Weekly Cryptocurrency Analysis: Altcoins Risk Decline While Cryptos Continue To Drift Sideways

The best-performing cryptocurrencies are divided into two groups. After the recent dip and subsequent upward correction, coins are either trading sideways or recovering from their dip.

Weekly price analysis of the best performing altcoins of the previous week by Coinidol.com.

Helium

Helium (HNT) is in an uptrend, recovering from its previous high of $11.16. The uptrend has produced a higher high and a higher low. During the upswing on July 23, a declining candlestick retested the 38.2% Fibonacci retracement line. The correction suggests that the altcoin will rise to the 2.618 Fibonacci extension or $10.67. 

Today, the altcoin has reached a high of $7.45, at the time of writing. The altcoin will rise if the price bars move above the moving average lines.

HNT is the top-performing cryptocurrency. It has the following characteristics: 

The current price:  $7.44

Market capitalization: $1,197,512,316

Trading volume: $18,263,489

7-day gain:  28.76%

THORChain

THORChain (RUNE) is in an upward correction as it recovers from its previous downtrend. Buyers have failed to sustain the price above the moving average lines. The altcoin is still facing strong resistance above the moving average lines. RUNE has pulled back above the moving average lines. The uptrend will continue if the price holds above the moving average lines. 

Conversely, selling pressure will increase again if the price falls below the moving average lines. RUNE is expected to rise to the previous high of $7.00. 

RUNE is the second highest performing cryptocurrency.

The current price: $3.90

Market capitalization: $1,612,947,703

Trading volume: $108,881,801

7-day gain: 26.91%

Aave 

After the price drop on April 13, Aave (AAVE) has remained in a sideways trend. The altcoin traded above the 75-dollar support but below the 120-dollar high. The price of the cryptocurrency has fluctuated below and above its moving average lines. The altcoin is currently rising as it tests the resistance zone twice. 

Since April 13, buyers have failed to sustain the price above the $120 mark. If the initial barrier is broken, the altcoin will return to its previous high of $140. 

However, if the altcoin falls below the resistance level, the sideways trend will continue.

The current price: $112.48

Market Capitalization: $1,800,243,698

Trading Volume: $137,705,110

7–day Gain:  21.39%

SATS

SATS (1000SATS) is trending downwards, but is now correcting upwards. The bulls broke the moving average lines twice but failed to sustain their bullish momentum above the high of $0.0003500. The price of the cryptocurrency is lingering above the moving average lines, indicating a likely continuation of the rally. Selling pressure will increase again if the bears break below the moving average lines. 

On the upside, the altcoin's uptrend will resume if the bulls break through the resistance at $0.0003500. The altcoin will rise to its previous high of $0.0006000.

1000SATS is the fourth best performing cryptocurrency. 

Here are some of its features. 

The current price: $0.0002857

Market Capitalization: $598,758,448

Trading Volume:  $117.23M

7–day Gain: 21.29%

Fantom

Fantom (FTM) is in a downtrend but is showing an upward correction. Buyers have failed to sustain their bullish momentum above the moving average lines. The cryptocurrency value will continue to fall if it deviates from the moving average lines. Today, the altcoin rose above the 21-day SMA support but fell below the 50-day SMA resistance. 

On the upside, the altcoin will resume its uptrend once it breaks the 50-day SMA. It will rise to its previous highs of $0.80 and $1.00. 

In the meantime, the price of the cryptocurrency remains trapped between the moving average lines. Selling pressure will return if the price falls below the 21-day SMA support.

The fifth best performing cryptocurrency is FTM.

The current price: $0.379

Market Capitalization: $1,209,834,708

Trading Volume: $116,005,813

7–day Gain:  20.60%

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.