Weekly Cryptocurrency Market Analysis: Altcoins Continue Uptrend Above Existing Support

The best-performing cryptocurrencies are showing same feature as altcoins that resume the upward correction to previous highs. Although some altcoins are reaching previous highs, they are failing to surpass them.

Popcat 

Popcat (SOL) is in an uptrend and has surpassed its high of $0.90. The altcoin has been in a sideways trend since July 20. The bulls have broken through the breakout level and reached a high of $1.46. 

However, the bullish momentum is being tested near the high of $1.40. The cryptocurrency has retraced above the 21-day SMA and has resumed its uptrend. If the current resistance is broken, the altcoin could rise to $1.60. Beyond that, the chances of the altcoin dropping if it falls back below the 21-day SMA support increases. 

Popcat (SOL) is the best performing cryptocurrency.

The current price: $1.29

Market capitalization: $1.26B

Trading volume:  $136.64M

7-day gain: 28.39%

Uniswap 

The price of Uniswap (UNI) has returned above the moving average lines, but the rising move is encountering early resistance at $8.

If the current $8.00 barrier is broken, the altcoin will rise to its high of $10. However, if the bullish situation is rejected, UNI will be forced to trade sideways below its recent high. The price of the cryptocurrency will fluctuate above the moving average lines but below the resistance line. UNI is the second best performing cryptocurrency.

The current price: $8.03

Market capitalization: $4.82B

Trading volume: $704.51M

7-day gain: 19.58%

dogwifhat 

the price of dogwifhat (WIF) has stabilized above the $1.50 support and is now back above the moving average lines. The cryptocurrency will aim to rise above the moving average lines. The upward movement has paused at the high of $2.70. The current barrier has not been breached since July 21. On the upside, WIF will rise to a high of $3.50 if buyers break through the existing resistance. 

Meanwhile, the altcoin is trading above the moving averages but below the resistance level of $2.70. WIF is the third best performing cryptocurrency. It has the following characteristics.

The current price: $2.48

Market Capitalization: $2.48B

Trading Volume: $668.36M

7–day Gain: 19.09%

MANTRA 

The price of MANTRA (OM) is in an uptrend after recovering above the $0.03 support. The price of the cryptocurrency rose to a high of 1.42 dollars. The peak price was reached on July 21. In the last two months, however, buyers have not managed to surpass the peak price. 

Today, the altcoin price is testing the resistance level again, but is being rejected. The uptrend will continue as soon as the upper threshold of $1.40 is broken. If the altcoin fails to break the above barrier, it will continue its sideways trend. 

OM is the fourth best performing cryptocurrency.

The current price: $1.42

Market Capitalization: $1.21B

Trading Volume:  $37.86M

7–day Gain: 11.56%

EigenLayer 

EigenLayer (EIGEN) is in an upward correction after falling to a low of $3.03. The bulls bought the dips and rallied above the moving average lines. The value of EIGEN rose to a high of $4.16. The bullish momentum is yet to overcome the overhead resistance of $4.20. Currently, the altcoin has pulled back above the moving average lines and is preparing for the second leg of its upward momentum. 

The altcoin is the fifth best performing cryptocurrency. It has the following characteristics.

The current price: $3.76

Market Capitalization: $701.94M

Trading Volume: $238.08M

7–day Gain: 5.60%

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.