Weekly Cryptocurrency Market Analysis: Prices Hold Steady as Bitcoin make Strong Comeback

Weekly cryptocurrency analysis of Curve DAO Token, Pepe, Chainlink, Maker and Theta Network brought to you by Coinidol.com.

All of the fifth best performing cryptocurrencies, with the exception of THETA, have seen a positive revival last week. Some altcoins have risen to their previous highs. However, the overbought conditions of the cryptocurrencies are hindering the upward movement. 

Curve DAO Token

Curve DAO Token (CRV) is in an upward correction as it has broken above the moving average lines. The crypto asset’s value rose to a high of $0.56, but failed to maintain the uptrend. After being rejected at the recent high, altcoin is now on the retreat. If the price goes back above the moving average lines, the uptrend will resume. Selling pressure will increase if the price declines and falls below the moving average lines. The decline will reach a minimum of $0.39. 

CRV is above the moving average lines. If buyers maintain the positive trend, the altcoin will rise to its previous highs. However, on the upside, CRV will face resistance from the overbought high of $0.60. The altcoin is currently moving up above the 63 level of the Relative Strength Index of period 14. The most popular cryptocurrency is called CRV and has the following characteristics:

Current price: $0.5143

Market capitalization: $1,698,317,352

Trading volume: $33,553,145 

7–day gain/loss: 18.95%

Pepe

The price of Pepe (PEPE) is rising as it crosses the 21-day line SMA. During the previous trend, bulls bought the dips as PEPE fell to a low of $0.0000006018. The cryptocurrency price is above the 21-day line SMA but below the 50-day line SMA. If the current support holds, the altcoin will rise and break above the 50-day line SMA. On the other hand, if PEPE fails to rise above the 50-day line SMA, it will start a sideways trend between the moving average lines. The altcoin is currently moving upwards above the daily stochastics of 75. The altcoin has reached the overbought zone. It is doubtful that prices will continue to rise. PEPE is the second most valuable cryptocurrency and has the following characteristics:

Current price: $0.000000743

Market capitalization: $313.08M

Trading volume: $85.22M 

7–day gain/loss: 18.43%

Chainlink

The price of Chainlink (LINK) is rising after crossing the moving average lines. At the time of writing, the cryptocurrency value had a peak value of $7.23. As long as the price bars are above the moving average lines, the cryptocurrency will rise. The cryptocurrency value is likely to reach its previous peaks of $8.00 and $8.50. The daily stochastic is at 68, where the altcoin is in a positive trend. The overbought area of the market is getting closer while the current upswing continues. The altcoin will exhaust itself as it approaches its recent high. The cryptocurrency with the third best performance is LINK. These are some of its characteristics:

Current price: $7.67

Market capitalization: $7,679,625,844

Trading volume: $384,600,008 

7–day gain/loss: 11.81%

Maker

Maker (MKR) is rising as it breaks through the $1,346 resistance.

The cryptocurrency rallied above the $680 barrier on June 30 and started to move back up. At the time of writing, the altcoin had reached a high of $1,490.47. The altcoin is now at a point where the market is overbought. It is above the 80 level of the daily stochastic. The price of MKR is overbought, so further price movement is unlikely. The following characteristics of Maker, the cryptocurrency with the fourth highest value, are present:

Current price: $1,491.27

Market capitalization: $1,499,788,056

Trading volume: $122,321,165 

7–day gain/loss: 10.75%

Theta Network

After the price decline on June 10, Theta Network (THETA) is currently moving sideways. The altcoin resumed a sideways pattern on June 10 as the downtrend eased. Bulls bought the dips, which caused the cryptocurrency to fall to a low of $0.56. The upward correction stopped after it went up to $0.85. Currently, the altcoin is trading between $0.56 and $0.85. The price of the altcoin dropped today, and at the time of this writing it is currently trading at $0.63.

The cryptocurrency’s price is stuck between the moving average lines, indicating further constraint and movement within the range. The Relative Strength Index for period 14 is at the level of 51 at THETA. As supply and demand are in equilibrium, the price of the altcoin has reached its equilibrium level. It has the following characteristics and is the fifth best performing cryptocurrency:

Current price: $0.6342

Market capitalization: $634,135,705

Trading volume: $9,107,267

7–day gain/loss: 7.04%

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.