Weekly Cryptocurrency Analysis: The Boom In Altcoins Continues With The Occasional Pullback

BONK, HNT, WOO, INJ and TIA have continued to rise in value. Profit taking is observed by traders after every downturn. The cryptocurrencies listed below are the best performing altcoins.

Bonk

The price of Bonk (BONK) has risen since December 14 and has continued to do so. The altcoin recovered and climbed to $0.00003894, its highest level. The cryptocurrency value has risen above its previous high of $0.0000050000. The upward moving average lines have not stopped the price bars from rising above them. The uptrend will continue as long as the price bars remain above the 21-day SMA. The current uptrend will end if the bears fall below the 21-day SMA. The altcoin is currently approaching the overbought area of the market.

The best performing cryptocurrency is BONK and has the following characteristics:

Current price: $0.00002651

Market capitalization: $2.64B

Trading volume: $1.92B

7–day gain: 122.51%

Helium

The price of Helium (HNT) is on the rise and has surpassed previous highs. The altcoin has risen to a high of $8.70 at the time of writing. The current upswing is expected to peak at $10.58. The price of the cryptocurrency is going through a series of higher highs and higher lows as it approaches the overbought area of the market. The price bars show that the cryptocurrency will continue to rise as they are well above the moving average lines. The second best performing cryptocurrency, HNT, has the following advantages:

Current price: $8.73

Market capitalization: $1,947,611,570

 trading volume: $62,756,075

7–day gain: 75.68%

WOO Network

WOO Network (WOO) has started its uptrend after a long period of sideways movement. In recent price activity, the altcoin has ranged between $0.15 and $0.28. On December 13, the altcoin rallied and rose to a high of $0.45 before retreating. In anticipation of a further rise, the altcoin has been hovering below the previous high for the past 48 hours. WOO, the third most valuable coin, has the following characteristics:

Current price: $0.4127

Market capitalization: $920,795,683

Trading volume: $141,961,217 

7–day gain: 73.81%

Injectable

Injectable (INJ) is on the rise and has gained dramatically. The altcoin has surpassed its previous high of $2.70 and has continued to rise. On December 14, the altcoin reached a high of $33.69. The altcoin has declined and is now trading below the high of $32.50. The uptrend has stalled in the last three days and is just below the recent high. If the recent high is broken, the altcoin will resume its uptrend. It is the fourth best performing coin and has the following characteristics:

Current price: $30.64

Market capitalization: $3,065,273,917

Trading volume: $375,531,944

7–day gain: 64.64%

Celestia

Celestia (TIA) is in an uptrend and has reached the projected price of $14.75. The ascending trend is meeting an overbought market region. The altcoin has surpassed its initial price level and reached its current high. The altcoin has the potential for further upward movement. The uptrend will continue as long as the price bars remain above the 21-day simple moving average. If the 21-day SMA support is broken, TIA will fall. The fifth most profitable cryptocurrency is TIA. The following criteria characterize TIA:

Current price: $13.56

Market capitalization: $13,677,065,070

Trading volume: $366,236,204

7–day gain: 56.21%

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 their research before investing in funds.  

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• Source: https://coinidol.com/weekly-boom-in-altcoins/