The altcoins below are trading in the bullish trend zone. The coins are facing rejection at the overhead resistance levels. Further upsides are possible if the bulls breach the overhead resistance levels. Let us examine each of the strongest altcoins for the week.
Oasis Network
Oasis Network (ROSE) is in an uptrend as the altcoin rallied to the high of $0.095. The recent rally reached the overbought region of the market but the crypto pulled back above the $0.07 support. The upward move is stuck below the $0.09 overhead resistance.
Oasis Network has been rejected thrice as it fell below the 21-day line SMA but above the 50-day line SMA. The cryptocurrency is likely to be compelled to a range bound move between the moving average lines. The market will trend when the range-bound levels are breached. ROSE is at level 48 of the Relative Strength Index for period 14. The altcoin has fallen to the downtrend zone because of the recent retracement. It indicates that the altcoin may further decline. It is the strongest altcoin for the week. It has the following characteristics:
The current price: $0.07901
Market Capitalization: $790,098,242
Trading Volume: $90,655,165
7–day Gain/Loss %: 64.75%
yearn.finance
yearn.finance (YFI) is in an upward move as the price reaches the high of $14,000. The upward move has been terminated as the altcoin reached the overbought region. The coin has retraced above the $10,000 support. It is consolidating above the current support for a possible upward move.
Meanwhile, on July 30 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.0 Fibonacci extension or $21,996.78. From the price action, the market is fluctuating above the $10,000 support. The altcoin is below the 80% range of the daily stochastic. The bearish momentum has subsided as it consolidates above the current support. Oasis Network is the second-strongest altcoin at the moment. It has the following characteristics:
The current price: $11,041.34
Market Capitalization: $405,085,770
Trading Volume: $188,628,747
7–day Gain/Loss: 60.41
Chiliz
Chiliz (CHZ) price is in an uptrend as it reaches the high of $0.16 but pulled back to $0.13 low. The crypto’s price is making a series of higher highs and higher lows but has been interrupted at the high of $0.16.
The current uptrend is facing rejection as the market reaches the overbought region. Meanwhile, on July 29 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.0 Fibonacci extension or $0.17. CHZ is at level 63 of the Relative Strength Index for period 14. The altcoin is in the uptrend zone and may rise to the upside. It is the third-strongest altcoin at the moment. It has the following characteristics:
The current price: $0.1386
Market Capitalization: $1,231,832,678
Trading Volume: $819,630,271
7–day Gain/Loss: 52.60%
Filecoin
Filecoin (FIL) price is in an upward correction as it breaks above the moving average lines. The coin rallied to the high of $11.37 but was repelled. The altcoin has retraced to the low of $7.67. The uptrend will resume if price breaks above the resistance at $10.
Meanwhile, on the August 1 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.0 Fibonacci extension or $17.17. From the price action, the altcoin is fluctuating above the $7 support. It is the fourth-strongest altcoin at the moment. It has the following characteristics:
The current price: $8.19
Market Capitalization: $2,041,452,063
Trading Volume: $1,154,880,292
7–day Gain/Loss: 51.40%
Ravencoin
Ravencoin (RVN) is in an upward correction as price breaks above the moving averages lines. On July 18, the uptrend was repelled at the $0.029 high. The coin pulled back above the moving average lines and resumed upward. On July 28, the bulls broke the initial resistance to reach the high of $0.043.
The coin is likely to face rejection at the $0.05 high. A break above the $0.05 high will catapult the coin to the high of $0.07.It is the fifth strongest altcoin for the week. It has the following characteristics:
The current price: $0.03618
Market Capitalization: $759,746,722
Trading Volume: $38,753,194
7–day Gain/LOSS %: 44.18%
