The most lucrative altcoin project of the week of 17-24 December was Near Protocol (NEAR). Next up, we take a look at 7 altcoins that are looking for bottoms in the same week. Analyst Valdrin Tahiri identifies critical resistance and support levels.
Here are the week’s redboard leaders
OCD has been rising since Sept 26 with an ascending support line. It is currently attempting to break above the $32 horizontal resistance area and has not traded above this level since May. According to the analyst, the next resistance area is the ATH level at $42.
WAVES has been thinking alongside a descending parallel channel since Oct. 24. On December 4, the token apparently broke out of the $15 horizontal area. However, it soon rebounded and once again returned to the resistance line of the channel. A breakout from this formation could accelerate the rise.
cryptocoin.com You can take a look at the most profitable altcoins of the week here.
Altcoin MDX deepens decline!
MDX has been falling since October 12. On December 15, the ATH price reached $0.34. This corresponded to a 78% drop in just 64 days. MDX will remain bearish until it manages to reclaim the $1.90 area that previously acted as support.
VGX has been falling ever since it hit ATH price on Nov 22. It broke from an ascending support line on December 14 and confirmed it as resistance two days later. Later, it managed to stay above the $2.95 horizontal area. However, it has yet to initiate any significant upward movement. If a breakout occurs from this zone, the next closest support is $2.40.
FX has been falling in a descending wedge since Aug. It hit the lowest dollar on December 4, then bounced back and held above the $0.82 area. If a break below the wedge occurs, the closest resistance will be seen at $1.40.
POLS has been falling near a descending resistance line since Dec. That fell to $2.5 on Dec. 20. The analyst identifies the main resistance zone as the $3.55 to $3.88 range.
CHSB has been trading just above the $0.60 horizontal area since early September. It initially broke down on December 23, but was soon able to reclaim the area. According to the analyst, the reaction from the support below will determine the trend direction.
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