Altcoins Outside Top 100 KAVA, DAO, LQTY, XRPY, BONE Ranked Top 5
- KAVA’s price in a descending channel; a breakout is expected for $1.06 or $0.70.
- DAO’s price reached $1.90 but was rejected at 0.618 Fib level, potential reversal to $1.35.
- LQTY’s price trading below descending resistance line, with support at $1.70, and resistance at $2.08.
Since the current bear market has negatively impacted the performance of many altcoins in the top 100, this analysis focuses on lesser-known coins outside of this category. Recently, several altcoins have gained attention in the cryptocurrency market including Kava.io (KAVA) which has seen a price increase of 9.76%.
KAVA’s price has been in a descending channel since January 19, indicating a corrective movement. A breakout from this channel is expected and the current position of the price in the upper portion of the channel increases the chances of this happening. If there is a breakout, the price could go up to $1.06. Conversely, if there is a rejection, the price could drop to the channel’s support line at $0.70.
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