Following the June 18 price slump, the altcoins below are making positive moves as price breaks above the moving averages. Most of the coins have broken above the 21-day line SMA. A break above the 50-day line SMA and bullish momentum is sustained will propel the cryptos to resume upside momentum. Let us examine the strongest altcoins for the week.
Arweave
Arweave (AR) is in a downward correction as price breaks above the 21-day line SMA. Since July 1, the cryptocurrency has been trading between the moving averages but fail to break above the 50-day line SMA. On the upside, if the bulls overcome the 50-day line SMA, the altcoin will rally to $15.50 or $19.50 high.
Presently, the altcoin is above the 80% range of the daily stochastic. It indicates that the coin has reached the overbought region of the market. Further upward movement of the coin is unlikely. The crypto may retrace and resume a range bound move between moving average lines. The selling pressure will resume if it retraces and breaks below the 21-day line SMA. It is the strongest altcoin at the moment. It has the following characteristics:
The current price: price: $11.24
Market Capitalization: $741,578,867
Trading Volume: $30,752,532
7–day Gain/Loss: 11,33%
Curve DAO Token
Curve DAO Token (CRV) is in a downtrend but has resumed upward correction. CRV has broken above the 21-day line SMA. The coin will resume upside momentum if the price breaks above the 50-day line SMA. It will revisit the previous highs of $1.40 and $2.60. On the downside, the downtrend has subsided as the altcoin makes upward correction.
On May 12 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that CRV will fall to level 1.272Fibonacci extension or level $0.63. CRV is at level 46 of the Relative Strength Index for Period 14. It indicates that the coin is in the bearish trend zone and capable of a further decline. The altcoin is the second strongest altcoin for the week. It has the following characteristics:
The current price: $0.8062
Market Capitalization: $2,662,870,144
Trading Volume: $115,702,654
7–day Gain/Loss %: 2.80%
UNUS SED LEO
UNUS SED LEO (LEO) price is in an uptrend as price breaks above the moving averages. The uptrend is facing resistance at the high of $6.10. On July 1, the crypto rallied to the high of $6.50 and dropped suddenly to the current support.
The upward move will resume if the bulls break the initial resistance at $6.10. On June 23 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LEO will rise to level 1.618 Fibonacci extension or level $6.64. It is the third strongest altcoin for the week. It has the following characteristics:
The current price: $5.88
Market Capitalization: $5,794,263,350
Trading Volume: $6,244,054
7–day Gain/LOSS %: 0.12%
PAX Gold
PAX Gold (PAXG) is in a sideways move as the crypto’s price breaks below the moving averages. On May 14, the downtrend subsided as the altcoin fell to the low of $1,802 and resumed upward. Since May `14, the altcoin has been fluctuating between $1,800 and $1,870 price levels. On July 1, the altcoin retested the current support and it is resuming upward. The current support has been holding since January.
A price rebound above the current support will propel the coin above the moving averages. The altcoin is at level 41 of the Relative Strength Index for period 14. It indicates that the coin is in the bearish trend zone and capable of further decline. The altcoin is the fourth-strongest altcoin at the moment. It has the following characteristics:
The current price: $1,810.66
Market Capitalization: $604,428,687
Trading Volume: $15,075,482
7–day Gain/Loss: 1.41%
Tezos
Tezos (XTZ) is in a downtrend as price makes a series of lower highs and lower lows. Today, the lower high is facing rejection at the 21-day line SMA. On the downside, if the altcoin faces rejection at the recent high, the market will decline to the previous low at $1.19.
On the upside, if the altcoin breaks above the 21-day line SMA, the coin will rise and reach the previous highs of $1.70 and $2.10. The crypto is at level 46 of the Relative Strength Index for period 14. Tezos is in the downtrend zone but it is approaching the bullish trend zone. The altcoin is the fifth-strongest altcoin at the moment. It has the following characteristics: .
The current price: $1.50
Market Capitalization: $1,367,645,898
Trading Volume: $42,689,440
7–day Gain/Loss: 2.95%
