All altcoins are making impressive moves in their respective bull markets. Cryptocurrencies are trading in strong trending markets as overbought regions fail to hold. This gives the bulls the advantage to continue the recent rallies.
Kadena( (KDA/USD) was the best performing cryptocurrency last week. The altcoin has been in a bull market for three months. On November 7, the uptrend was halted when the altcoin reached an overbought area at $24.87. If the price retraces and finds support above $16, a new uptrend will begin. The altcoin could fall back to $10.50 if the previous low is broken.
Current Price: $18.16
Market Capitalization: $18,156,266,279
Trading volume: $379,977,872 7-day gain %: 163.42%.
Nevertheless, KDA/USD is likely to decline in the coming trading days. In the meantime, the November 8 downtrend has a candle body testing the 61.8% Fibonacci retracement level. The retracement suggests that Kadena will fall to the Fibonacci extension level of 1.618 or $8.85.
Loopring (LRC/USD) is the second-best performing altcoin, although it has been range-bound for the past two months. The cryptocurrency consolidated above $0.35 support before rebounding. On November 2, Loopring rose to a high of $1.72, but then retreated to resume its upward movement. There is a possibility of further upward movement if the price breaks the current resistance at $1.72.
Current Price: $1.56
Market capitalization: $2,145,597,061
Trading Volume: $1,107,201,647 7-Day Gain %: 122.53%.
These characteristics are likely to improve as the altcoin enters a new uptrend this week. In the meantime, the uptrend from November 3 has shown a candlestick testing the 50% Fibonacci retracement level. The retracement suggests that LRC will rise to the 2.0 Fibonacci extension level, or $3.13.
Crypto (CRO /USD) is the third best performing altcoin over the past week. The cryptocurrency has resumed a new uptrend after a small retracement. Crypto.com has been in an uptrend since June 21. In the last four months, the altcoin has risen back above the $0.09 support and has recovered to the $0.499 high. The bullish momentum is likely to extend to $0.80 if the current resistance at $0.50 is broken.
Current Price: $0.4009
Market Capitalization: $12.131.631.891
Trading Volume: $844,099,128 7-Day Gain %: 88.02%
Nonetheless, the bulls are retesting the resistance at $0.50 to resume the uptrend. Meanwhile, the uptrend from November 6 has a candlestick body testing the 50% Fibonacci retracement level. The retracement suggests that CRO will rise to the 2.0 Fibonacci extension level, or $0.81.
The Sandbox (SAND/USD) is in a small retracement after making a new high at $3.47. The uptrend should continue if the price finds support above the low at $2.51. The uptrend will continue if the price breaks above the resistance at $3.50.
Current Price: $2.52
Market capitalization: $7,547,227,208
Trading Volume: $561,648,158 7-Day Gain %: 47.85%
The sandbox is expected to start a new upward movement after the small retracement. In the meantime, the October 31 uptrend has a candlestick body testing the 50% Fibonacci retracement level. The retracement suggests that SAND will rise to the 2.0 Fibonacci extension level, or $4.17.
Avalanche (AVAX/USD) is the fifth best performing cryptocurrency over the past week. The cryptocurrency has been steadily rising since October 31. It has risen from a low of $61 to a high of $95. Further upside is possible as the altcoin approaches overbought region.
Current Price: $95.21
Market Capitalization: $68.553.385.052
Trading Volume: $2,020,252,881 7-Day Gain %: 42.94%
Meanwhile, the uptrend from November 4 has formed a candlestick that tested the 61.8% Fibonacci retracement level. The retracement suggests that AVAX will rise to the Fibonacci extension level of 1.618 or $94.14.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing