BeInCrypto analysts announced 7 altcoin projects that are expected to perform well in July. According to analysts’ reviews, these cryptocurrencies are likely to experience major developments in the month we just entered.
Top 7 altcoin projects of July
The cryptocurrency market experienced a great panic as BTC dropped below $20,000. This was because the $20,000 level was psychological support. However, the drop in BTC was reflected in Ethereum and other altcoin projects. However, some projects have the potential to challenge current market situations. As Kriptokoin.com, we have prepared it for you.
Origin Protocol (OGN)
Origin Protocol is a Web3 protocol aimed at people accessing NFTs and decentralized finance (DeFi). The protocol launched the Origin NFT market, which aims to be the leading NFT market on a Sales basis. Additionally, the project provides an algorithmic stablecoin called Origin Dollar (OUSD). However, Origin Protocol has an altcoin asset called OGN. The protocol will launch an airdrop on July 12 where OGN holders will be rewarded with OGV tokens. The snapshot for the airdrop will be taken randomly from July 5 to 12. However, OGN has been falling below a descending resistance line since March 20. The line caused numerous rejections, the most recent being on June 28. Accordingly, a possible break from the line will result in the price rising to the nearest resistance at $0.42.
Ethereum (ETH)
Ethereum is the second largest cryptocurrency by market cap. It allows users to build decentralized applications (dApps) on the blockchain. Additionally, it facilitates smart contracts and allows NFT transactions. The altcoin asset of the project is ETH. However, the Ethereum Community Conference (ETHCC) will take place from July 19-21. Accordingly, the conference is the largest annual European Ethereum event focusing on technology and community. According to Ethereum price, ETH rebounded from the 0.618 Fib retracement support level at $1,033. Thus, it created its first low since June 18.
Tezos (XTZ)
Tezos is a Proof-of-Stake Blockchain that offers smart contract functionality similar to Ethereum. Besides, it simplifies the creation of dApps and has a native altcoin named XTZ. Accordingly, the project will hold a conference called TezDev this month. TezDev conference will be held in Paris from 21 to 23 July. The Tezos conference aims to create a workshop and network for various developers. However, XTZ price has been falling into a descending wedge since February 24. The wedge is considered a bullish pattern. That often leads to breakage. If a breakout occurs accordingly, the nearest area of resistance will be at $2.20.
Hedera Hashgraph (HBAR)
The Hedera Network is a public ledger that uses the hashgraph consensus instead of the blockchain. It works with extremely high efficiency. Accordingly, it allows more than 10,000 operations per second. Also, fees are as low as $0.0001. HBAR is the native altcoin asset of the Hedera network. Accordingly, it is used in maintaining the network and powering dApps. According to the latest developments, the Hedera team announced that the quarterly testnet release will start on July 28. Also, HBAR has created a slightly higher bottom (green icon) than June 18 lows. However, it still moves below a descending resistance line.
Avalanche (AVAX)
Avalanche is a Tier-1 Blockchain that functions as a decentralized platform for dApps. It is also one of the main competitors of Ethereum, capable of processing 6,500 transactions per second. AVAX has been trading inside a descending parallel channel since June 27. Such channels often contain corrective actions. However, on June 30, the price bounced off the support line of the channel and the horizontal support area of $16. Accordingly, if the altcoin is successful in the exit, the next resistance will be at $18.20. However, this month AVAX will also hold a conference. The Avalanche House conference will be held July 15 and 16 in Brooklyn. Various speakers will attend the conference, including Lydia Chiu, vice president of operations at Ava Labs.
Ergo (ERG)
Ergo aims to provide a safe and efficient way to enforce financial contracts. The project, which hosts the altcoin asset ERG, works as a protocol. ERG emissions at block height of 784,400 will be reduced from 51 to 48 ERGs per block. This block height is likely to be reached on July 2. However, ERG coin formed a double bottom formation on June 13 and 30. However, it still follows a descending resistance line. The viability of the mold will not be verified until the ergo manages to break out.
The Winkyverse (WNK)
Winkyverse aims to gather knowledge of robotics, programming, artificial intelligence, gaming, Blockchain and AI in one platform. Thus, it aims to be the first Metaverse in this field by creating an education ecosystem. The token that powers the ecosystem is WNK. The land pre-sale will begin on July 18. In addition, users will have permission to purchase 2,000 plots. WNK has been falling below a descending resistance line since March 28. However, it hit an all-time low on June 30.
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