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Weekly cryptocurrency analysis of $SPX, $FARTCOIN, $ENA, $VIRTUAL and $XLM brought to you by Coinidol.com.
Several altcoins have recovered from their recent slump. They are showing a pattern of higher highs and higher lows.
Others, however, have stalled at their previous highs as the cryptocurrency market has resumed its sideways movement.
SPX6900
SPX6900 ($SPX) has been in an uptrend since its inception in December 2024. On December 20, 2024, the altcoin reached a low of $0.536. The cryptocurrency value consolidated above the support level of $0.60 before rising again.
On January 4, 2025, the altcoin rose to a high of $1.67 before retreating. The extended candlestick wick on January 4, 2025 indicates strong selling pressure at a high of $1.60. The altcoin has retreated and is trading below the $1.40 resistance level. $SPX is the best performing cryptocurrency.
The current price: $1.33
Market capitalization: $1,238,018,200.32
Trading volume: $72,637,090.94
7-day gain: 54.40%
Fartcoin
Fartcoin ($FARTCOIN) is currently in an uptrend with a series of rising highs and lows. The cryptocurrency rose to a high of $1.61 before pulling back.
The price indicator shows that the cryptocurrency continues to rise. During the rise on December 20, a candlestick body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will continue to rise to the 2.0 Fibonacci extension high at $2.43. Meanwhile, the altcoin is trading below $1.50 in anticipation of a positive trend. $FARTCOIN is the second best performing cryptocurrency.
The current price: $1.42
Market capitalization: 1,423,898,890.24
Trading volume: $70,045,150.06
7-day gain: 47.12%
Ethena
The price of Ethena ($ENA) was previously in an uptrend, but the upward momentum was halted at a high of $1.30 since December 15, 2024.
$ENA has been forced into a sideways trend below the barrier at $1.30. It is trading above the moving average line but below the $1.30 barrier. If the bulls break through the resistance at $1.30, the altcoin will rise to its previous high of $1.50. If the altcoin falls below the moving average lines, it will lose value. It will fall to the previous support of $0.90. $ENA is the third best performing coin.
The current price: $1.21
Market capitalization: $3,675,686,792.18
Trading volume: $476,908,621.44
7–day gain: 33.71%
Virtuals Protocol
The price of Virtuals Protocol ($VIRTUAL) has risen continuously since the rebound on November 26, 2024. The price of the cryptocurrency rose above the $0.50 barrier and reached a high of $5.12. The price of the cryptocurrency fluctuates between higher highs and higher lows. The uptrend has stalled below the $4.50 resistance level. The altcoin is trading above the 21-day SMA but below the resistance at $4.50. The altcoin is currently in the overbought sector of the market. On January 2, 2025, the long candlestick wick signalled significant selling pressure at the high of $5.00. $VIRTUAL is the fourth best performing cryptocurrency.
The current price: $4.34
Market capitalization: $4,342,974,599.21
Trading volume: $373,296,955.6
7–day gain: 32.59%
Stellar
Stellar ($XLM) is recovering from an earlier decline below the moving average lines. On November 24, 2024, $XLM rose to a high of $0.63 before being rejected again. There are candlestick wicks pointing to the high of $0.60. This indicates strong selling pressure at the recent high. $XLM fell to a low of $0.32 but has since recovered back above the moving average lines. The altcoin is trading above the moving average lines but below the resistance at the high of $0.60. Once the altcoin breaks above the moving averages, it will resume its uptrend. $XLM is the fifth best performing cryptocurrency.
The current price: $0.4483
Market capitalization: $13,602,664,844.2
Trading volume: $671,291,609.96
7–day gain: 27.91%
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.