This week, the cryptocurrency market is rising and testing the previous resistance levels.
The previous resistance levels are still in place as buyers cannot break above them. Selling pressure increased as cryptocurrency prices pulled back above the moving average lines. Now that the market is bearish, let's take a look at some altcoins.
Pepe
The price of Pepe (PEPE), which has returned above the moving average lines, is rising. The cryptocurrency peaked at $0.000004076 on May 5 but has been unable to sustain bullish momentum above that level. At the time of writing, the price is $0.000003133. The price of the cryptocurrency fluctuates below the recent high in anticipation of a breakout. The rally will start higher once the current resistance is broken. During the rally on May 5, a pulling candlestick tested the 38.2% Fibonacci retracement line. PEPE will rally to the 2.618 Fibonacci extension level or $0.000005491 after the pullback. The cryptocurrency is currently fluctuating below its last high. The altcoin's Relative Strength Index is at 68 for the period of 14. As it continues to rise, the overbought zone is getting closer. The current bullish momentum may end soon. PEPE is the most popular cryptocurrency this week. It has the following characteristics:
Actual Price: $0.000003222
Market capitalization: $1,363,514,659
Trade Volume: $2,659,860,007
7 day profit/loss: 1032.08%
FLOKI
FLOKI (FLOKI) price is currently moving sideways after suffering a collapse on May 5. The crypto asset suffered a bullish correction, but ended at a high of $0.00005000. The value of the coin is currently fluctuating below its last high. The bounce will begin when the recent high is broken. Furthermore, the selling pressure will resume if the current support level of $0.00004233 is broken. FLOKI is now available for the price of $0.00004408. The cryptocurrency is moving bearish below the daily stochastic barrier of 40. In terms of performance, FLOKI is the second best cryptocurrency. It has the following characteristics:
Actual Price: 0.00004397
Market capitalization: $879,409,189
Trade Volume: $401,246,726
7 day profit/loss: 17.35%
Casper
Casper (CSPR) is rising above its moving average lines. At the high of $0.065 on April 30, the uptrend was halted. At the current price of $0.058, there is a pullback towards the moving average lines. The uptrend could continue if it goes back above the moving average lines. According to the price indicator, the cryptocurrency could rise for the time being. During the rally on April 16, a pulled back candlestick tested the 38.2% Fibonacci retracement line. According to the retracement, CSPR will go to the 2.618 Fibonacci extension level or $0.066. The altcoin is currently trading above the moving average lines. If the sellers break below the moving average lines, the bullish situation will be discredited. Below the daily stochastic threshold of 80, the cryptocurrency is in a bearish moment. The following characteristics apply to CSPR, the third best performing cryptocurrency:
Actual Price: $0.058
Market capitalization: $687,567,239
Trade Volume: $14,389,179
7 day profit/loss: 11.56%
rocket pool
Rocket Pool (RPL) is in an uptrend evidenced by a series of higher highs and higher lows in the price of the cryptocurrency. At the $60 resistance, the uptrend is restrained. Buyers have been unable to hold the price above the $60 high since February 5. Three times buyers who tried to break the recent high have been turned away. The cryptocurrency is currently trading above the moving average lines at $51. If the altcoin sustains above the moving average lines, the uptrend will begin. If the price moves below the moving average lines, a downtrend will begin. CRO is the fourth best cryptocurrency and has positive momentum above the daily stochastic threshold of 50. These describe its characteristics.
Actual Price: $51.07
Market capitalization: $987,478,771
Trade Volume: $9,220,949
7 day profit/loss: 9.77%
TRON
The price of TRON (TRX) has been moving sideways since February 20. The cryptocurrency asset peaked at $0.072 before being rejected. Above the $0.064 support, the altcoin fell and began to consolidate again. The altcoin was pushed back again when it attempted to test the $0.072 resistance area today. The market is overbought at the $0.072 resistance area. The overbought area is resisting the bullish movement of TRON. TRON is currently trading at $0.070. The crypto is likely to fall further as it faces resistance in the overbought area of โโthe market. At the 66 level of the Relative Strength Index for the period 14, the cryptocurrency is in the uptrend zone. The altcoin has reached the point where the market is overbought, but it could fall. The fifth best performing cryptocurrency, TRX, has the following characteristics:
Actual Price: $0.07044
Market capitalization: $6,380,226,790
Trade volume: $211,696,710
7 day profit/loss: 12.25%
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. Readers should do their research before investing in funds.
