the next resistance would be at $ 169, the outer Fibonacci retracement 2.61.
old resistance area of $ 96 should now serve as support.
TradingView Chart
DEGO
DEGO has moved higher since July 20. It emerged from a descending resistance line on July 25.
After that, it validated the $ 7.80 line and area as support (green icon) and then hit a high of $ 11.45 on July 28.
It is currently down, with the potential target of validating the $ 7.80 area once again.
closest resistance area is at $ 12.60.
TradingView Chart
GHST
GHST has been moving up at an accelerating rate since July 29. On July 29, it peaked at $ 1,946.
However, the higher prices could not be sustained and the token created a long upper wick (red icon). This actually created a triple top caral.
Since then, GHST has fallen below the $ 1.75 horizontal resistance area.
However, technical indicators remain optimistic.
closest support areas are between $ 1.31 and $ 1.43, the retracement support levels of 0.5-0.618 Fib.
TradingView Chart
REPRESENTATIVE
REP has been rising since June 22. On July 24, it emerged from a descending resistance line that had been in place since April 10. This led to a high of $ 36.51 the next day.
Read also Kevin O’Leary wants to double his cryptocurrency portfolio
However, REP was rejected by the 0.5 Fib retracement resistance level and has been moving lower ever since.
It is currently attempting to validate the resistance line and the $ 23.50 area as support, before potentially starting another bullish move.
Despite the bearish crossover on the stochastic oscillator, the MACD and RSI remain bearish.
TradingView Chart
For the latest bitcoin (BTC) analysis from BeInCrypto, click here.
Disclaimer
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.
Source link
more
