As the level of bitcoin dominance declines, several altcoins immediately accelerated the rise. Below we will analyze five tokens and try to determine their potential for further growth.
Dusk Network (DUSK)
On May 24, DUSK began its ascent, breaking through the resistance zone of 260 Satoshi at impressive trading volumes and peaking at around 352 Satoshi. Since then, the token has been declining, but has not yet lost the support, which previously acted as a resistance.
In the short-term charts, it can be seen that the price follows the line of upward support and is located inside the figure of the downward wedge. The projection of the base of the wedge will coincide with the line of upward support near 265 Satoshi, where quotes can resume growth, which began on May 24.
Ethereum Classic (ETC)
On May 24, the ETC broke the downtrend line of January 2019. Then the price confirmed the status of the support line, which often happens after bullish breakouts.
However, the coin has yet to win support in the area of 75,000 Satoshi. Until this happens, the dynamics cannot be considered upward.
If altcoin is held above this level, we can expect a rise in the direction of 85000 and then, possibly, 100000 satoshi.
LTO Network (LTO)
On May 25, LTO broke through the 450 Satoshi level, which turned into resistance. The coin has been trading above this mark since February this year, but in early May violated its integrity. A recent return above this area confirms that the bearish break was false and quotes will continue to rise.
However, in the short-term charts, it is clear that the coin has already broken the line of upward support, which became resistance, and also formed a long upper wick on the candle chart. Moreover, the RSI does not give bullish divergence signals, which means that a reversal is not yet expected.
Thus, the long-term chart suggests a continued rise in LTO, and in the short term there are no signs of a reversal.
