Altcoins are recovering after breaking above the moving average lines.
ZEC is the highest-performing altcoin, having maintained a bullish advance above the moving average lines. Other altcoins, however, are trading sideways after rebounding above the moving average lines.
Zcash
The price of Zcash (ZEC) has risen steadily since October 1, reaching its target of $446. The cryptocurrency price has remained above the 21-day SMA support, with a series of higher highs and higher lows. The altcoin has entered the overbought zone. Selling pressure will return if sellers emerge and break below the 21-day SMA support. There is a long candlestick wick pointing towards the $440 peak, indicating significant selling pressure at the recent high.
Meanwhile, the cryptocurrency price is fluctuating below $440. ZEC is the top-performing cryptocurrency.
-
The current price: $409.24 -
Market capitalization: $6,664,801,702.2 -
Trading volume: $1,153,493,586.88 -
7-day gain: 48.72%
Virtual Protocol
Virtual Protocol (VIRTUAL) has resumed its upward trend, with buyers pushing it above the moving average lines. The altcoin is rising, but it will face resistance at $2.00. A break above this barrier will take the altcoin to a high of $2.56. However, the $2.00 barrier has not been breached since May 30. If the altcoin falls below its recent high, it will continue to move sideways.
Meanwhile, the altcoin’s upward movement has paused at the $1.84 high. VIRTUAL is the second-best-performing cryptocurrency.
-
The current price: $1.81 -
Market capitalization: $1,186,370,165.81 -
Trading volume: $1,181,812,556.01 -
7-day gain: 50.59%
OFFICIAL TRUMP
OFFICIAL TRUMP (TRUMP) price has surged above the moving averages, reaching a high of $8.69. The bullish momentum was rejected at the previous high, as the altcoin retraced and remained above the moving average lines. The cryptocurrency price is currently oscillating above the moving average lines but below the $8.50 high.
Today, the altcoin is retracing towards the moving averages. A break below the moving average lines will send the cryptocurrency back to the bottom of the chart. TRUMP will rise to a high of $11.90 if the barrier is broken.
-
The current price: $7.63 -
Market capitalization: $1,527,768,365.28 -
Trading volume: $666,776,981.83 -
7–day gain: 34.17 %
Aerodrome
Aerodrome (AERO) is in a sideways trend but has risen above the moving average lines. However, the bullish momentum faces resistance near the $1.10 level.
On the downside, if the altcoin retraces and breaks below the moving average lines, it will revert to its previous low of $0.74. The initial decline will occur between the moving average lines. In other words, the altcoin will be confined to a specific range for a few days. AERO is the fourth most successful altcoin.
-
The current price: $1.01 -
Market capitalization: $912,692,277.65 -
Trading volume: $45,276,462.04 -
7–day loss: 31.68%
Bittensor
Bittensor’s (TAO) price is rising in a sideways pattern. The bullish surge has met resistance at $519 and retreated. The price is retracing towards the 21-day SMA support but remains below the $520 peak. The upward trend will continue if buyers maintain the price above the moving average lines. The altcoin will rise to its previous high of $580. However, if the 21-day SMA support is broken, TAO will fall to the bottom of the chart.
-
The current price: $492.26 -
Market capitalization: $5,031,060,754.53 -
Trading volume: $639,093,223.38 -
7–day gain: 5.93%
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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-surge-sideways/