Weekly Cryptocurrency Analysis: Horizontal Trend In Altcoins Indicates Trader Hesitation

The altcoins listed in this weekly cryptocurrency market analysis by Coinidol.com. are experiencing an upward correction.

Top 5 altcoins of the previous week that show price movements that are characterised by doji candles indicating trader indecision.

Helium

Helium (HNT) is experiencing an upward correction as it recovers. The upward correction aims to reach the previous high of $11.06. The uptrend has reached a high of $8.00, but the upside momentum has paused there. If buyers break through the $8.00 level to the upside, HNT will return to its previous high. In the meantime, the price fluctuations are due to doji candlesticks. The altcoin will rise when the price bars cross the moving average lines.

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

The current price: $7.24

Market capitalization: $1,168,457,280

Trading volume: $22,061,141

7-day gain percentage: 5.32%

KuCoin Token

KuCoin Token (KCS) is in an upward correction but is stuck between the moving average lines. The price of the cryptocurrency is holding above the $8.00 support or the 21-day moving average line. If the bulls break the 50-day SMA barrier to the upside, the altcoin will resume its uptrend. If the initial barrier is breached, the bullish momentum will peak at $11.

However, selling pressure will return if the bears break through the 21-day SMA support. KCS is the second-best performing cryptocurrency.

The current price: $8.38

Market capitalization: $1,424,777,641

Trading volume: $689,013

7-day gain percentage: 2.31%

UNUS SED LEO

UNUS SED LEO (LEO) is in a horizontal trend after reaching resistance at $6.14 on March 11. The altcoin continues to move in a range above $5.50, with resistance at $6.00. If the moving average lines are broken, the altcoin will return to its previous trend. LEO is consolidating above the moving average lines while maintaining its range-bound trend. Based on these criteria, LEO is the third best performing cryptocurrency.

LEO is the third-best-performing cryptocurrency based on these criteria.

The current price: $5.79

Market Capitalization: $5,704,112,474

Trading Volume: $2,528,629

7–day Gain: 1.54%

Kaspa

Kaspa (KAS) is in a sideways trend after ending its uptrend at $0.20. The Kaspa price has slipped below its moving average lines. KAS is trading above the $0.15 support and the $0.20 resistance. The altcoin is consolidating above the $0.15 support, indicating a potential uptrend. The price of the cryptocurrency has broken the 21-day SMA but has been steadily rising due to the presence of doji candlesticks.

The current price is $0.167.

Market Capitalization: $4,795,113,789

Trading Volume: $64,578,047

7–day Gain: 1.20%

TRON

TRON (TRON) is in an uptrend but has paused around the $0.17 resistance zone since August 21.

For the previous week, the altcoin has traded above the $0.15 support but below the $0.17 resistance level.

According to the price forecast, the altcoin will rise to the 1.272 Fibonacci extension, or $0.1799. The TRON price remains above the $0.15 support. TRON is the fifth best-performing cryptocurrency.

The current price: $0.1573

Market Capitalization: $13,651,807,658

Trading Volume: $476,019,832

7–day Gain: 0.76%

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.

Source