Analytics

Weekly Cryptocurrency Market Analysis: Altcoins Remain Trapped

The cryptocurrencies listed below are the best-performing altcoins.

After reaching their respective overhead resistance levels, the altcoins seem to be forced to trade sideways.

Mog Coin

Mog Coin (MOG) is in an uptrend and trading in a bull market. The altcoin rose to a high of $0.00001353 and was forced to trade sideways. The cryptocurrency value moved between $0.00000040 and $0.00000120. On June 12, the bulls resumed the uptrend by overcoming the resistance at $0.000001353. MOG rises marginally and peaks at $0.000001890. The altcoin is trading marginally due to the presence of doji candlesticks. The candlesticks slow down the price movement.

MOG is the best performing cryptocurrency, with the following characteristics:

The current price: is $0.000001845

Market capitalization: $776.23M

Trading Volume: $44.23M

7-day Gain Percentage: 113.40%

Ethereum Name Service

Ethereum Name Service (ENS) is currently in an uptrend but is recovering from a previous decline. The uptrend ended after it reached a high of $26. The altcoin is now trading between $13 and $26. Today, buyers kept the price above the upper resistance level. The rally will continue provided buyers maintain their bullish momentum above the $26 support. At the time of writing, ENS is now worth $31.91. ENS is the second-highest performing cryptocurrency. It has the following characteristics:

Current price: $31.92

Market capitalization: $3,196,696,523

Trading volume: $331,303,271

7-day profit percentage: 43.30%

dogwifhat

The price of Dogwifhat (WIF) is in a sideways trend but is trading in a bull market. On March 31, WIF rose to a high of $4.85 before being rejected. Furthermore, the cryptocurrency is trading in a narrow range of $1.60 to $4.50. The altcoin is currently in a decline between the moving average lines, following an upward correction from its recent slide below the moving average lines. When one of the moving average lines is broken, the altcoin begins to trend down. It is currently the third highest performing coin.

Current price: $2.28

Market capitalization: $2,278,361,803

Trading volume: $475,919,429

7–day gain: 42.6%

Kaspa

Kaspa (KAS) is currently in a bull market with a horizontal trend. Since February 20, the cryptocurrency has been trading below the overhead barrier of $0.189. On June 4, the bulls broke through the overhead resistance but were stopped out. The cryptocurrency fell dramatically between the moving average lines. Nonetheless, the bulls bought the dips and pushed the price above the moving average lines. Today, the altcoin is slipping after retesting the upper barrier of $0.189.

Meanwhile, the horizontal trend will continue as the altcoin is rejected at the upper resistance level.

KAS, the fourth best performing cryptocurrency, has the following characteristics:

Current price: $0.1789

Market capitalization: $5,135,485,398

Trading volume: $169,937,076

7–day gain: 25.64%

Aave

After a recent dip, the price of Aave (AAVE) has been moving sideways. The altcoin is trading in the price range of $80 to $100. On June 24, the cryptocurrency recovered and broke above the moving average lines. The price of the cryptocurrency is again testing the $100 resistance level. If the current resistance of $100 is broken, the cryptocurrency will rise to a high of $130. AAVE is the seventh best performing cryptocurrency. It has the following characteristics:

Current price: $99.27

Market capitalization: $89,275,844

Trading volume: $89,275,844

7–day gain: 24.28%

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.

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