coinidol.com
Several cryptocurrencies have broken through additional resistance levels and risen to previous highs.
The altcoins listed below have re-established a positive trend and continue to rise. The following altcoins in weekly cryptocurrency market analysis by Coinidol.com are:
Celestia
Celestia ($TIA) is in an uptrend after recovering and rising above moving average lines. Since November 2, the altcoin has been consolidating above the $2.00 support level and is preparing for a likely breakout. On November 10, the cryptocurrency recovered and climbed to a high of $7.50. On a positive note, the current uptrend is likely to continue beyond the recent peak. If buyers break through the resistance at $7.50, $TIA will reach a high of $10.
Meanwhile, the altcoin has entered the overbought territory of the market. $TIA is the best performing cryptocurrency, and some of its characteristics are:
Current price: $7.14
Market capitalization: $7,143,312,949
Trading volume: $462,466,244
7–day gain: 80.42%
Kaspa
Kaspa ($KAS) is rising steadily. The price of the cryptocurrency is creating a series of higher highs and higher lows. The altcoin has reached the projected price of $0.12, which is the 1.618 Fibonacci extension. Further gains could be hindered if the cryptocurrency enters the overbought zone of the market.
Meanwhile, the uptrend has stalled at the high of $0.15. It is unclear whether the altcoin will rise in value. The advantages of $KAS, the second best performing cryptocurrency, are as follows:
Current price: $0.1373
Market capitalization: $3,942,909,518
Trading volume: $144,217,669
7–day gain: 56.66%
Render
Render (RNDR) is in an uptrend with a series of higher highs and higher lows. The altcoin is approaching the projected price of $3.52. RNDR has now surpassed the historical price level of June 4. On June 4, the market reached a high of $2.80 before dropping lower due to overbought conditions. If the altcoin breaks above the current barrier, it could rise above the $3.60 mark. If the price falls below the 21-day moving average, selling pressure will increase again. The third most valuable coin, RNDR, has the following characteristics:
Current price: $3.34
Market capitalization: $1,794,932,807
Trading volume: $280,152,165
7–day gain: 35.40%
Avalanche
Avalanche ($AVAX) is currently experiencing an upswing as it overcomes its previous decline. The altcoin hit a high of $24 on Nov. 16, and the bulls are breaking through more resistance as the altcoin gains value. On the upside, the bulls are approaching the historical price level of August 10 at $30. A retraced candlestick body tested the 61.8% Fibonacci retracement level on the upswing on November 12. The retracement suggests that $AVAX will rise to the 1.618 Fibonacci extension or the $26.74 level.
Meanwhile, the altcoin is trading at around $21 at the time of writing. It is the fourth most valuable coin and has the following characteristics:
Current price: $21.27
Market capitalization: $15,312,914,482
Trading volume: $769,704,080
7–day gain: 33.44%
THORChain
THORChain ($RUNE) is on the upswing as it recovers from its previous downturn. Since October 19, the altcoin has been steadily rising. The altcoin is about to reach its peak price of $22.50 again. Today, the altcoin reached a high of $6.51 before falling back. It is in overbought territory, with a rejection at the high of $6.50. $RUNE is losing value after being rejected twice at its recent high. $RUNE is the fifth most profitable cryptocurrency. $RUNE is characterised by the following features:
Current price: $5.27
Market capitalization: $2,549,688,636
Trading volume: $342,050,215
7–day gain: 30.08%
A week ago the altcoins such as FTT, LUNA, $KAS, IMX and RPL were the best performing cryptocurrencies, as reported on November 13 by Coinidol.com.
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.