Coinidol Weekly Cryptocurrency Market Analysis: Altcoins Oscillate in Anticipation of a Rise

The best-performing altcoins are fluctuating within a bullish trend zone, despite selling pressure near recent highs.

HYPE, STABLE, and Canon have halted their declines above the moving average lines, indicating that these cryptocurrencies are likely to continue advancing.

Hyperliquid

The Hyperliquid (HYPE) price has resumed its upward movement after breaking above the moving average lines. Bullish momentum has peaked at $34.80. The cryptocurrency is now oscillating above the moving average lines and below the $35 resistance level. The price has retraced and is consolidating above the $30 level. If the current resistance is breached, HYPE could rise to a high of $44.

In the meantime, it is trading above the moving average line. HYPE is currently the top-performing cryptocurrency.

• The current price: $30.58
• Market capitalization: $9,244,286,646.66
• Trade volume: $792,424,020.52
• 7-day gain: 40.10%

Canton

Canton (CC) is in an uptrend and has reached its previous high of $0.19. Since 20 January, the cryptocurrency price has been fluctuating around a moving average line.

On January 21, the crypto resumed its upward trend and surpassed the 21-day SMA resistance. Today, positive momentum peaked at $0.195 before falling below that level. The extended candlestick wicks indicate significant selling pressure at the most recent peak.

• The current price: $0.1790              
• Market capitalization: $6,735,370,708.35
• Trade volume: $59,745,749.42
• 7-day gain: 21.33%

Stable

Stable (STABLE) is trading in the bullish trend zone. The cryptocurrency rallied to a high of $0.032 but then declined sharply to a low of $0.022. Selling pressure has paused above the $0.022 support and the bullish ascent has resumed.

On the upside, the bullish trend will continue if buyers keep the price above the $0.026 barrier. However, the long candlestick wick on January 29 indicates strong selling pressure at the recent high.

STABLE is the third most popular altcoin. Here are some of its characteristics.

• The current price: $0.02272
• Market capitalization: $400,172,419.88
• Trading volume: $39,523,482.73
• 7-Day gain: 15.53%

Pump.fun

Pump.fun's (PUMP) price is falling between the moving average lines. In previous price action, bullish momentum was repelled twice at the $0.003 level.

Today, the cryptocurrency price is trapped between the moving average lines. The altcoin is currently trading above the 50-day SMA support but below the 21-day SMA barrier. The altcoin will trend when the 50-day SMA support is broken or buyers push the price above the 21-day SMA. PUMP is the cryptocurrency with the fourth-highest performance.

• The current price: $0.002558
• Market capitalization: $906,022,060.63
• Trade volume: $270,279,932.39
• 7-day gain: 1.94%

TRON

TRON's (TRX) price has fallen below the moving average lines. The cryptocurrency has dropped to a low of $0.284. On the downside, bearish momentum is expected to continue until the low of $0.276. However, if the altcoin retraces and maintains its position above the $0.28 support, it will resume its upward trend. The altcoin will then advance to retest or break above the 50-day SMA level.

TRON is the fifth-best-performing cryptocurrency.

• The current price: $0.2843
• Market capitalization: $26,917,562,367.66
• Trade volume: $853,053,816.99
• 7-day gain: 3.67%

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.