Weekly Cryptocurrency Market Analysis: Altcoins Bounce Back From The Bottom Of The Chart

The top altcoins have made the most progress since they were at the bottom of the chart.

Altcoins crossed the moving average lines after rallying. Weekly cryptocurrency market analysis of the best performing altcoins by Coinidol.com.

PancakeSwap

PancakeSwap (CAKE) is currently recovering from its decline after rising above the moving average lines. The altcoin has previously fallen steeply down the chart. The bulls bought the dips when CAKE hit its low of $1.13. The price of the cryptocurrency rose above the moving average lines and peaked at $3.41. 

However, CAKE has pulled back above the moving average lines. If the altcoin recovers and stays above the 50-day SMA, the uptrend will continue. CAKE will reach $3.58, its previous high. If the bears break below the moving average lines, the cryptocurrency will fall back to its previous low. 

CAKE is the best performing cryptocurrency. It has the following characteristics:

The current price: $2.54 

Market capitalization: $754,433,124.53

Trading volume:  $437,152,967.98

7-day gain: 68.09%

SPX6900

The price of SPX6900 (SPX) has fallen, although it has risen from the bottom of the chart. The cryptocurrency has not yet broken above the moving average lines. The altcoin fell to a low of $0.548 and is now near its high of $0.855. If SPX breaks above the moving average lines, it will rise to $1.40. 

On the flip side, SPX will fall and enter the downtrend if it is rejected at the 21-day SMA. The altcoin is trading below the moving average lines and above the $0.60 level. SPX is the second best performing coin.

The current price: $0.8598

Market capitalization: $801,097,667.01

Trading volume:  $33,219,645.59

7-day gain 30.50%

Jito

The price of Jito (JTO) has been trending sideways since December 4, 2023. JTO traded below the $4.50 resistance but above the $1.50 support. The upper price range was not broken despite numerous retries. The strong selling pressure at the recent high is indicated by the extended candle wicks. The price of Jito is currently higher than the moving average lines. The altcoin will rise and reach the high of $4.50 again.

The current price: $3.18

Market Capitalization: $936,285,088.47

Trading Volume:  $117,810,863.26

7–day gain: 30.30%

Helium

Helium (HNT) is moving sideways as it moves in a range between $3.00 and $10. The altcoin fell to the low of the chart at $2.97 on February 3. The bulls bought the dips and the altcoin started to rise again today. 

Although the upward correction peaked at $3.95, it is still within the downtrend zone. HNT’s positive trend will continue as long as it stays above the moving average lines. The sideways trend will continue as long as the fluctuation ranges remain intact. HNT is the fourth best performing cryptocurrency.

The current price:  $3.94

Market Capitalization: $699,403,710.88

Trading Volume: $5,900,641.22

7–day gain: 19.20%

GateToken

Although GateToken (GT) is growing, it has reached a high of $26. GT hit a low of $17.53 after falling below the moving average lines. The bulls rallied above the moving average lines after buying the dips. GT has reached a high of $23. The altcoin will continue its uptrend and reach a high of $30 if it breaks above the $26 resistance. 

GT ranks fifth among all cryptocurrencies. These are some of its characteristics.

The current price: $23.64

Market Capitalization: $2,096,461,004.05

Trading Volume: $17,349,958.76

7–day gain: 11.63%

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.