Briefly –
- AXS rallied to its ATH on 10 July.
- STX, FLOW, and KCS broke out.
- SNX completes a 4th wave pullback.
Here are the best alternative coins that saw massive gains since last week. Will they keep the momentum?
- Axie Infinity (AXS): 116.54%
- KuCoin Token (KCS): 81.78%
- Flow (FLOW): 74.58%
- Stacks (STX): 57.46%
- Synthetix (SNX): 46.99%
Let us find out what some of the assets had.
AXS
AXS has been trading in a descending resistance level since 29 April. The altcoin launched three attempts to break out but failed before rallying over the zone on 15 June. AXS returned to authorize the level on 23 June and accelerated upwards since then. In around 18 days, the altcoin magnified its value by 585%, claiming its record high of $19.60 on 10 July. However, AXS indicates weakness signs regardless of the massive gains. As much as the coin registered higher highs, both the MACD and RSI show bearish divergences. Moreover, all highs incorporate longer upper wicks. With any correction, AXS will rely on the $9.20 to $11.20 zone as support. Remember, this is the 0.5 to 0.618 Fibonacci retracement support zone.
KCS
KCS has followed a downward resistance line from 10 April. On 3 July, the crypto broke out, climbing to a $14.85 high, slightly over the 0.618 Fibonacci retracements at $14. KCS plummeted after that, dropping to $10.40 lows on 8 July. However, it bounced back shortly after forming a longer lower wick. Technical indicators show an uptrend with increased bullish sentiments. The RSI hovers over 70, and MACD is positive. Moreover, the stochastic oscillator was on a bullish cross. If the asset succeeds in reclaiming the $14 zone, it might surge to its ATH at $20.
FLOW
FLOW has had upsurges since dipping to a $6 low on 22 June. It managed to break its descending resistance zone that embodied the coin from 5 April to 6 July. On 11 July, FLOW managed to claim a high of around $20.28. Daily timeframe technical indicators denote bullishness. The stochastic oscillator crossed the bullish line, MACD is almost positive-RSI remains over 70. $25.30 acts as the vital resistance level. Any breakout over this resistance would affirm a bullish run.
