Weekly Cryptocurrency Market Analysis: Altcoins Recover After A Downturn

The best-performing cryptocurrencies are gradually transitioning from a bear market to a bull market due to the current bullish trend. Analysis of the top performing altcoins by Coinidol.com.

Some of the altcoins listed below have fully recovered from the negative trend.

Pepe

The price of Pepe (PEPE) has recovered from its decline. The bulls have broken through the resistance at $0.00000290000 and are entering the bull market. On February 28, the altcoin rose to a high of $0.00000359688 before falling again. The altcoin has shown a bullish trend in the last 48 hours by fluctuating below the $0.00000350000 barrier.

Should the bulls break the barrier around $0.00000350000, the altcoin will rise to a high of $0.00000508762. If the buyers fail to break the previous high, PEPE will resume its sideways trend. PEPE will trade above the moving average lines but below its recent high. It has the following characteristics and is the best performing coin.

Current price: $0.000003101

Market capitalization: $1,316,295,392

Trading volume: $788.98M

7–day gain: 128.04%

Arweave

Arweave (AR) is in an uptrend, recovering from its previous decline. The price of the cryptocurrency is stuck after hitting resistance at $33. Currently, the price of the cryptocurrency is hovering below the resistance level of $32.00. The upswing will continue once the current resistance is broken. If the buyers are successful, AR will rise much higher to $46.50. The value of the altcoin currently stands at $29.89.

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

The current price is $29.12.

Market capitalization: $1,918,210,640

Trading volume: $202,778,629

7–day gain: 98.74%

Bonk

Bonk (BONK) is in an uptrend and has fully recovered from its decline.

On the upside, BONK will trade in the bullish trend zone if buyers break above the barrier at $0.00002500. The recent high has slowed the uptrend. The altcoin is currently trading at $0.00002295. BONK is expected to rise quickly if buyers break above the recent high.

The third most valuable coin, BONK, has the following characteristics:

Current price: $0.00002295

Market capitalization: $2.15B

Trading Volume: $804.09M

7–day Gain: 92.12%

Uniswap

Uniswap (UNI) is in an upward correction as it recovers from its dip. On February 23, the altcoin peaked at $12.56 before being pushed back.

Today, the price of the cryptocurrency is still trying to break through its recent peak. If the current resistance level is broken, UNI will rise to $15. The fourth best cryptocurrency UNI has the following characteristics:

Current price: $11.69

Market capitalization: $11,692,146,165

Trading volume: $494,288,658

7–day gain: 50.44%

Theta Network

Theta Network (THETA) is in an upward correction as it continues to recover from its previous decline. The cryptocurrency rose to a high of $2.30 before pulling back. The extended candlestick wicks signal significant selling pressure at the recent high. The rise has ended and the altcoin has started to trade below the high of $2.00.

THETA is currently trading above the moving average lines but below its recent high, indicating a positive trend. The altcoin is currently worth $1.92. THETA, the fifth best performing cryptocurrency, offers the following advantages: 

Current price: $1.92

Market capitalization: $1,924,912,407

Trading volume: $129,108,020

7–day gain: 48.45%

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.