In the week from March 3-10, Bitcoin (BTC) and most altcoins have lost over 5%. Bankruptcies in the banking sector were the main catalyst behind the decline. In this article, we list the 5 altcoins that closed the week on a positive note despite the selling pressure in the market, along with the next technical levels.
- Kava.io (KAVA): +9.76%
- DAO Maker (DAO): +6.80%
- Liquidity (LQTY): +2.89%
- XRP (XRP): +0.45%
- Bone ShibaSwap (BONE): +0.23%
Kava.io (KAVA) leads gains in altcoin market
KAVA price has fallen within a descending parallel channel since Jan. Such channels often contain corrective moves, which means that an eventual breakout is expected. The price is currently at the top of the channel, which increases the likelihood of a breakout.
According to technical analyst Valdrin Tahiri, if the channel is broken to the upside, KAVA price could rise to $1.06. On the other hand, if a rejection follows, KAVA could drop to $0.70, the support line of the channel.
DAO Maker (DAO) failed to break critical resistance
The DAO price has rallied since it broke out of a descending resistance line at the beginning of the year. The upward move reached $1.90 on March 8. However, the price was rejected by the 0.618 Fib retracement resistance level (red icon) and formed a bearish candlestick.
If the rejection starts to reverse, the DAO could drop to the nearest support area at $1.35. On the other hand, if it climbs above $1.85, the price could rally to $2.50.
Liquidity (LQTY) shows signs of weakness accompanied by altcoin market
LQTY price has dropped below a descending resistance line since March 6. It is currently trading slightly above the $1.70 horizontal support area. If the price structure breaks down, the next support level could drop to $1.40.
On the other hand, if LQTY breaks out of the resistance line, it could start a relief rally from the $2.08 low to the 0.5 Fib retracement level.
XRP price drops in descending channel
Similar to KAVA, XRP price has also been falling within a descending parallel channel since Dec. The resistance line of the channel rejected the price on March 8 and 9 and formed long upper wicks (red circle).
If the price continues its favorable course, it could drop to the support line of the channel and the $0.33 support area. On the other hand, a breakout could lead to a sharp increase towards $0.42.
Bone ShibaSwap (BONE) drops to lows
At the end of February, BONE price made several unsuccessful attempts to break above $2. These have created a large number of long top wicks (red circles), which are considered signs of selling pressure. Also, they are combined with a bearish divergence on the RSI (green line). Then, the price dropped to the $1.45 support area and bounced back.
Currently, the altcoin is trading between $1.45 and $2. Breakout or down can determine the future trend. A break could lead to a rapid increase to $2.60, while a break could lead to a drop to $1.17. cryptocoin.com Shibarium launch is currently one of the main catalysts behind the BONE token.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.