While some altcoins like Monero, FTX Token and Lisk may be in for a downward breakout during this recovery phase, coins like Bitcoin Gold, Tezos and Qtum are all gearing up for a bullish ride aiming at newer highs.
Bitcoin Gold
Source: Bitcoin Gold/USD, TradingView
After the 44% fall on March 12, the coin recovered by 51% in just a week and has maintained support at $6.80. Awesome oscillator indicator which rests at 0.001, also hints at an upward breakout.
Resistance: $8.2, $9.61
Support: $6.80, $5.97, $5.42
At press time:
Price: $7.46
Market Cap: $128,261,303
24-hour Trading Volume: $14,799,025
Qtum
Source: Qtum/USD, TradingView
Qtum that had been trending upward since mid-December, till mid-February. The price started a downward run and recorded a 47% drop following the market crash on March 12. Interestingly, the coin started an upward trend in just two days post the fall. Formation of an ascending triangle was seen, which indicates an upward breakout. Stoch RSI indicator which rests above 80, indicates an ‘overbought’ situation.
Resistance: $1.40, $1.53, $2.09, $3.02
Support: $1.04
At press time
Price: $1.33
Market Cap: $122,723,079
24-hour Trading Volume: $340,608,692
Tezos
Source: Tezos/ USD, TradingView
Tezos is one of those cryptocurrencies that has been doing well lately. After the 58% drop on March 12, the coin recorded a 65.21% rise in just a week and has been stable since then. It has maintained constant support at $1.44; the coin at the moment breached the $1.44 level and found support at $1.52. The price fluctuations form an ascending triangle pattern which signals an upward breakout. Additionally, CMF indicator which rests at 0.06 confirmed the upward breakout.
Resistance: $1.85, $2.73
Support: $1.52, $1.44, $1.22
At press time
Price: $1,70
Market Cap: $1,195,051,698
24-hour Trading Volume: $72,608,846
