Cryptocurrencies are in a sideways trend and are being challenged by their upper resistance levels.
Altcoins above the moving average lines have a chance to resume their uptrend. Other altcoins are at risk of further decline if they remain below moving average lines.
Ethereum Naming Service
Ethereum Naming Service (ENS) is seeing a rise after a drop. Previously, the altcoin fell to a low of $7.00 before recovering to a high of $29.74. Currently, the bullish movement has stalled at the $30 resistance zone. The altcoin is in the process of breaking above the $30 resistance zone. On June 2, ENS was rejected at its previous high, but the altcoin found support above the 50-day moving average. If the bulls break the $30 resistance, ENS will rise to a high of $56.
Meanwhile, the altcoin is valued at $26. ENS is the best performing cryptocurrency, with the following characteristics:
Current price: $26.71
Market capitalization: $2,666,868,721
Trading volume: $840,220,285
7-day profit: 39.34%
Read DAO
Lido DAO (LDO) is currently in a bull market, albeit in a slow pattern. The altcoin has been trading sideways since January 11, when it hit the $4.00 ceiling. The price range of LDO is between $1.60 and $4.00. The uptrend will start when it breaks the $4.00 resistance. Currently, the altcoin is trading at $2.35 at the time of writing. LDO is the second highest performing cryptocurrency. It has the following features:
Current price: $2.36
Market capitalization: $2,358,454,430
Trading volume: $312,724,674
7-day profit: 31.60%
Uniswap
Uniswap (UNI) is recovering from its recent drop and is rising. The bullish correction ended at a high of $17. UNI is currently in a sideways trend and is trading below the $17.00 resistance level. UNI is currently trading in a range of $6.40 to $13.00. The uptrend stopped below the high of $13. UNI will regain positive upward momentum if the price breaks the $13 and $17 barriers. If the current resistances are broken, the altcoin will rise to a high of $19.50. It is the third best performing currency.
Current price: $10.38
Market capitalization: $10,377,221,067
Trading volume: $302,338,845
7-day profit: 13.10%
Earring
Pendle (PENDLE) price is currently in an uptrend and is part of a bull market. The rally stopped after it hit resistance at $7.29 on April 6. The cryptocurrency is trading sideways between $4.00 and $7.00. The bulls tried to break through the resistance level three times but failed. If the $7.00 resistance level is broken to the upside, the altcoin will rise to a high of $10.61.
PENDLE is trading at $5.61, which is between the moving average lines. PENDLE is the fourth best performing cryptocurrency and has the following features:
Current price: $5.64
Market capitalization: $1,458,322,788
Trading volume: $110,472,015
7-day profit: 12.81%
Maker
Maker (MKR) price is in an upward correction as it recovers from its previous decline. The cryptocurrency has seen another decline and fell after reaching resistance at $4,075. The altcoin has fallen to a low of $2,077 before recovering above the $2,100 mark. However, based on the price signal, MKR is expected to fall further to a low of $1,520. Today, the uptrend is being challenged by the 21-day SMA or the $2,550 resistance zone. This indicates that the value of the cryptocurrency will continue to fall.
MKR is the fifth best performing cryptocurrency. It has the following features:
Current price: $2,393.86
Market capitalization: $2,407,528,257
Trading volume: $114,596,252
7-day profit: 1.18%
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrencies and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
