We take a look at the 7 most profitable altcoin projects of the week of 31 December – 7 January. In the list, you can find brief price histories of altcoins and technical analysis by analyst Valdrin Tahiri. Let’s start with the green board leader of the week, Cosmos (ATOM).
- Cosmos (ATOM): 39%. 10
- Harmony (ONE): 34%. 76
- Phantom (FTM): 24%. 49
- Chainlink (LINK): 22%. 06
- Ravencoin (RVN): 19%. 71
- Internet Computer (ICP): 12%. 45
- Yearn. Finance (YFI): 8%. 26
Here are the green board leaders of the week
ATOM broke out of a descending resistance line on January 4th. After the slight decline, it continued its upward move and is attempting to break out of the $44.5 resistance area. If it can break through this area, the next closest area of resistance is $59.77.
Similar to ATOM, ONE broke out of a descending resistance line on Jan. He returned two days later to confirm this as support (green icon below) and then started another upward move. After the $0.32 horizontal resistance area, the ATH level of $0.38 could be targeted.
FTM broke out of a descending resistance line on Jan. It later dropped and confirmed the $2.6 area as support (green icon). If the upside continues and FTM reaches ATH price, $4.90 could be the next level of resistance.
LINK has been falling since November 10 (red icon) when an ascending parallel channel confirmed the resistance line. Currently, LINK is trading very close to the middle of the pattern. According to the analyst, the middle line of the lower channel will be decisive in the direction of the trend.
On January 4, the RVN broke out of a descending resistance line that had been present since August 11. The main resistance area is $0.156 created by the August highs. A move above this level can greatly accelerate the rate of increase.
Altcoin ICP poised to breakout from strong support
In December (green circle), ICP allegedly broke out of the horizontal support area of $29.50. The area has been in place since July. According to the analyst, the closest resistances in the possible rally are between $46.5 – $54.2.
Similar to ICP, YFI broke out of the horizontal support area of $27,500 on Dec. However, it started an upward move and reclaimed the area on December 17. It is currently trading between $27,500-$42,300. Cryptocoin. com, according to Valdrin Tahiri, whose analysis we shared, a move above the resistance area can accelerate the upward momentum.