Ankr (ANKR) has been trading within a parallel descending channel since March 29. It has just recovered the center of the canal.
Numeraire (NMR) means to break out of a descending resistance line and move over a horizontal resistance area.
Venus (XVS) has broken out of a descending wedge and is moving towards the $ 42 resistance area.
ANKR has declined along with a parallel descending channel since reaching its highest price of all time on March 19.
It has touched the support line of this pattern numerous times, most recently on June 22, when it started an upward move. token created a higher low on July 20 and moved above the center of the channel on July 27.
Technical indicators are showing bullish signals, although they have not yet confirmed the bullish reversal. RSI is the most bullish as it has just moved above the 50 line. MACD is moving higher but it is not positive yet.
A movement of the MACD signal line above 0 and a bullish crossover in the stochastic oscillator would confirm the bullish reversal.
Additionally, parallel descending channels often contain corrective movements. In addition to this, the movement above the center of the channel indicates that an upward movement is likely to occur. This would require ANKR at least at the resistance line of the channel and could cause a breakout.
Read Also Sky Mavis Team Comment on Local Government Laws P2E News TradingView Chart
- ANKR is trading within a parallel descending channel
- Technical indicators are turning bullish.
NMR has declined along with a descending resistance line since it hit its all-time high on April 17.
So far, he has made three failed escape attempts.
However, it is currently in the process of creating a bullish candle that would take it above this line. If successful, the closest resistance area would be at $ 54.
Technical indicators support the breakout and continuation of the upward movement. RSI moved above 50 and the Stochastic Oscillator made a bullish crossover. MACD is on the up and is almost in positive territory.
short-term six-hour chart shows that the token is currently making its third breakout attempt above the $ 36.50 horizontal resistance area.
This would also confirm the breakout of the descending resistance line described above.
- NMR is about to break a descending resistance line.
- It is facing resistance at $ 36.50.
XVS has been trading inside a falling wedge since May 25. This eventually led to a low of $ 13.36 on July 20.
XVS erupted the next day and has been on the rise ever since. So far, it has peaked at $ 32.18.
breakout was preceded by a bullish divergence in the MACD, RSI and Stochastic oscillator. divergence was most pronounced on the MACD.
closest resistance area is at $ 42, near the top of the wedge.
Also Read Andreessen-Backed Helium Raises $ 111 Million to Grow Crypto Wireless Network TradingView Chart
- XVS burst from a descending wedge.
- re is resistance at $ 42.
For the latest bitcoin (BTC) analysis from BeInCrypto, click here.
Post DeFi tokens could lead the rally when ANKR, NMR, and XVS Break Out first appeared on BeInCrypto.