BeInCrypto takes a look at seven altcoins, including Solana (SOL), which has just hit a new all-time high, and dYdX (DYDX), which is validating its previous all-time high as support.

BTC

BTC has risen since it exited a parallel descending channel and validated it as support on Nov 1 (green icon). This showed that the correction taking place from all-time highs is complete.

Currently, BTC is attempting to break out of the 0.618 Fibonacci retracement resistance level at $ 63,530. This is also an area of ​​horizontal resistance.

This would confirm that the correction is complete.

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ETH

Ethereum (ETH) has been moving up at an accelerating rate since September 21. It appears to be in the fifth wave of bullish momentum, which is the final wave, after which a correction is likely to occur.

most likely targets for the high of the current up moves are between $ 4,956 – $ 5,152 and $ 5,615. first is created using an outer Fibonacci retracement on wave four (white) and a projection on waves 1-3 (black), while the second is found using only one projection.

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XRP

On October 9, XRP (XRP) managed to break a descending resistance line on October 9. However, it was rejected by the 0.618 Fibonacci Retracement Resistance Level at $ 1.20.

After the refusal, it moved below this line twice, but recovered it each time (green icon). line should now act as a support. This is a bullish signal that often leads to significant bullish movements.

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Currently, XRP is in the process of breaking out of the $ 1.20 area. If successful, the next resistance would be at $ 1.41.

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DYDX

dYdX (DYDX) is down since Sept. 30, when it hit an all-time high of $ 27.85. decline took the form of a parallel descending channel, which is usually a corrective pattern. This means that a channel breakout is likely to occur.

In the October 27-31 period, the token bounced off the channel’s support line and the horizontal area of ​​$ 14.50. Also, the RSI generated a bearish divergence. This is a sign that often precedes upward movements.

refore, a channel breakout is likely.

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SUN

SOL has been on the rise since it came out of a symmetrical triangle on October 20.

After being rejected between October 20 and November 1, the token resumed its upward movement. On November 3, it reached a new all-time high of $ 232.88.

next closest resistance area is at $ 278. This is the resistance level of the outer Fibonacci Retracement of 1.61 when the most recent dip is measured.

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PRQ

PARSIQ (PRQ) has declined along with a descending resistance line since May 31. You have made four failed escape attempts so far, the most recent on October 25 (red icon). y all created long top wicks, which are signs of sales pressure.

Furthermore, the rejections coincided with the horizontal resistance area of ​​$ 0.95. Until the token breaks out of both the resistance line and this horizontal area, the trend cannot be considered bullish.

Read Also Bitcoin and Ethereum Struggle, SOL and SHIB Move Higher TradingView Chart

MATIC

MATIC has moved higher since September 21. On October 27, it broke out of the horizontal zone of $ 1.74.

After validating it as support, it resumed its upward movement.

It is now approaching its highest price of all time near $ 2.40.

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