Which cryptos are looking the best heading into February? Covered: Aragon (ANT), Kyber Network (KNC), The Sandbox (SAND) Key Technical Levels & Indicators Used This Week’s Three Cryptos to Keep an Eye on We’re heading into February – a bullish month according to seasonality statistics. With the crypto market having a relief rally, we will […] The post Three Altcoins to Keep an Eye on the Week of January 31. appeared first on CryptosRus.

Three Altcoins to Keep an Eye on the Week of January 31.

Which cryptos are looking the best heading into February?

Covered:

  • Aragon (ANT), Kyber Network (KNC), The Sandbox (SAND)
  • Key Technical Levels & Indicators Used

This Week’s Three Cryptos to Keep an Eye on

We’re heading into February – a bullish month according to seasonality statistics.

With the crypto market having a relief rally, we will look at three altcoins that are likely to continue outperforming the market.  

 

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ANT: Daily



After the sharp pullback in January 2022, ANT is bouncing off from the psychological price point of $4 and nearing 21EMA (Cyan). 

The price dipped below 200SMA (Purple), but it quickly reclaimed its footing above it, and now it’s also trying to reverse its daily downtrend. 

$5 offers a strong support level as its 200SMA, and Point-of-Control coincide here. 

There is a symmetry projection support line at 4.61 which also is a good support level. \

The symmetry projection support line was done by measuring the drop from high to bottom in May 2021 and projected it at the top of high in Jan 2022. 

The momentum oscillator shows that its fast momentum line (Yellow) is going up, with the slow momentum line (Red) also curling up. They are still below the midline, but their direction is pointing up, suggesting that momentum is likely to continue to the upside. 

The squeeze indicator shows no squeeze, and the momentum is rising. 

This crypto is looking to form a very wide trading zone, ranging from 4.5 to 14.

We will keep an eye on this crypto to see if it will keep trading with a lot of volatility or start consolidating in a tighter range.

 

KNC: Daily

We covered Kyber Network (KNC) a couple of weeks ago as it looked much better than the entire crypto market, and this trend continues.

It is one of few cryptos riding the daily uptrend, and now the price has busted through a strong resistance level of 200SMA (purple) + trendline resistance. 

Anything can happen, and it could dip below 200SMA again, but the momentum suggests otherwise. 

The momentum oscillator shows the fast momentum line is above the slow momentum line and the overall structure of the momentum is solid to the upside.

The squeeze indicator shows a medium-compression squeeze that fired long, and a low-compression squeeze could also fire in the near future. 

This could result in a parabolic move from the daily perspective but expect some resistance around 2.4 as KNC topped three times around this level previously. 

Still, we think this crypto has a lot of upside potential. 

 

SAND: Daily

The sandbox (SAND) is a metaverse crypto that shot up in October of 2021 following Facebook’s announcement to rebrand the company’s name to Meta. 

This crypto is also pulling up from its daily 200SMA, coinciding with its POC. 
I didn’t hit 200SMA but was very close to hitting it. 

A cluster of technical levels often makes strong support or resistance. 

It is testing its daily 21EMA for the first time since it bounced off 200SMA, and this could be met with some resistance here. 

The momentum oscillator shows that momentum is turning up as the fast momentum line sliced through the slow momentum line, and now it’s about to cross the midline to the upper (Bullish zone).

It does have some overhead resistance levels, but it is a crypto that is moving ahead of other cryptos that haven’t yet tested their daily 21EMA. 

The squeeze indicator shows no squeeze with rising momentum. 

Even though ANT and SAND need more time to turn their trend around to bullish, they are leading the crypto market, testing their 21EMA ahead of most cryptos.

As for KNC, it is an outperformer whose daily trend is in an uptrend. 

We’re heading into February, and we’ll continue keeping our eye on these cryptos for their followthrough. 

 

Key Technical Levels

ANT

Support: 5.19

Support:5.7

Resistance: Daily 21EMA

Resistance: 8.18

Resistance: 8.5

Resistance: 10

 

KNC

Support:1.427

Support:1.498

Support: 1.574

Resistance: 1.80

Resistance: 1.98

Resistance: 2.10

Resistance: 2.29

 

SAND

Support Zone: 2.7 – 2.9

Support:3.5

Resistance Zone: 4.76 – 5.33

Resistance: 5.78

Resistance: 6.49

Resistance: 6.95

 

Indicator Used: (Click Here)

  • Not Financial Advice

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The post Three Altcoins to Keep an Eye on the Week of January 31. appeared first on CryptosRus.