The leading crypto Bitcoin, after the psychological level of $ 20 thousand, also recorded gold at $ 19 thousand. The crypto market freezes in the middle of winter. However, some altcoin projects blossomed in the winter and made their investors smile. Crypto analyst Valdrin Tahiri examines the top 5 altcoins that were in the green last week. We have prepared it for our readers with the narration of the analyst.
Revain (REV) tops the list, up 22.54%
REV is falling below a descending resistance line since the beginning of the year. More recently, the line caused a rejection on April 16. It then led to an all-time low of $0.0075 on June 14.
The low created a double bottom compared to the price on May 12. A double bottom is considered a bullish reversal pattern. It is also coupled with bullish divergence on the daily RSI. The REV must break out of the descending resistance line for the model to be confirmed. A break from this line is expected to accelerate the rate of increase. The next closest area of resistance will be $0.0029.
Second altcoin Celcius (CEL) is up 16.09%
CEL, which you follow closely on Kriptokoin.com , rose last week after sharp drops. Similar to the REV, the CEL created a double bottom pattern between May 12 and June 15. The pattern is coupled with the bullish divergence in the RSI. On June 14, the price started a very rapid upward movement. At the high point of the day, the CEL is up 780%.
However, the upward movement could not be sustained. He then left a very long top wick in place. This confirmed a descending resistance line currently at $2. Until the CEL breaks out of this line, the trend cannot be considered bullish.
Trust Wallet Token (TWT) is the third altcoin with 10.95%
TWT has formed a triple bottom pattern since May 12 just above the horizontal support area of $0.55. The pattern is also coupled with bullish divergence on the daily RSI.
More importantly, TWT formed a higher low than the May 12 low. It then started to move upwards on June 17. If the upside continues, the nearest resistance area will be near $0.80. This is the 0.382 Fibonacci retracement resistance level. It also coincides with a descending resistance line.
ConstitutionDAO (PEOPLE) up 7.67%
PEOPLE is falling below a descending resistance line since February 5, 2022. The downside has so far dropped to a new all-time low of $0.01 on May 12.
As the price bounced later, it was rejected by the $0.03 resistance area (red icon). The zone now also coincides with the descending resistance line mentioned above. Therefore, until PEOPLE explodes, the trend cannot be considered bullish.
Okb (OKB) The last altcoin to rise with 0.79%
Finally, OKB also formed a double bottom pattern from May 12 to June 15. It has also been trading inside a descending parallel channel since May 13. Such channels often contain corrective actions. So a breakout is likely. If a breakout from the channel occurs, the nearest area of resistance will be at $13.05.
