Weekly Analysis Of The Cryptocurrency Market: Altcoins Surpass Previous Highs As Bulls Buy Every Dip

Altcoin prices have recovered from their lows, leading to an appreciation.

Cryptocurrencies rose and broke through the moving average and continued their positive trend above resistance levels.

Curve DAO Token

Curve DAO Token (CRV) has resumed its uptrend after breaking above the moving average lines. The cryptocurrency has been trading at the bottom of the chart since June 10, when it fell to a low of $0.22. The altcoin fell after reaching its peak price of $6.80. 

Today, CRV has gained value and has risen to a high of $1.33. The altcoin is in a slight retracement after breaking through the $1.33 level. If the bulls break through the resistance at $1.40, the altcoin will rise to a high of $1.64. 

Currently, the altcoin is falling again after reaching the resistance zone. The uptrend will resume if it retraces and stays above the 21-day SMA. CRV is the best performing cryptocurrency.

The current price:  $1.13

Market capitalization:  $1,411,640,603.86

Trading volume:  $618,650,786.30

7-day gain: 69.12%

JasmyCoin

JasmyCoin (JASMY) is also on the upswing, but its rally after a decline was halted by resistance at $0.04. Today, the altcoin is on the retreat after reaching a high of $0.059. The rise will continue if the altcoin retraces and stays above the breakout level of $0.04. This will help the altcoin to trade above the moving average lines but below the $0.06 resistance level. 

However, if the altcoin falls below the $0.04 support, it will fall above the 21-day SMA or the $0.03 level. JASMY is the second-highest performing cryptocurrency.

The current price: $0.04723

Market capitalization:  $2,332,751,848.89

Trading volume:  425,769,173.61

7-day gain: 65.69%

Bitget Token

Bitget Token (BGB) is in an uptrend and has been trading in a bull market since May 2023. The altcoin is currently trading at $2.95, up from a low of $0.380. The uptrend has come to a halt at the resistance level of $3.00. BGB is trading below this barrier, indicating a positive trend. The altcoin has been hovering above the $2.50 support for the last 48 hours.

BGB is the third best performing cryptocurrency. It has the following characteristics:

The current price: $2.60

Market Capitalization: $3,638,240,941.41

Trading Volume: $179,602,611.35

7–day Gain: 65.52%

Mog Coin

Mog Coin (MOG) is currently on the upswing and is trading in a bull market. The altcoin has risen from a low of $0.000003881 to a high of $0.000004047. The upswing has stalled near the $4,000 mark. MOG is trading near its recent high, indicating that the cryptocurrency will continue to rise. The uptrend will continue once the current retracement remains above the existing support. 

MOG is the fourth best performing cryptocurrency. Here are some of its characteristics.

The current price: $0.000003792

Market Capitalization: $1,481,353,572.50

Trading Volume: $81,903,684.30

7–day Gain: 53.13%

TRON

The price of TRON (TRX) is falling after breaking the historical milestone of $0.35 in January 2018. Today, the cryptocurrency has retreated to a low of $0.29 after reaching a high of $0.45. The altcoin is trading above the moving average lines but below the resistance level at $0.35. If TRON finds support above the moving average lines, it will be forced to move in an area above these lines but below its recent high. TRON is the fifth best performing cryptocurrency.

Here are a few of its characteristics.

The current price: $0.2943

Market Capitalization:  $25,389,454,555.67

Trading Volume: $1,399,289,663.01

7–day Gain: 50.71%

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.