Curve DAO Token (CRV) Bounces Off Key Support – 7 Altcoins With Most Gains Of The Week

This week, Bitcoin Magazine takes a look at the price action of the seven cryptocurrencies with the biggest upside potential for the week, January 28-February 4, 2022 – with Curve DAO Token (CRV) emerging from the critical level.

These cryptocurrencies are:

• Tezos (XTZ): 32.61%
• Manufacturer (MKR): 27.70%
• NEO (NEO): 20.85%
• Decentralized (MANA) : 19.10%
• IOTA (IOTA): 18.11%
• Hedera Hashgraph (HBAR): 17.81%
• Curve DAO Token (CRV): 16.08%

CRV

Since January 4th, Curve Dao Token (CRV) has been falling since hitting an all-time high of $6.80. The move down led to a low of $2.36 on Jan. 24, where the token rebounded at the time (green icon), confirming the $2.60 horizontal zone as support.

Despite this increase, the CRV is still 53.50% below its all-time high.

The next area of ​​resistance is at $4.07. This is the 0.382 Fib retracement resistance and horizontal resistance area.

Daily CRV/USDT Chart | Source: TradingView

XTZ

XTZ has been falling along with a descending resistance line since October 4th. This downward move resulted in a low of $2.53 on Jan. 24.

Since February 3, the token has been in an uptrend and after rising, it reaches the descending resistance line. This line also coincides with the $3.85 horizontal resistance area.

If XTZ can break out, it will confirm that the correction is complete and likely lead to an uptrend towards the next resistance area at $5.85.

Daily XTZ/USDT Chart | Source: TradingView

MKR

Similar to XTZ, MKR has been trading along a descending resistance line since hitting an all-time high on May 3rd, which led to a low of $1,620 on Jan. 22nd.

The token has since risen and is currently making a third breakout attempt which, if successful, could result in an upward move towards $4,020 – 0.5 Fib retracement resistance and horizontal zone resistance.

It is possible that MKR has completed its long-term correction.

Daily MKR/USDT chart | Source: TradingView

ANCHOR

Since September 6th, NEO has been trading within a descending wedge that went as low as $16.11 on January 24th. The next bounce (green icon) serves to confirm the wedge’s support line.

NEO has since risen and is slowly moving towards the wedge resistance line found at $34.

NEO/USDT daily chart | Source: TradingView

MANA

Since November 25, MANA has been declining along with a descending resistance line where it hit an all-time high of $5.91.

The downtrend continued until it dropped as low as $1.70 on January 22nd.

The token has since recovered and broke above the descending resistance line on February 1st, only to confirm it as support (green icon) two days later. Since then, prices have gone up.

The next resistance is $3.80 created by the 0.5 Fib retracement resistance level.

Daily MANA/USDT chart | Source: TradingView

IOTA

Since September 4th, IOTA has been falling along with a descending resistance line. Recently, on December 29th, the token was rejected from this line and fell faster.

On January 20th, IOTA broke below the $1.05 horizontal support area and continued to hit a low of $0.69 on January 24th.

As it rebounds after that, the $1.05 zone is expected to act as resistance.

Until the token breaks above it, the trend cannot be considered bullish.

IOTA/USDT daily chart | Source: TradingView

HBAR

Since September 16, HBAR has been descending in a descending wedge. The move down led to a low of $16.89 on Jan. 24, which reconfirmed the wedge support line.

HBAR has since risen and is now very close to the wedge’s resistance.

Since the wedge is considered a bullish pattern, the probability of a breakout is very high. In this case, the next resistance is at $0.33. This is both a horizontal resistance level and a Fib level.

Daily HBAR/USDT chart | Source: TradingView

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to beincrypto

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