Weekly Cryptocurrency Market Analysis: Altcoins Continue Uptrend By Overcoming Their Individual Overhead Barrier

The altcoins listed below are the best performing cryptocurrencies as they overcame their respective overhead resistances to enter the bull market. The analysis of 5 top performers of the previous week by Coinidol.com.

The positive trend has continued unabated. Let us take a look at a handful of these cryptocurrencies.

Fantom

The price of Fantom (FTM) is on the upswing as it has recovered from the previous drop. FTM fell to the bottom of the chart before recovering above the $0.17 support. The price of the cryptocurrency has broken the moving average lines and reached a high of $1.16. Buyers are expected to drive the altcoin to a high of $3.68 to fully reverse its downtrend. FTM will rise to the next resistance level of $1.64 if it breaks through the first barrier at $1.20.

It has the following characteristics and is the best performing coin.

Current price: $1.17

Market capitalization: $3,700,886,994

Trading volume: $880,986,322

7–day gain: 56.81%

Ondo

Ondo (ONDO) is on the upswing after breaking through resistance at $0.30. Following the breakout, the altcoin is currently in a bull market. Initially, ONDO rose to a high of $0.66 before falling back. The altcoin fell and fluctuated below the resistance level of $0.60. On March 12, the altcoin was rejected at its recent high, halting the slide above the 50-day SMA support.

Today, the altcoin regained its positive momentum and broke above the $0.60 resistance. Following the recent price rise, ONDO is now trading at $0.72. However, the current uptrend will soon hit another hurdle at $0.80.

The second most valuable coin, ONDO, has the following characteristics:

Current price: $0.743

Market capitalization: $7,429,517,429

Trading volume: $284,202,092 

7–day gain: 42.15%

Stacks

Stacks (STX) is in an uptrend and has broken above the overhead resistance of $2.49. The cryptocurrency has fully recovered from its downturn and resumed its uptrend. STX is now in a bull market. The value of the altcoin now stands at $3.52 (as of today). STX's uptrend will continue, but it is now bouncing below the $3.70 threshold. The price movement was characterized by doji candlesticks, which are slowing down the uptrend.

STX, the third best performing cryptocurrency, has the following characteristics:

Current price: $3.37

Market capitalization: $6,119,717,369

Trading volume: $477,542,385

7–day gain: 28.86%

Jupiter

Jupiter (JUP) is a new altcoin that is now trading in a bull market after breaking through the $0.75 overhead barrier. The cryptocurrency climbed to a high of $1.60 before pulling back. JUP has retraced above $1.11 and is now fluctuating below resistance at $1.40.

If the bulls break the recent high, the market will reach a high of $2.25. The altcoin has maintained its positive trend and is trading above the 21-day SMA and resistance at $1.40. JUP is currently worth $1.20.

JUP has the following characteristics and is the fourth best performing altcoin.

Current price: $1.21

Market capitalization $12.075.115.151

Trading volume: $255,900,584

7–day gain: 28.40%

Sui

The price of Sui (SUI) is in an uptrend and trading in a bull market after breaking above the overhead resistance at $1.70. The altcoin has continued to rally higher, although it remains trapped at the high of $2.00. The current rise was halted on February 14, and the altcoin has begun a horizontal pattern. SUI is now trading at prices between $1.30 and $2.00. If the $2.00 resistance level is breached, the altcoin's rally will continue.

SUI, the fifth best performing cryptocurrency, offers the following advantages:

Current price: $1.75

Market capitalization:$17.535.184.047

Trading volume: $521,870,459 

7–day gain: 27.32%

Disclaimer. This analysis and forecast are the personal opinions of the author and are 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.