Weekly Cryptocurrency Market Analysis: Altcoins Gain Momentum And Enter The Bull Market

Some cryptocurrency pairs are trending higher as the market is bullish. Some continue their uptrend after previously declining.

Once the best-performing cryptocurrencies enter a bull market, their value increases. Altcoin price analysis from Coinidol.com.

Notcoin

Notcoin (NOT) is now in an uptrend and trading in a bull market. In the price surge on May 16, the altcoin rose to a high of $0.027 before quickly falling to support at $0.007. Buyers are continuing the second leg of the uptrend to return to the previous high. The cryptocurrency has risen to a high of $0.013. It is likely that the uptrend will reach its previous high of $0.027. NOT is the best performing cryptocurrency with the following characteristics:

Current price: $0.01341

Market capitalization: $1,377,673,430

Trading volume: $717,662,381

7-day gain: 175.06%

JasmyCoin

JasmyCoin (JASMY) is gaining momentum after recovering from a recent downtrend. During the initial uptrend, the altcoin rose to a high of $0.027. Today, the bulls broke through resistance at $0.027 and continued the second leg of the rise. If the uptrend continues, JASMY will rise to a high of $0.041. The altcoin is now worth $0.033. JASMY is the second-highest performing cryptocurrency. It has the following characteristics:

Current price: $0.03476

Market capitalization: $1.74B

Trading volume: $490.75M

7-day gain: 61.86%

ORDI

After the recent rise, ORDI (ORDI) price is declining. The uptrend ended after rising to a high of $90. The bulls tested the overhead barrier twice before falling below the moving average lines. Today, the altcoin has recovered and rallied above the moving average lines. The positive momentum has extended to a high of $51 but is hitting an early resistance area at $52.50. Should the buyers break through the barrier at $52.50, the market will rise to a high of $74. However, if the bulls fail to surpass the recent high, ORDI will be forced to trade in a range that is above the moving average lines but below the recent high. It is the third best performing cryptocurrency.

Current price: $47.41

Market capitalization: $995,585,349

Trading volume: $185,597,220

7–day gain: 27.28%

Bitget Token

Bitget Token (BGB) is now in an uptrend and trading in a bull market. The price of the altcoin is showing a pattern of higher highs and higher lows. The altcoin rose twice to a high of $1.38 before being rejected. The price of the cryptocurrency is now between the moving average lines. On the upside, the market will resume its uptrend if the bulls break the resistance at $1.38. Buyers have pushed the altcoin back to $1.38, where it previously encountered resistance. The fourth best performing cryptocurrency is BGB. Here are a few key features.

The current price: $1.45

Market capitalization: $2,896,961,477

Trading volume: $66,938,918

7–day gain: 24.23%

Chiliz

Chiliz (CHZ) is on an upswing as it recovers from its previous downturn. The price of the cryptocurrency broke above the moving average lines and rose to a high of $0.167. Buyers failed to sustain the bullish momentum above the high of $0.17. On March 1, the rally ended and the cryptocurrency entered a horizontal trend. The bulls tested the overhead resistance several times but were unable to overcome it. On each occasion, the altcoin falls below the moving average lines, prompting the bulls to buy the decline. CHZ is worth $0.15 at the time of writing and is the fifth best-performing cryptocurrency. It has the following characteristics:

Current price: $0.1503

Market capitalization: $1,336,889,295

Trading volume: $143,044,436

7–day gain: 22.13%

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.