Be In Crypto Let’s take a look at the five projects that beat the crypto market last week, and more specifically between November 4th and November 11th.
These digital assets have captured the attention of crypto news and crypto markets.
- Constitution DAO (PEOPLE) price increases by 27.30%
- dYdX (DYDX) price increased by 12.51%
- Swissborg (CHSB) price increased by 6.36%
- Aragon (ANT) price up 6.30%
- BinaryX (BNX) price increased by 1.66%
PEOPLE Leads Crypto Market Rally
PEOPLE has been decreasing inside the symmetrical triangle since May 6th. A symmetrical triangle is considered a neutral pattern, meaning there are breakouts and possible breakouts.
Additionally, the daily RSI is free-floating above and below 50. This is an unsettled trend sign and is even more consistent with the presence of a triangle.
Therefore, whether the ConstitutionDAO price breaks out of the triangle or moves down may determine the direction of the future trend.
DYDX Surpasses Annual Lows
On October 27th, DYDX broke through the falling resistance line that had existed since August 1st, but could not withstand the rise and returned to the support area again on November 8th.
The subsequent bounce (green icon) tested both the resistance line and the horizontal support area at $1.25. The uptrend contrasts with other cryptocurrency markets that have fallen sharply.
Currently, DYDX price is breaking out of the 0.5 Fib retracement resistance area of $1.96. If successful, the next resistance is at $2.50.
Conversely, a break below the November low of $1.18 (red line) invalidates our bullish price forecast.
CHSB Recovers $0.22 Area
CHSB has been on an upward trend since June 15th. IT hit new lows in mid-September and then accelerated its rally. This breakout sent him to a high of $0.34 on November 7th.
Then, during the crypto market selloff of November 7-10, CHSB price returned to the $0.22 territory and validated as support (green icon). As long as it is trading above it, the trend can be considered bullish.
However, below this area, the SwissBorg is likely to reach the rising support at $0.18.
ANT integrated into modified pattern
ANT price has been rising within a parallel channel rising since the beginning of May. Although the price has not broken below the May lows, the rising parallel channel is considered a bearish pattern. So failure from there is the most likely scenario. In that case, the price could fall to a year-to-date low of $1.22.
Aragon’s price is currently trying to move above the middle of the channel (red circle). If it succeeds and breaks out of the channel (red line), this bearish price forecast will be invalidated.
BNX May Collapse Alongside Bearish Crypto Market
Similar to ANT, BNX is also trading within an ascending parallel channel. Rejected in the middle of the channel (circled in red) on October 13th and November 11th. This is a bearish sign suggesting that a breakdown is the most likely scenario.
If one occurs, the nearest support area is $95.10, created by the 0.5 Fib retracement support level and the horizontal support area.
On the other hand, a breakout from the channel invalidates the bearish price forecast.
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