BeInCrypto –

Unlike in June, numerous tokens rose significantly in July. Bitcoin (BTC) rose 16% while six different tokens saw a three-digit increase.

The ten altcoins that rose the most in July are:

  1. Axie Infinity (AXS) – 629%

  2. DigitalBits (XDB) – 271%

  3. Flow (FLOW) – 173%

  4. The Sandbox (SAND) – 158%

  5. Chromia (CHR) – 116%

  6. Paris Saint Germain Fan Token (PSG) – 107%

  7. Quantity (QNT) – 88%

  8. Dego Finance (DEGO) – 83%

  9. Aavegotchi (GHST) – 60%

  10. Augur (REP) – 56%

AXS
AXS has been accelerating upward since July 20th. This resulted in a new all-time high of $ 53.50 on July 27th. The token has been moving down since then.

The high was very close to the external fib retracement level of 2.61 (black) when measuring the most recent part of the rise. Hence, it is an area that is likely to peak.

In addition, the technical indicators show weaknesses. The RSI has created a bearish divergence and the stochastic oscillator has created a bearish cross (red symbol).

After all, the entire move looks like a completed five wave bullish impulse.

The next level of support is at $ 29.35. This is the previous all-time high and the 0.618 fib retracement support level (white).

Chart according to TradingView
XDB
XDB has been moving up since June 26th. On July 27, it hit $ 0.116 high and fell, leaving a long top wick in place.

The rejection was important as XDB is now trading below the horizontal resistance area of ​​$ 0.105. With the exception of one deviation on May 5th, all forays above this level left long upper wicks (red symbols).

In addition, the RSI has created bearish divergence.

The next level of support is at $ 0.06, the Fib retracement support level at 0.618 and a horizontal area of ​​support.

Chart according to TradingView
FLOW
The FLOW has increased since June 22nd. On July 6th, it broke out of a descending line of resistance. It hit a higher low on July 20 and has been rising at an accelerated rate since then.

The story goes on

On July 30th, the token started a strong upward move, hitting a high of $ 29.43. The high was reached directly at the resistance level of the 0.618 Fib retracement.

However, the higher prices could not be held and FLOW created a long upper wick (red symbol). Additionally, it has now fallen below the $ 24.50 horizontal resistance area.

Despite the fact that RSI & MACD are still bullish, the token needs to regain this level for the trend to be considered bullish.

Chart according to TradingView
SAND
SAND has been moving up since June 1st. On July 3, he managed to break out of a descending line of resistance. This eventually resulted in a high of $ 0.845 on July 24th.

However, the token took off shortly afterwards, leaving a long top wick (red symbol) in place. The decline confirmed the $ 0.78 horizontal area as resistance. The decline was also preceded by bearish divergences in the RSI and Stochastic oscillator. The latter has now formed a bearish cross.

The next level of support is at $ 0.040.

Chart according to TradingView
CHR
The CHR has risen since May 23rd. It broke out of an ascending parallel channel on July 22nd and hit a high of $ 0.41 three days later.

It’s since gone down, possibly coming back to validate the channel as support.

Technical indicators are still bullish as the RSI is above 50 and the MACD is positive. In addition, the stochastic oscillator did not form a bearish cross.

The main resistance area is at $ 0.46.

Chart according to TradingView
PSG
PSG has risen since hitting a low on June 22nd. The upside continued to hit a high of $ 28 on July 27th. The high was hit right at the 0.5 fib retracement resistance level when the total downward move was measured. Shortly thereafter, the token formed a double-top pattern and began to decline.

The double top was combined with a bearish divergence in RSI and MACD.

Should a downward move follow, the next support level would be at $ 21.50.

Chart according to TradingView
QNT
QNT has struggled to move above the USD 96 resistance area since June 25. It broke out on July 28 and hit an all-time high of $ 145 the next day.

The high was hit very close to the external Fib retracement of 1.61 at $ 125. If the token manages to close above this level, the next resistance would be at $ 169, the external fib retracement at 2.61.

The previous resistance area of ​​USD 96 should now serve as support.

Chart according to TradingView
DEGO
DEGO has been moving up since July 20th. On July 25th, it broke out of a descending line of resistance.

It then confirmed the $ 7.80 line and area as support (green symbol), then hit a high of $ 11.45 on July 28th.

It is currently decreasing and may aim to re-validate the $ 7.80 area.

The next area of ​​resistance is at $ 12.60.

Chart according to TradingView
GHST
GHST has been accelerating upward since July 29th. On July 29, it hit a high of $ 1,946.

However, the higher prices could not be held and the token produced a long upper wick (red symbol). This effectively created a triple top pattern.

GHST has since fallen below the $ 1.75 horizontal resistance area.

However, the technical indicators are still bullish.

The next areas of support are between $ 1.31 and $ 1.43, the 0.5-0.618 fib retracement support levels.

Chart according to TradingView
REP
REP has been moving up since June 22nd. On July 24th, it broke out of a descending line of resistance that had previously existed since April 10th. This resulted in a high of $ 36.51 the next day.

However, REP was rejected from the 0.5 fib retracement resistance level and has been moving down since then.

It is currently attempting to validate the resistance level and the USD 23.50 area as support before potentially initiating further upward movement.

Despite the bearish cross in the stochastic oscillator, the MACD and RSI are still bearish.

Chart according to TradingView

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