Weekly Cryptocurrency Analysis: Altcoins Are On The Rise And Continue Their Steep Rally

Cryptocurrencies have continued to rise, with some entering the bull market. Others have fully recovered from the earlier decline.

Bitcoin SV

Bitcoin SV (BSV) has resumed its uptrend after breaking above the upper barrier at $56. The cryptocurrency has been trending sideways since July 1. Buyers have not managed to keep the price above the $56 mark. On December 27, the altcoin rallied and broke through the resistance level of $56. The upward momentum reached a high of $107 before reversing. The retracement has slowed down as it trades below the $100 barrier. If the current resistance is broken, bullish momentum will rise to a high of $100.

Below are the benefits of BSV, the best performing cryptocurrency:

Current price: $94.76

Market capitalization: $1,990,700,531

Trading volume: $712,181,320

7–day gain: 88.60%

Sei

The price of Sei (SEI) is rising after breaking through the $0.27 resistance. The price indicator predicts that the altcoin will increase to the high of the 2.0 Fibonacci extension or $0.74. The continued rise encounters early resistance at the high of $0.60. Once this resistance is broken, the uptrend will resume. The current price of SEI/USD is $0.54.

SEI is the second best performing cryptocurrency and has the following characteristics:

Current price: $0.5492

Market capitalization: $5,491,381,640

Trading volume: $1,125,346,197

7–day gain: 51.26%

Mina

After the recent slump, Mina (MINA) is in an upward correction. The altcoin rose to a high of $1.50 before being halted. On October 24, market activity halted the rising reversal near the $0.97 resistance level.

The cryptocurrency traded sideways below the $1.00 resistance level before breaking through it on December 23. The upside is currently stuck at the $1.50 high as buyers maintained their rise to the $3.50 high.

If MINA reaches a high of $3.50, it will recover fully. MINA, the coin with the third highest value, has the following characteristics:

Current price: $1.36

Market capitalization: $1,504,335,398

Trading volume: $238,317,945 

7–day gain: 49.76%

ORDI

The price of ORDI (ORDI) has resumed its uptrend after recovering and breaking above the $26 resistance level. The uptrend started after it tested and broke through the resistance twice. The market climbed to a high of $83.
Since December 25, the uptrend has stalled near the $90 high. ORDI is expected to continue rising as it does not face any further obstacles.

At the time of writing, ORDI was trading at $78.25. It is the fourth best performing coin and has the following characteristics:

Current price: $78.29

Market capitalization: $1,643,264,053

Trading volume: $965,934,489

7–day gain: 44.76%

Tellor

The price of Tellor (TRB) has resumed its uptrend after breaking through resistance at $120. The cryptocurrency is now in a bull market. At the time of writing, the altcoin had reached a high of $243. The uptrend is likely to continue as the crypto asset is unlikely to hit further resistance levels. Teller is the 5th most profitable cryptocurrency.

The following conditions define TRB:

Current price: $244.20

Market capitalization: $627,993,512

Trading volume: $206,964,805

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.