Altcoins have risen above the moving average lines this week, indicating bullish moves. This is a sign that cryptocurrencies will continue to rise.
Despite being above the moving average lines, some altcoins are encountering initial barriers that could jeopardize the uptrend.
Core
Core (CORE) is rising after falling to its low of $0.37. The bulls broke above the moving average three times before breaking through the barrier levels. The value of the cryptocurrency will rise as long as the bullish momentum is sustained above the moving average lines. The positive momentum has peaked at around $0.70.
CORE will rise to the next resistance level at $0.89 if the barrier is breached. The best performing coin is CORE. It has the following characteristics:
The current price: $0.6761
Market capitalization: $675,844,342.02
Trading volume: $32,501,818.12
7-day gain: 31.65%
T Bittensor
The price of T Bittensor (TAO) has risen above the moving average lines and resumed its positive trend. The bullish momentum broke above the 21-day SMA and retested it before surpassing the 50-day SMA barrier. The cryptocurrency value is nearing its high of $320. Buyers were unable to sustain the bullish momentum above the moving average lines in the previous price action.
On a positive note, the altcoin will fully recover from its downtrend if the bulls break above the $500 high.
However, the decline will continue if the bears push the price below the moving average lines. TAO is the second best performing coin.
The current price: $297.56
Market Capitalization: $2,561,832,890.92
Trading Volume: $189,636,190.85
7–day Gain: 20.24%
Artificial Superintelligence Alliance
The price of the Artificial Superintelligence Alliance (FET) has risen from its low of $0.34. The price of the cryptocurrency has risen to a high of $0.60 on the daily chart after rising above the moving average lines. The uptrend will face resistance at the high of $0.80.
However, if this barrier is breached, FET will rise to a high of $1.40. The altcoin is currently in an uptrend. FET is the third best performing coin.
The current price: $0.6044
Market capitalization: $1,446,046,085.16
Trading volume: $142,594,300.12
7-day gain: 14.08%
Raydium
Raydium (RAY) is rising after hitting a low of $1.50. Bullish momentum rose to a high of $2.50 after breaking above the moving average lines. The bullish momentum stalled at the recent high. The cryptocurrency is oscillating below the resistance at $2.50 but above the moving average lines or support at $2.00.
If the altcoin finds support above the moving average lines, RAY will continue its upward trend. The price of cryptocurrencies is currently consolidating above the moving average lines. RAY is the fourth best performing cryptocurrency. These are some of its characteristics.
The current price: $2.15
Market Capitalization: $625,757,349.97
Trading Volume: $53,489,981.79
7–day Gain: 8.12%
Hyperliquid
The price of Hyperliquid (HYPE) has risen to a high of $18 after breaking above the moving average lines. After rejecting the high of $18, the price of the cryptocurrency is now heading back towards the moving average lines. If the price retraces and finds support above the moving average lines, the current uptrend will continue.
On the upside, the altcoin will rise to $28 if the bulls break the high of $20. HYPE is the fifth best performing cryptocurrency.
The current price: $17.26
Market Capitalization: $5,764,104,125.05
Trading Volume: $82,277,132.87
7–day Gain: 7.67%
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.
Source: https://coinidol.com/weekly-altcoins-above-initial-barriers/