July has the potential to become a crucial month for the altcoin market. Although the dominance ratio of Bitcoin (BTC.D) is currently increasing, there is a possibility that altcoins will experience significant growth in July.
STACKS (STX)
The price of STX has experienced a significant increase since the beginning of the year. The upward movement resembles a completed five-wave uptrend (in black). If that’s the case, it would mean that the price of STX has started a new trend reversal.
After reaching a new yearly high of $1.31 on March 20th, the price of STX underwent a correction for 82 days, leading to a low of $0.44 on June 10th. It then quickly rebounded, reclaiming the $0.55 area in the process.
Therefore, the price of STX may have started a new five-wave uptrend.
Despite the prospects of an upward trend, if the price of STX fails to surpass the $0.87 level, it could potentially decline back to the $0.55 area once again.
INJECTIVE (INJ)
The price of INJ has experienced a significant increase since the beginning of the year. This upward movement can be compared to a five-wave pattern (in black).
If the statistical data is accurate, the price of INJ is expected to complete the third wave near the $14 level, which acts as a significant horizontal resistance. Although this level is lower than the previous all-time high, it represents the final hurdle before reaching a new all-time high.
If the price surpasses the $14 resistance level, it could potentially reach a new peak. This would align with the completion of the fifth wave.
If the price drops below the high point of the first sub-wave (represented by the red line) at $4.58, INJ could potentially decline to around $3.0.
APTOS (APT)
The price of APT has declined below the descending resistance line over the past 154 days. Therefore, the trend is considered bearish until a breakout occurs. Furthermore, the price decline has brought APT below the previous horizontal support level at $8, which had previously acted as a support zone.
If APT price surges, the only resistance level before the all-time high would be $13.50. The absence of overhead resistance would allow for a quick recovery if a breakout occurs.
However, if APT is rejected, it could potentially decline to the next nearest support level at $4.0.
see more : Litecoin Price Prediction 30/6: Is the target of $130 feasible?