Weekly Cryptocurrency Analysis: Altcoins Return To Previous Highs While Cryptos Cross Critical Thresholds

The best-performing cryptocurrencies are bouncing back after reaching critical support in July. This is possible because cryptocurrencies are breaking above moving average lines.

The cryptocurrency value will try to rise when it trades in the bullish trend zones.

BOOK OF MEME 

BOOK OF MEME (BOME) has maintained a horizontal trend after the uptrend ended on March 16. After reaching a high of $0.028, the vertical trend reversed to a sideways trend. The cryptocurrency is trading below the resistance of $0.028 but above the support of $0.007. The BOME price has been fluctuating below and above its moving average lines. Doji candlesticks have limited the altcoin's price movement, causing it to trade in a range.

On the upside, if buyers sustain the price above the $0.022 overhead resistance, the market will rally to a high of $0.030. In the meantime, the altcoin has risen to a high of $0.010.

BOME is the top-performing cryptocurrency. BOOK OFMEME has the following characteristics: 

The current price:  $0.01072

Market capitalization: $739,047,080

Trading volume: $359,989,360

7-day gain percentage: 28.31%

AIOZ Network (AIOZ)

AIOZ Network (AIOZ) is in an upward correction after hitting resistance at $1.08. The altcoin fell to a low of $0.36 as bulls bought the dips. The price of the cryptocurrency has risen above the moving average lines but the reversal to the upside is facing initial resistance at a high of $0.70. 

Currently, the altcoin is on a small pullback towards the moving average lines. AIOZ is trading above the moving average lines but below the $0.70 resistance. If it breaks above the resistance of $1.08, it will rise again.

AIOZ is the second-best-performing cryptocurrency. It possesses the following characteristics:

The current price: $0.5936

Market capitalization:  $659,591,661

Trading volume: $13,910,658

7-day gain percentage: 20.71% 

Bitcoin Cash

The price of Bitcoin Cash (BCH) is in an uptrend after rising above the moving average lines on July 27. BCH is recovering after hitting a low of $288 on July 5. BCH has risen to a high of $458, although it is facing resistance at its recent peak. According to price indications, the altcoin will continue to rise to previous highs. 

On the rise on July 16, a candlestick body retested the 50% Fibonacci retracement line. Meanwhile, the altcoin trades above the moving averages but below the $470 barrier level. BCH is the third-best-performing cryptocurrency. 

The current price: $431.38

Market Capitalization: $9,059,438,806

Trading Volume: $365,560,698

7–day Gain: 18.41%

Bitcoin SV

The price of Bitcoin SV (BSV) has recovered from the previous decline and has risen above the moving average lines. The cryptocurrency fell to a low of $31 on July 5 as bulls bought dips. The altcoin has risen to a high of $52 but is encountering resistance at its recent high. BSV has retraced and paused above the moving average lines but below the $58.50 resistance level. If the current barrier is breached, the altcoin is expected to reach the high of $66.

In the meantime, Bitcoin SV is trading above the moving averages but below the $58.50 resistance level. Bitcoin SV is the fourth best performing cryptocurrency.

The current price: $431.38

Market Capitalization: $9,059,438,806

Trading Volume: $365,560,698

7–day Gain: 18.41%

Flow

Flow (FLOW) is also recovering from the price drop on July 5. The cryptocurrency fell to a low of $0.47 before rising again. The price of the cryptocurrency broke above the moving average lines and reached a high of $0.69. If the bulls maintain their upward momentum, the market could reach a high of $1.20. 

However, the upside will hit early resistance at a high of $0.90. The fifth best performing cryptocurrency is FLOW. It has the following characteristics:

The current price: $0.6934

Market Capitalization: $1,055,174,275

Trading Volume: $49,877,910

7–day Gain:  14.93%

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