Technical Analysis: LINK, HIVE, DOT, BAT, FLUX and APT (Mar. W1)
Trading Analysis

Technical Analysis: LINK, HIVE, DOT, BAT, FLUX and APT (Mar. W1)

After getting rejected by the resistance at $25k, BTC faced a sharp fall to $22k. What impact did it have on web3 coins?

Technical Analysis: LINK, HIVE, DOT, BAT, FLUX and APT (Mar. W1)

Table of Contents

Bitcoin was rejected by the resistance at $25,000 which led to the price falling to $22,000.Keeping the current situation in mind, let’s see how the Web 3.0 coins reacted during the fall!


In our previous analysis, we had marked a strong resistance at $8 as seen in the chart above. LINK reversed from the resistance and plummeted to $7 after the rejection.
A chance for the continuation of the bullish trend can only be seen once the price is able to flip the resistance at $8. Thus traders should wait for the resistance to be flipped before expecting any strong moves. Once the resistance is crossed, a clear path to the next supply zone at $9.65 can be seen. However, if the price gets rejected again, we may see it fall back to $6.7.

Also Read: Breakout vs Fakeout (False Breakout)


HIVE surged by over 25% to $0.58 on Friday after a huge volume spurt was seen. However, the bears were quick to return and formed a wick as can be seen above. HIVE is now once again trading near the support at $0.45 which is a strong support zone.

Also Read: What Are Ranges in Trading and How to Use Them


DOT has almost perfectly followed the path that we had anticipated in last week's analysis. We had expected the price to rally to the resistance at $7.8 which is exactly what can be seen in the chart above. There was a reversal from the resistance which led to the price plunging to $6.4.

A support can be seen at $6 which could be the zone of reversal for DOT this week.


BAT is on the verge of breaking the supporting trendline, which is why traders should maintain caution this week. A double bottom pattern can be seen, which is hinting towards a reversal from the zone of support. If a reversal happens, traders can expect the price to approach the resistance at $0.34. However, if the support is broken, expect the price to plunge to the next support at $0.27.

Also Read: What Is an OCO Order (One-Cancels-the-Other)


FLUX is still trading under the resisting trendline mentioned in last week’s analysis. Until the trendline is broken, no major moves can be expected. Once a breakout is seen, a strong move to $0.95 is probable - however, traders should hold until a clear breakout occurs.


APT fell to $11 this week - however, a strong reversal from the support was seen, pointing towards a change in trend.
The price could start rising towards last week’s high at $15 in the coming week after bouncing off the support level.

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A quick recap of all the coins:

  • LINK is trading sideways.
  • HIVE rallied strongly last week.
  • DOT has fallen significantly.
  • BAT formed a double bottom.
  • FLUX is about to break the trendline.
  • APT is close to the support level.

Remember that this is all based on the subjective views of the writer. As always, DYOR!

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