Solana and FTX Token have lost over 50% since last week, while DEX tokens like dYdX gained double digits. In this article, let’s take a look at the next resistance levels of the 5 altcoin projects that rose in the market crash, accompanied by analyst Valdrin Tahiri.
- ConstitutionDAO (PEOPLE) 27.30%
- dYdX (DYDX) 12.51
- SwissBorg (CHSB) 6.36%
- Aragon (ANT) 6.30%
- BinaryX (BNX) 1.66%
Here are 5 altcoins that rose in the market crash
PEOPLE token has been declining inside a symmetrical triangle since May 6. A symmetrical triangle is considered a neutral pattern. It mostly results in the downward direction. Additionally, the daily RSI moves freely above and below 50. This is a sign of an obscure trend that further aligns with the presence of the triangle. Therefore, according to analyst Valdrin Tahiri, the movements of the ConstitutionDAO price from the triangle will likely determine the side of the future trend.
dYdX (DYDX) rebounds from year’s lows
DYDX broke out of a descending resistance line that has existed since August 1 on October 27. However, he could not continue his upper movement and returned to the mainstay once again on 8 November. The ensuing bounce (green) confirmed both the resistance line and the $1.25 horizontal support area. The top truth move is going in contrast to the rest of the crypto market, which has sunk into a valuable drop.
Currently, DYDX price is breaking out of the 0.5 Fib retracement resistance area at $1.96. If successful, the next resistance is in the $2.50 region. On the contrary, a drop below the November low of $1.18 (red) would invalidate the bullish price assumption.
CHSB retakes $0.22 zone
The CHSB has been acting without error since June 15. It recorded a higher base (HL) in mid-September and then accelerated its uptrend. This breakout hit a local high of $0.34 on November 7. Later, during the mid-November 7-10 crash, CHSB price bounced back to the $0.22 area. He subsequently confirmed this level as a foothold (green). As long as he sees the process above this, the bulls will take the stage for a while, according to the analyst. However, a break below the area will likely take it to the rising support line at $0.18.
ANT price gains 6% amid altcoin market crisis
ANT price has been rising inside an ascending parallel channel since the beginning of May. The ascending parallel channel is considered a bearish divergence even though the price has not fallen below the May low. Therefore, a breakdown from it will be the most possible scenario. If one happens, the price will likely drop to yearly lows of $1.22. Currently Aragon price is trying to move above the middle of the channel (red). If it succeeds and exits the channel (red line), it will invalidate the downtrend according to the analyst.