The editors of BeInCrypto have compiled a top list of altcoins that showed the maximum increase for the week from January 6 to January 12
In addition to GALA and Lido, the list of these altcoins includes:
- Gala (GALA) +126.54%
- Aptos (APT) +68.68%
- Lido DAO (LDO) +58.67%
- Ziliqa (ZIL) +39.45%
- Optimism (OP) +36.59%
GALA at the forefront of successful altcoins
According to the results of technical analysis, the GALA rate has been declining since the beginning of May, moving along the line of descending resistance. As a result, on December 30, the market formed a low of $0.015. After that, the price went up.
On Jan. 9, GALA peaked at $0.05 but bounced off the descending resistance line and the $0.05 resistance area (red icon). Then the coin began to decline.
The further direction of the trend will depend on whether the market manages to make a bullish breakout of this resistance zone.. If successful, the coin could reach highs around $0.070. Meanwhile, a failure could prompt a retest of the $0.027 support area.
Source: TradingView APT breaks resistance
Aptos APT blockchain token broke through the descending resistance line on January 8. After that, the price accelerated its growth rate and broke through the $5.20 resistance area.. On January 12, the market turned this area into support (green icon). If the uptrend continues, the next resistance will come into play at $8.
On the other hand, a close below $5.20 could lead to a sharp drop and a retest of the $3.50 level.
Source: TradingView LDO is trading in an important range
We recently reported that Lido (LDO) coin led the token rally of liquid staking platforms. As a reminder, Lido has been the most popular staking solution for a long time.
Earlier, the BeInCrypto editors published detailed instructions on how to stake Ethereum on Lido
On November 9, the LDO rate tested the descending resistance line that had been broken from the bottom up. The market also tested the $0.92 area as support (green icon). On December 22, the price rebounded from this level again, forming a double bottom.
After that, LDO rose and broke through the $1.73 resistance area in the process.. This happened on January 8, and four days later, the coin tested this area for strength as a support.
Now trading is in the range between $1.73 and the Fibo level of 0.618 correction at $2.26. The further direction of the trend may depend on which of these levels will be broken first.. A bullish break could send Lido up towards $3.10, while a bearish break could send Lido down towards $0.90.
Source: TradingView ZIL Hits Important Resistance
The ZIL rate has been growing since December 30. On January 9, the price hit a high of $0.027. However, it failed to break through the descending resistance line, which has been present on the chart since May.. Coin rebounded from here and formed a long top wick (red icon). Now ZIL is trying to attack this barrier again.
In the event of a successful breakout, the market will face key resistance at $0.032. Previously, this area for a long time acted as a support. Therefore, its bullish breakdown is necessary in order for the trend to begin to be considered bullish.
Meanwhile, a rebound from this line may cause a fall in the direction of the 0.618 Fibo level of correction at $0.020.
Source: TradingView OP up 65% in 15 days
Rounding out this week’s top altcoin list is the Optimism OP project coin, which is a second-tier Ethereum solution.. The price has been growing along the ascending support line since October 20. On December 29, the market bounced off this line and launched a bull run.. Since then, the OP price has risen by 65%.
Now it is trying to break above the $1.44 horizontal resistance area.. If he succeeds, the next resistance will come into play at $2.. If there is a rebound, then the price may fall in the direction of the ascending support line by $1.
Source: Trading View
Earlier, the editors of BeInCrypto discussed whether the recent sharp rise in the price of Bitcoin (BTC) can be considered the beginning of a bullish trend.
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