Weekly Cryptocurrency Analysis: Altcoins Continue To Rise After A Brief Setback

The coins listed below have recovered from their previous downturn. Coinidol.com bringing the list of top best coins of the previous week.

Altcoins have continued their positive performance after a brief setback, while altcoins are approaching overbought levels. Let us now take a look at some of these cryptocurrencies.

Akash Network

The price of Akash Network (AKT) has recovered from the previous slump and is now on the upswing again. The price of the cryptocurrencies has been steadily rising as it has overcome the initial barrier, which was around $0.70. The value of the coin has risen to $3.15 at the time of writing. The uptrend for buyers has continued above the historical price level of $2.50, which was set on January 31, 2022. The uptrend has continued in the meantime.

The best performing cryptocurrency, Akash Network, offers the following advantages:

Current price: $3.07

Market capitalization: $1,193,093,494

Trading volume: $13,463,516

7–day gain: 37.50%

Celestia

Celestia (TIA) is in an uptrend and has reached the $12.76 price target. The cryptocurrency has now risen even higher, reaching a high of $15.50. The $15.00 resistance zone has limited the altcoin's ability to rise further. Three times the barrier has prevented the price of the cryptocurrency from moving. The cryptocurrency is now pulling back towards the moving average lines. If the cryptocurrency retraces above the 21-day SMA, the current rise will resume. However, if the price falls below the 21-day moving average line, the current rally will come to a halt. The second most valuable coin, TIA, has the following characteristics:

Current price: $14.08

Market capitalization: $14.281.337.508

Trading volume: $321,817,352

7–day gain: 26.39%

Arbitrum

Arbitron (ARB) has fully recovered from its previous dip and is currently in an uptrend. The price of the coin is at $1.77 at the time of writing and buyers have managed to reclaim the high of $1.74 from a previous dip. However, the uptrend was halted by the $2.12 barrier. The coin is now fluctuating below the barrier at a level of $2.00. If the buyers break through the resistance at $2.00 and $2.12, the uptrend will resume. If it fails to break through the barrier at $2.00, the cryptocurrency is at risk of a crash. 

It has the following characteristics and is the coin with the third-best performance:

Current price: $1.77

Market capitalization: $17.681.670.478

Trading volume: $841,361,004

7–day gain: 22.45%

Sei

The price of Sei (SEI) is rising as buyers attempt to reclaim the previous high of $1.00. Buyers drove the cryptocurrency to a high of $0.90 on January 3 before it was halted. The altcoin is in an uptrend after a small decline. If the barrier is broken at this level, the SEI will rise above its previous high of $1.00. If buyers succeed in doing so, the cryptocurrency will continue its upward trend. SEI/USD is now at $0.67. 

The cryptocurrency with the fourth best performance is SEI and has the following characteristics:

Current price: $0.6773

Market capitalization: $6,773,004,111

Trading volume: $686,273,460

7–day gain: 18.98%

Osmosis

The price of Osmosis (OSMO) has broken above the previous high of $1.64 and has resumed its positive trend. Following the breakout, the cryptocurrency has already risen to $1.95. The uptrend is currently trapped below the resistance level of $1.95.

The cryptocurrency has found support twice above the 21-day SMA after retesting the barrier at $1.95. The current uptrend is expected to continue and reach a high of $2.80 if the current resistance level is breached. 

The fifth most lucrative cryptocurrency is OSMO. OSMO is defined by the following conditions:

Current price: $1.76

Market capitalization: $1,757,132,035

Trading volume: $53,340,997

7–day profit: 39.80%

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 the research before investing in funds.