The altcoins below are the leading coins that are making positive moves in a bear market. For the past week, the altcoins have defended their previous lows as they make an upward correction. The relief rallies have reached the overbought region as the altcoins face rejection. Let us examine each of these altcoins.
Kyber Network Crystal v2
Kyber Network Crystal (KNC) is in a downtrend as it plunged to a low of `$1.07. The bulls bought the dips as the altcoin rebounded above the previous low. The altcoin broke above the 21-day line SMA but could not breach the 50-day line SMA. KNC will be compelled to a range-bound move if the crypto’s price holds above the 21-day line SMA. Presently, it is trading above the 21-day line SMA but below the 50-day line SMA.
This suggests that the altcoin will trade between the moving averages. The uptrend will resume if price breaks above the 50-day line SMA. On the other hand, the altcoin will fall if price breaks below the 21-day line SMA. Meanwhile, KNC is above the 80% range of the daily stochastic. It implies that the market has reached the overbought region of the market. Sellers will emerge to push prices upward. KNC is the strongest altcoin at the moment. It has the following characteristics:
The current price: price: $2.40
Market Capitalization: $432,560,904
Trading Volume: $176,845,479
7–day Gain/Loss: 46.88%
KuCoin Token
KuCoin Token (KCS) is in a sideways move but the altcoin has fallen below the 21-day line SMA. The coin will commence a sideways move between the moving averages if the 50-day line SMA support holds. KCS will fall and revisit the previous low if price breaks below the 50-day line SMA. Meanwhile, it is at level 46 of the Relative Strength Index for period 14. It indicates that the altcoin is in the downtrend zone and capable of falling to the downside. KCS is the second strongest altcoin for the week. It has the following characteristics:
The current price: $16.66
Market Capitalization: $2,834,077,755
Trading Volume: $13,170,958
7–day Gain/Loss %: 20.42%
Klaytn
Klaytn(KLAY) has been in a downward move since March 29, 2021. On March 29, the cryptocurrency rallied to an overbought region of the market. The altcoin attain a peak price of $4.65 but was repelled. KLAY fell to the low of $0.32 on May 9. The current fall has reached bearish exhaustion. Meanwhile, the coin is at level 26 of the Relative Strength Index for period 14. It indicates that the market has reached the oversold region. The current downtrend is likely to subside as buyers emerge in the oversold region of the market. KLAY is the third strongest altcoin for the week. It has the following characteristics:
The current price: $0.4885
Market Capitalization: $5,237,388,250
Trading Volume: $87,897,672
7–day Gain/LOSS %: 17.39%
eCash
eCash (XEC) is in a downtrend. The cryptocurrency has fallen significantly to the low of $0.00002576 on May 12. On May 12, the altcoin fell to the oversold region as buyers emerge to push prices upward.
The uptrend is facing rejection at the 21-day line SMA. On the upside, if the bulls break above the 21-day line moving average, the market will rise to the high of $0.00010. The crypto will decline if it faces rejection at the 21-day line SMA. Meanwhile, the coin is at level 46 of the Relative Strength Index for period 14. It indicates that the coin is in a downtrend zone and capable of a further upward move. It is the fourth-strongest altcoin at the moment. It has the following characteristics.
The current price: $0.00005381
Market Capitalization: $1,129,984,562
Trading Volume: $23,265,474
7–day Gain/Loss: 15.98%
Fantom
Fantom (FTM) is in a downtrend. The downtrend is caused by bearish double top pattern. On May 9, the cryptocurrency fell to the low of $0.22 as bulls bought the dips. The coin fell to the oversold region of the market.
Meanwhile, on a weekly chart, a retraced candle body tested the 78.6% Fibonacci retracement level on March 28. The retracement suggests that FTM will fall to level 1.272 Fibonacci Extension or $0.41. From the price action, the altcoin has retested the level 1.272 Fibonacci Extension and it is resuming upward. FTM is the fifth-strongest altcoin at the moment. It has the following characteristics:
The current price: $0.4398
Market Capitalization: $1,396,241,940
Trading Volume: $569,633,645
7–day Gain/Loss: 12.72%
