This week, the altcoins’ price is in an uptrend but is facing challenges at their respective overhead resistance levels.The bear market is not over as the cryptocurrencies continue their decline. According to reports, the bearish macroeconomic factors are contributing to selling pressure on Bitcoin and altcoin prices. The strongest altcoins below are being affected by sell pressure as the cryptos struggle to remain above the moving average lines. Let us discuss the strongest altcoins for the week.
Celsius
Celsius (CEL) is in a downward correction as it is confined between the moving average lines. In the first uptrend, the altcoin rallied to the high of $4.00 but was repelled. Buyers failed to sustain the bullish momentum as the market reached the overbought region. The cryptocurrency declined sharply to the low of $0.84 as bulls bought the dips.
In the second uptrend, the crypto’s price broke above the moving average lines but dropped sharply below the 50-day line SMA. The altcoin will be compelled to a range-bound move between the moving average lines for a few more days. CEL is below the 50% range of the daily Stochastic. It indicates that the market is in a bearish momentum. It is the strongest altcoin for the week. It has the following characteristics:
The current price: $1.54
Market Capitalization: $1,071,104,505
Trading Volume: $29,205,807
7–day Gain/Loss: 16.26%
Chiliz
Chiliz (CHZ) price is in an uptrend as it rallied to the high of $0.25. The cryptocurrency has resumed a sideways move as the altcoin was repelled in the overbought region of the market. It has regained bullish momentum as buyers pushed the CHZ above the moving average lines.
On the upside, if buyers overcome the resistance at $0.25, the uptrend will resume. The market will reach a high of $0.3366. On the other hand, the sideways move will continue if the overhead resistance remains unbroken. Meanwhile, CHZ is at level 56 of the Relative Strength Index for period 14. It indicates that the altcoin will rise to the upside. It is the second strongest altcoin for the week. It has the following characteristics:
The current price: $0.2149
Market Capitalization: $1,909,733,771
Trading Volume: $482,703,050
7–day Gain/Loss: 6.49%
Quant
Quant (QNT) is in a downward correction as it fluctuates between the moving average lines. The altcoin will trend when price breaks the moving average lines. For instance, if price breaks above the 50-day line SMA, the altcoin will rise and revisit the previous high of $133.33.
QNT will decline to the previous low at $86 where the 21-day line SMA is breached. The altcoin is above the 70% range of the daily stochastic. It indicates that the market is in the bullish trend zone. However, QNT is the third- strongest altcoin for the week. It has the following features:
The current price: $106.91
Market Capitalization: $1,561,762,217
Trading Volume: $33,201,143
7–day Gain %: 4.07%
Cosmos
Cosmos (ATOM) price is in an uptrend. Since June 14, the crypto’s price has been making a series of higher highs and higher lows. Today, the crypto’s price is facing resistance at the recent high. On the upside, if the bulls break the current resistance level, the uptrend will resume.
Cosmos will rally to the high of $25.63. Sellers will take control of prices if buyers fail to breach the recent high. The uptrend will terminate if price breaks below the moving average lines. It is at level 63 of the Relative Strength Index for period 14. It indicates that ATOM is in the bullish momentum as it approaches the overbought region. Cosmos is the fourth-strongest altcoin in the week. It has the following characteristics:
The current price: $16.15
Market Capitalization: $4,623,830,066
Trading Volume: $827,337,030
7–day Gain/Loss: 2.01%
Kyber Network Crystal v2
Kyber Network Crystal v2 (KNC) is in an uptrend since June 30. The crypto’s price is making higher highs and higher lows. The altcoin has risen to a higher high of $2.09. It is retracing now to make a lower low.
Nonetheless, the uptrend is ongoing as long as price bars remain above the moving average lines. On the downside, if price breaks below the moving average lines, the uptrend is likely to be terminated. KNC is above the 68% range of the daily stochastic. It indicates that the market is in a bullish momentum. It is the fifth- strongest altcoin for the week. It has the following characteristics:
The current price: $1.96
Market Capitalization: $348,505,116
Trading Volume: $58,547,870
7–day Gain/Loss: 1.80%
Related:
• How to buy Tamagoge
• Visit Tamadoge Website
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- NFT-Based Metaverse Game
- Presale Live Now – tamadoge.io
