This year, Solana (SOL) is at the top of the redboard, losing 80% of its value in just one week as FTX went bankrupt. However, some altcoins manage to stay alive with sudden price movements. In this article, let’s take a look at the altcoin projects that have gained the most since last week.
Altcoin projects that gained the most value during the week of 23 – 30 December
BIT price has been falling below a descending resistance line since August 5. The downside move ended on November 28 at $0.26. After some consolidation, it broke the resistance line on December 29. Then it reached $0.38 in a short time. After a slight decline, it is currently in the process of reclaiming the $0.33 horizontal resistance area.
If it succeeds, the next level of resistance could be $0.45, according to technical analyst Valdrin Tahiri. The failure to do so, on the other hand, marks new lows for the BIT price.
Exchange token OKB recovers
OKB price has been rising since June 2022. Initially, it struggled to climb above the $22.50 resistance area. Three unsuccessful attempts to break in here (red icon). However, OKB price finally climbed above it on December 22nd and accelerated its rate of increase.
If the upside continues, the next closest resistance is at $32.50. On the other hand, a daily close below the $22.50 zone will mark the end of the upward move.
Internet Computer (ICP)
ICP price has been breaking below a descending resistance line since July 31. With this momentum, it fell to $3.35 on December 19th. However, the ICP price then bounced off and broke out of the line on Dec. Despite selling, it is facing critical resistance at $5. As a result, we cannot consider it bullish until the trend regains this level. Failure to do so could result in all-time lows.
LUNC failed to break critical resistance
LUNC price started to move upwards on December 16. Created a long bottom wick (green icon). The increase peaked at $0.00018 on December 27. However, the price failed to climb above the $0.000185 resistance area and was instead rejected.
LUNC price is currently close to the $0.000135 support area. A break below it will lead to an all-time low. On the other hand, a break above the $0.000185 resistance area means the trend is up.
LDO price broke out of a descending resistance line on October 17. However, the upward movement could not be sustained. The LDO price plummeted shortly afterward. On November 9, he confirmed the line as support (green circle). It is currently in the process of falling from the horizontal support area of $0.90. A break from here could lead to lows near $0.63. Also, a possible bounce from altcoin bulls is likely to trigger $1.25.
cryptocoin.com In the meantime, we have included what Bitcoin is doing in this article. In general, the losses in the altcoin market exceed 90%.
