According to analysts, Bitcoin and the altcoins have experienced one of the worst bear markets. In the meantime, the cryptos below are some of the strongest coins at the moment. The coins have made a tremendous movement as they break above the moving averages. Unfortunately, the demand dries up at a higher price levels.
Compound
Compound (COMP) is in a downtrend but has made an upward correction to the previous highs. The cryptocurrency fell to the low of $26 and rebounded. The bullish momentum broke above the 21-day line SMA but fail to break the 50-day line SMA. The altcoin is trading between the moving average lines.
On the upside, if the bulls break above the 50-day line SMA, the altcoin will rally to $95. On the downside, if the bears breach below the 21-day line SMA, COMP will decline to the previous low of $26. The compound will continue to trade between the moving averages where the range-bound levels remain unbroken. COMP/USD is above the 80% range of the daily stochastic. The market has reached the overbought region. It is the strongest altcoin at the moment. It has the following characteristics:
The current price: price: $49.60
Market Capitalization: $496,007,068
Trading Volume: $96,417,899
7–day Gain/Loss: 50.57%
Polygon
Polygon (MATIC) is in a downtrend but the cryptocurrency has resumed upward correction. The crypto’s price broke the 21-day line SMA but failed to break the 50-day line SMA. MATIC is now trading between the moving average lines. Polygon will resume an uptrend if price is above the 50-day line SMA. The altcoin will further rise to a level of $0.90 or $1.20 high.
Conversely, if the altcoin falls below the 21-day line SMA, it will decline to the previous low at $0.31. Polygon is at level 61 of the Relative Strength Index for Period 14. It indicates that the coin is in the bullish trend zone and capable of a further upward move. MATIC is the second strongest altcoin for the week. It has the following characteristics:
The current price: $0.5358
Market Capitalization: $5,393,058,080
Trading Volume: $579,794,992
7–day Gain/Loss %: 36.98%
The Sandbox
The Sandbox (SAND) price is in a downtrend as it breaks above the moving averages. The bulls break above the moving averages but failed to sustain the bullish momentum. The crypto’s price is fluctuating between the moving averages. The coin will trend when the moving averages lines are broken.
The Sandbox will be compelled to a range-bound move if it retraces and finds support above the 21-day line SMA. The downtrend will resume if price breaks below the 21-day line SMA. Presently, the downtrend has eased as price breaks above the moving averages. It is the third strongest altcoin for the week. It has the following characteristics:
The current price: $1.19
Market Capitalization: $3,575,587,340
Trading Volume: $412,551,486
7–day Gain/LOSS %: 36.30%
Shiba Inu
Shiba Inu (SHIB) is in a downtrend but has broken above the moving averages. However, the bulls could not sustain the bullish momentum. The current uptrend is facing resistance at the recent high. The crypto’s price is retracing below the 50-day line SMA.
SHIB will resume a range-bound move if it retraces below the moving averages. The coin is above the 80% range of the daily stochastic. It indicates that the coin has reached the overbought region. Sellers will emerge to push prices down SHIB is the fourth-strongest altcoin at the moment. It has the following characteristics:
The current price: $0.00001103
Market Capitalization: $6,567,454,916
Trading Volume: $533,282,684
7–day Gain/Loss: 34.18%
Zilliqa
Zilliqa (ZIL) is in a downtrend but has resumed upward correction. The crypto’s price broke above the 21-day moving average but it is below the 50-day line SMA. The bulls are struggling to break above the 50-day line SMA. The crypto will resume an uptrend if price breaks above the 50-day line SMA.
On the other hand, the downtrend will resume if price breaks below the 21-day line SMA. Meanwhile, ZIL is below the 80% range of the daily stochastic. It indicates that the coin is in a bearish momentum. It is the fifth-strongest altcoin at the moment. It has the following characteristics:
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The current price: $0.04498
Market Capitalization $944,270,879
Trading Volume: $170,309,416
7–day Gain/Loss: 32.63%
