Weekly Cryptocurrency Market Analysis: Altcoins In A Slight Pullback As They Continue The Uptrend

The cryptocurrencies like ICP, MNT, DOGE, WIF and BCH are recovering from their previous downtrend.

The altcoins have risen, reclaiming their previous highs and resuming their uptrend. Let us take a look at a few of these cryptocurrencies.

Internet Computer

The price of Internet Computer (ICP) is rising, but it is still recovering from its previous low. During the previous drop, the altcoin fell as low as $3.00 before recovering. The altcoin has risen to a high of $20.96, but it is facing another rejection. ICP is currently worth $17.44. The current rally will continue if it breaks back above the breakout level of $16.28. If the breakout level is breached, the altcoin will return to its previous price range of $11 to $16.

The altcoin has the following characteristics and is the highest performing coin.

Current price: $17.57

Market capitalization: $9,083,528,731

Trading volume: $506,376,604

7–day gain: 50.02%

Mantle

Mantle (MNT) is currently in a bull market with a gentle rise. The rising trend was initially stalled at the high of $1.00, but it was overcome to reach the high of $1.49. The altcoin is in an uptrend after a slight retracement.

Should the altcoin overcome resistance at around $1.49, the market will rise to a high of $1.89. In the meantime, the altcoin has stalled above the support level of $1.20 after a slight retracement.

The second most valuable coin, MNT, has the following characteristics:

Current price: $1.21 

Market capitalization: $7,520,725,713

Trading volume: $367,320,168

7–day gain: 44.73%

Dogecoin

Dogecoin (DOGE) is in an uptrend after breaking above the $0.18 resistance. In the previous price action, DOGE was forced to trade sideways for three weeks after the uptrend ended on March 4, 2024. The altcoin has regained its upward momentum and reached a high of $0.22.

On the upside, buyers are likely to push the altcoin to a high of $0.60.

DOGE, the third best performing cryptocurrency, has the following characteristics:

Current price: $0.217

Market capitalization: $31.17B

Trading volume: $6.26B 

7–day gain: 31.77%

dogwifhat

dogwifhat (WIF) is in an uptrend, although it is facing resistance at $3.55. Since March 15, the altcoin has struggled to break through resistance at $3.55. Today, the resistance was broken and the altcoin started to rise. If the positive momentum continues, the market will reach a high of $6.78. In the meantime, WIF is currently valued at $3.69.

WIF has the following characteristics and is the fourth best performing altcoin.

Current price: $3.67

Market capitalization: $3,662,364,227

Trading volume: $616,179,011

7–day gain: 28.90%

Bitcoin Cash

Bitcoin Cash (BCH) is currently in an uptrend as it recovers from the previous drop. The altcoin has regained positive momentum and has risen above the $480 mark. The positive momentum is expected to continue to the high of $814.03. BCH is currently worth $577.83. Buyers are driving the altcoin to its historic price of $1,642.

BCH, the fifth best performing cryptocurrency, offers the following advantages:

Current price: $576.90

Market capitalization:$12.113.876.880

Trading volume: $1,238,715,955 

7–day gain: 27.32%

Disclaimer. This analysis and forecast are the personal opinions of the author and 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.