Top 3 noteworthy "Made In China" Altcoins in the third week of July

With Bitcoin holding around $120,000 and Ethereum stabilizing near $3,000, the growth momentum has spread to Chinese altcoins.

The "Made in China" crypto index has increased by nearly 1% in the past 24 hours, with top-performing altcoins such as VeChain, Conflux, and Qtum recording strong growth and changes in key indicators on the weekly timeframe.

Next, let's take a look at their trends in the third week of July with Bitcoin Magazine.

VeChain (VET)

VeChain, a blockchain platform known for its supply chain traceability and enterprise use cases, is showing signs of a reversal after a week of strong growth.

Currently trading around $0.024, VET – the "made in China" altcoin from VeChain, is still down nearly 91% from its ATH at $0.282, but it seems that buyers are getting involved.

In the past week, VET has increased by 21.5% and is currently facing immediate resistance at $0.02629. Successfully breaking above this level could pave the way to $0.02769, a level where previous bullish attempts have struggled.

However, the more interesting aspect lies in the divergence forming on the chart.

VET Price Analysis | Source: TradingViewThe Relative Strength Index (RSI) is creating higher highs, while the price is forming lower highs, a pattern known as bullish divergence. This indicates that although the price has not yet caught up, the momentum is gradually shifting in favor of the bulls.

On the downside, $0.02311 is the first important support level. However, the invalidation of this bullish structure begins below $0.02171, where the breakout candle initiated the current uptrend.

If this altcoin falls below this level, the growth hypothesis may be invalidated and the bears will regain control.

As long as VET holds above $0.023 and the RSI continues to rise, the uptrend will continue.

Conflux (CFX)

Conflux is one of the most prominent public blockchains in China, designed to support high-speed decentralized applications and regulatory compliance.

The price of CFX has increased by about 35% in the past week, currently trading around $0.1, indicating strong short-term growth momentum. However, the price is still 94% lower than the ATH of $1.70, leaving room for recovery.

On the chart, $0.1042 is the nearest resistance level. A strong breakout above this level could push the altcoin up to $0.1233, with very few technical resistance levels in between. This level could act as a catalyst if the market's upward momentum is maintained.

CFX Price Analysis | Source: TradingViewOn the downside, several support levels exist around $0.1008, $0.0913, and $0.0827. However, the area below 0.0827 is the critical zone, where if the structure is broken, it could potentially change the direction of the trend even in a strong altcoin cycle.

The EMA line ( The 20-day exponential moving average has recently crossed above the 50-day EMA and is expanding, indicating a bullish signal.

This is not the usual 50-200 day golden cross, but it still indicates a speeding up of the short-term trend. The narrower time frame makes this a faster reacting indicator, showing that short-term sentiment has shifted to an upward trend.

As long as CFX holds above $0.1008 and the distance between the EMA lines continues to widen, the bulls may still retain control of the market.

Qtum )QTUM(

Qtum is one of the first hybrid blockchains developed in China, combining the Ethereum system with Bitcoin's UTXO model.

The "made in China" altcoin, QTUM, once reached an ATH of $106.88, but it is currently trading around $2.24, losing nearly 98% of its value from the peak. However, Qtum has climbed 16.8% in the past week, indicating a new upward momentum.

With the Fibonacci extension level from $1.73 to $2.382 and then a correction to $2.187, many bullish targets have emerged.

![])https://img-cdn.gateio.im/webp-social/moments-631690dce4671ecdbead1a0e3ff76de8.webp(QTUM Price Analysis | Source: TradingViewPreviously, QTUM had immediately broken through the resistance level at $2.341 but was quickly rejected and is now consolidating just near $2.279, an important horizontal support level.

This trend will continue as long as QTUM holds above the retracement level of $2.187. If the bulls try to push the price above the resistance level of $2.341 again with high trading volume, the next targets will be $2.436 and $2.513.

If the price drops below $2,187, the breakout structure will be invalidated. And if the price slides below $1,728; the overall bullish argument will be rendered ineffective.

In summary, QTUM is trying to regain trend strength after several years of underperformance. The technical setup offers hope, but the $2.341 barrier remains a crucial threshold that this altcoin needs to overcome to unlock higher targets.

Vincent