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.
Critical levels for 5 altcoins that hit bottoms this week
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)
cryptocoin.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.
Decentraland (MANA)
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.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, 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.
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.