What a difference a couple of weeks can make. After sharp corrections, we’re seeing more altcoins recovering, pushing against or even breaking through important resistance levels.
Not all of them are necessarily making new ATHs, although there plenty of those as well (ETH, SOL, CAKE, HT, COMP, MATIC, LEO, FTM, IOTX, INJ, TEL…), but coins that are simply breaking through resistance.
We feature some of these breakouts in our Curated Charts. Notice the recent breakouts (LTC, XTZ, XLM, XMR, EOS) but also coins that are pressing against their resistance (CRO, ALGO, KSM, TRX, NEO).
You can find curated charts here (select Curated Charts tab).
Typically, resistance breakouts result in further gains to the next resistance zone. Not always, of course, but often enough (~70% of time) to make it one of the most attractive trading strategies.
Wanna be early? If you wanna catch breakouts early, check our curated charts and create simple price alerts for resistance levels or MACD crossovers.
Example: Crypto.com (CRO) price is near a $0.20 resistance level and momentum is inflecting (MACD Histogram bars are rising again). Here we’d recommend that you create a price alert for $0.20 level.
Check our unique automated chart pattern recognition for fresh trading ideas. Also, during market corrections, it’s always good to revisit coins in an Uptrend but with a pullback. Our Signals Summary has this and other pre-defined filters ready for action.
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.