The list of these altcoins includes:
- Pepe (PEPE) +71.44%
- Stacks (STX) +46.11%
- Conflux (CFX) +40.13%
- Bitcoin Cash (BCH) +35.80%
- WOO Network (WOO) +25.01%
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Pepe (PEPE) at the forefront of successful altcoins
As the results of technical analysis show, memcoin price has been declining since May 11, moving under the descending resistance line. This drop led to a low of $0.0000008 on June 13. Since then, however, the price has risen and on June 21 broke through the downward resistance line. This is a sign that the correction is over.
After this bullish breakout, the token hit a high of $0.0000015. Now PEPE is trying to overcome the Fibo 0.5 retracement resistance at $0.0000015.
Source: TradingView
If successful, PEPE could head towards the next resistance at $0.0000021. However, in the event of a rebound, a fall will become possible, confirming the $0.0000011 level as resistance.
The level of $0.0000011 as resistance will be possible.
Stacks (STX) rebounded after falling
– A first-tier blockchain solution, it adapts smart contracts and decentralized applications (dApps) to the bitcoin (BTC) network, importing them with full functionality.
The STX price fell sharply after hitting a high of $1.31 on March 20. The decline was swift and pushed the token to a low of $0.44 (June 10). After that, the price bounced back and has been rising ever since. Growth led to a recovery above the $0.55 area and confirmed it as support. On June 22, the STX hit a high of $0.88.
Wave analysis confirms continued upside. Since November 2022, the STX price has completed a five-wave bullish structure.. The ensuing 82-day decline looks like a completed correction.
The following 82-day drop looks like a completed correction.
If that is the case, STX has now started a new upward move that will take the market to at least $1.40.
Source: TradingView
In the meantime, a drop below $0.44 would mean that the trend is still bearish. In that case, STX is likely to drop to $0.25.
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Conflux (CFX) could break out of a corrective pattern
This is a Tier 1 blockchain, created as a competitor to Ethereum with active government support from China.. In February, the project entered into a partnership with state-owned telecom heavyweight China Telecom to develop and produce sim cards that support blockchain.
The CFX price has been declining inside a descending parallel channel since March 19. Such a channel is considered a corrective pattern, that is, in most cases it ends in a bullish breakout.
<On June 10, the price rebounded from the support line of the channel and started an upward movement.. It is currently trading just above the center line of the channel, which could bode well for the market's bullish breakout.
Source: TradingView
If that does happen, the nearest resistance level will come into play at $0.44. However, if the price rebounds from the channel resistance line, it may fall to the nearest support at $0.14.
Bitcoin Cash (BCH) completes a correction
The price of (BCH) fell to a low of $90.3 on June 10, but then rose. The rise was swift, a long lower wick formed on the same day, and on June 21 there was a bounce from the downside resistance line.
In addition, the move looks like a completed five-wave bullish structure, followed by an A-B-C correction.
More importantly, the move from November 2022 looks like a completed five-wave bullish structure and the subsequent A-B-C correction. This suggests that the price has started a new upward movement, which will lead it to a new yearly high.
This suggests that the price has started a new upward movement, which will lead it to a new yearly high.
Source: TradingView
If the rally continues, BCH could move to the next resistance at $190. However, if the BCH fails to close above $140, it may fall to the next closest support at $115.
If the BCH fails to close above $140, it may fall to the next closest support at $115.
WOO Network (WOO) closes the top list of altcoins
Topping the list of this week’s most successful altcoins is token. Since the end of November 2022, it has been rising along the uptrending support line. This line has been tested many times. Most recently, on June 14, the price reaffirmed it as support and it bounced back (green sign).
This bounce marked the beginning of the current strengthening.
Source: TradingView
The WOO is currently making a bullish breakout of the short-term downside resistance line. If successful, it might start the rally to $0.32.
However, in the case of a bounce, WOO might fall back to the upside support line at $0.17.
In the last month, the editorial office of WOO Trading was at the time of writing.
A month ago, BeInCrypto’s editorial board told us that decentralized exchange WOO X had been caught up in a business model similar to the failed FTX exchange and hedge fund Alameda Research.
The WOO X exchange has been the latest in a number of recent reports.