Last week’s profit leader, Optimism (OP), updated the ATH price for the week from July 29 to August 5. The L2 solution has been skyrocketing since the beginning of July due to its proximity to Ethereum. In this article, let’s take a look at the 5 altcoin projects that closed the weekly green board in the top positions. Analyst Valdrin Tahiri identifies the next critical resistance levels.
- Flow (FLOW): 47.94%
- Filecoin (FIL): 39.59%
- Optimism (OP): 28.86%
- Chiliz (CHZ): 23.87%
- Yearn.Finance (YFI): 22.37%
Here are 5 altcoins that are profit leaders this week
Flow (FLOW)
FLOW has been rising in an ascending parallel channel since June 18. It managed to exit the channel on August 4 and reached $2.98 the next day. However, the main resistance area failed to reach $3.10. If it manages to break past this level, the momentum will pick up substantially due to the lack of resistance above $3.10.
Filecoin (FIL)
The FIL is gradually moving upwards from June 18. It broke out of a descending resistance line on July 17. He then increased his ascent rate. This price action hit $11.39 on August 1. However, it has been falling since being rejected from the $11.25 horizontal resistance area. The area most likely to provide support is between $7.40 and $8.20. Conversely, the next area of resistance is $15.80.
Optimism (OP)
The OP has been rising alongside an ascending parabolic support line since July 13. In a 22-day period, the price gained 440%. Thus, it had an opportunity to hit an all-time high of $2.25 on August 4, but the price has dropped a bit since then. On the other hand, the parabolic support line is still intact and so is the uptrend. cryptocoin.comAs you follow, Optimism (OP) was also the snow king for the week of July 22-29.
Chiliz (CHZ)
CHZ has been rising since June 18. It broke out of the $0.134 horizontal resistance area on August 1 and confirmed the area as support the next day. If the upward move continues, the next closest resistance area is between $0.205 – $0.235.
Yearn.Finance (YFI)
YFI has been rising within an ascending parallel channel since June 18. It exited this channel on July 29 and reached $14,200 the next day. The price has been dropping since then. Meanwhile, in the process of confirming the resistance line of the channel, the fourth wave is completing its retracement. If successful, it will lead to another upward move towards $17,000. A break of wave one (red line) below $8,087 will invalidate this particular wave number.
