Weekly Cryptocurrency Market Analysis: Altcoins Recover At The Bottom Of The Chart

The best-performing altcoins are moving from the bottom to the top of the chart.

The recovery of cryptocurrencies has been hindered by the barriers of moving average lines. Since $HBAR and $CRO have risen but are between the moving average lines, the price is moving in a range.

Cardano

Cardano ($ADA) is in a sideways trend, although it has fallen below the moving average lines. $ADA fell to $0.84 and hovered above the 50-day SMA. A further decline to the lows of $0.65 and $0.55 will be signaled by a break below the moving average lines. Cardano will rise and regain the high at $1.20.

Meanwhile, the bears are trying to break below the 50-day SMA. The coin that is performing the best is $ADA.

The current price: $0.8226

Market capitalization: $28,976,952,539.3

Trading volume: $3,427,847,475.95

7-day gain: 42.38%

Bitcoin Cash

Bitcoin Cash ($BCH) has recently recovered from a low of $271 after falling below the moving average lines. The price indicator predicts a decline but is rising again at the Fibonacci extension of $1,272 or $324.29.Although $BCH has corrected upwards today, the moving average lines have held it back. The price is moving above the $300 support but below the moving average lines.

On a positive note, $BCH will resume a positive trend if buyers keep the price above the moving average lines. The altcoin will rally to the high of $500.80. The bullish momentum will eventually reach the high of $624. The cryptocurrency with the second best performance is $BCH.

The current price: $379.26

Market Capitalization: $7,524,414,661.52

Trading Volume: $569,245,506.77

7–day Gain: 35.63%

Hedera

The trend for Hedera ($HBAR) is sideways. The digital asset was rejected twice at the $0.40 resistance level. $HBAR corrected upwards after falling above the low of $0.18. The moving average lines have completed the upward correction. The price of cryptocurrencies has been stuck since March 1.

On the upside, the altcoin will hit a high of $0.40 if the bulls break the 50-day SMA. However, $HBAR will fall to the low of $0.20 if the bears break the 21-day SMA. The third best performing coin is $HBAR.

The current price: $0.2332

Market capitalization: $9,849,132,879.89

Trading volume: $737,297,588.75

7-day gain: 29.95%

$XRP

$XRP ($XRP) has fallen below the moving average lines, although it is still in a sideways trend. Since the price dip on February 3, $XRP has been moving between the support at $2.00 and below the high at $3.00.The altcoin is bearish in the lower price area. The selling pressure will end above the $2.00 support. The altcoin will rise once it stays above the $2.00 support. $XRP will drop to as low as $1.76 if it falls below the $2.00 support.

The current price: $2.34

Market Capitalization: $136,250,930,265.87

Trading Volume: $7,852,360,253.85

7–day Gain: 21.84%

Cronos

The price of Cronos ($CRO) has fallen sharply to the lower part of the chart. The cryptocurrency dropped as low as $0.068 before rebounding. The 50-day SMA stopped the price of the cryptocurrency when it broke above the moving average lines. $CRO is located between the moving average lines at the bottom of the chart. The cryptocurrency will rise above the 50-day SMA once again. It will rise to the next resistance at $0.14. The market has entered oversold territory, which is a disadvantage.

Of all cryptocurrencies, $CRO is in fifth place.

The current price: $0.08252

Market Capitalization: $2,192,937,138.26

Trading Volume: $55,226,703.24

7–day Gain: 20.76%

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.