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 usually results in the downside. Additionally, the daily RSI moves freely above and below 50. This is a sign of an uncertain 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 direction 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, it could not sustain its upward movement and returned to the support area once again on 8 November. The ensuing bounce (green) confirmed both the resistance line and the $1.25 horizontal support area. The upward move is in contrast to the rest of the crypto market, which has sunk into a significant 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. Conversely, a drop below the November low of $1.18 (red) will invalidate the bullish price prediction.
CHSB retakes $0.22 zone
The CHSB has been moving upwards since June 15. It recorded a higher low (HL) in mid-September and then accelerated its pace of growth. This breakout hit a local top of $0.34 on Nov. Later, during the crash from November 7-10, CHSB price bounced back to the $0.22 area. It then confirmed this level as support (green). As long as it trades above this, the bulls will take the stage for a while. However, a break below the area will likely take it to the ascending 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 break even though the price has not broken below the May low. Therefore, a breakdown from it will be the most likely scenario. If one of them materializes, 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.
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