Altcoin: Last week, more specifically the week from July 8 to July 15, the five altcoins that fell the most were the following.
- Dogecoin (DOGE): – 11.13%
- Gala (GALA): -9.71%
- Basic Attention Token (BAT): -9.43%
- 1inch Network (1INCH): -9.04%
- Decentraland (MANA): -8.64%
In the continuation of the article, let’s take a look at the next technical levels that analyst Valdrin Tahiri has set for these altcoins.
Dogecoin (DOGE) has been falling below a descending resistance line since May 13. The line most recently caused rejections on June 27 and July 8 (red icons). The latter also coincides with the $0.072 horizontal resistance area. These levels will be decisive for Dogecoin. Only after breaking these two resistance levels can we be sure that the trend has changed, according to analyst Valdrin Tahiri.
Gala Games (GALA)
AmkNews.com GALA, which we have included in our analysis, has been falling within a parallel channel whose price has been decreasing since May 13. Such channels often contain corrective actions. On July 13, it fell to a new year low in the process, falling to $0.044. This apparently caused a breakout from the horizontal support area at $0.05. However, the price has been rising since then and is attempting to break above this area. If GALA manages to retrace the $0.05 horizontal level, it is expected to increase until it breaks out of the channel. Conversely, a rejection from the region will likely lead to new year lows.
Basic Attention Token (BAT)
Since May 12, BAT price has been trading between $0.31 and $0.43. So far, it has dropped above and below these levels once (red circle). More recently, it broke above the resistance area on July 7. After the decline, BAT price formed HL zone. Currently in the process of making another logout attempt. This will be a final breakout from the resistance area, as the resistance weakens each time it is touched.
1inch Network (1INCH)
1INCH is falling below a descending resistance line since May 23. This downward move hit a low of $0.51 on June 18. The price has been increasing since then. However, on 28 June he was once again rejected by the resistance line. Currently, 1INCH is in the process of forming a higher bottom and attempting another breakout. If successful, the next closest resistance area will be $0.78.
On June 22, MANA broke out of a descending resistance line. However, it failed to continue the upward move and it returned to the $0.765 horizontal support area. MANA price then bounced off this support area on July 13 (green icon) and started a short-term upward move. If the upside continues, the nearest resistance area will be $1.05.
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