Several cryptocurrencies have broken through additional resistance levels and hit previous highs.
The altcoins listed below have reestablished a positive trend and continue to rise. The following altcoins in Coinidol.com’s weekly cryptocurrency market analysis are:
Celestia
Celestia (TIA) is in an uptrend after recovering and breaking above the 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 rose to a high of $7.50. On a positive note, the current bullish trend is likely to continue beyond the recent peak. If buyers break the resistance at $7.50, TIA will reach a high of $10.
Meanwhile, the altcoin has entered the market’s overbought territory. TIA is the best performing cryptocurrency and some of its features are:
Current price: $7.14
Market capitalization: $7,143,312,949
Trading volume: $462,466,244
7-day profit: 80.42%
Kaspa
Kaspa (KAS) is rising steadily. The cryptocurrency price is creating a series of higher highs and higher lows. The altcoin has reached the projected price of $0.12, which is the Fibonacci extension of 1.618. If the cryptocurrency enters the market’s overbought zone, further gains could be hampered.
Meanwhile, the uptrend has stalled at the high of $0.15. It is unclear whether the value of the altcoin will increase. 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 profit: 56.66%
Lend
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 falling due to overbought conditions. If the altcoin breaks the current barrier, it could surpass the $3.60 mark. If the price falls below the 21-day moving average, selling pressure will increase again. The third most valuable currency, RNDR, has the following characteristics:
Current price: $3.34
Market capitalization: $1,794,932,807
Trading volume: $280,152,165
7-day profit: 35.40%
avalanche
Avalanche (AVAX) is currently experiencing a rally as it overcomes its previous decline. The altcoin reached a high of $24 on November 16 and the bulls are breaking more resistance as the altcoin gains value. On the upside, the bulls are approaching the August 10 all-time price level of $30. A retraced candle body tested the 61.8% Fibonacci retracement level on the November 12 rally. The pullback 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 currency and has the following characteristics:
Current price: $21.27
Market capitalization: $15,312,914,482
Trading volume: $769,704,080
7-day profit: 33.44%
THORChain
THORChain (RUNE) is on the rise as it recovers from its previous downturn. Since October 19, the altcoin has been rising steadily. The altcoin is about to reach its peak price of $22.50 again. Today, the altcoin reached a high of $6.51 before falling again. 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 characterized by the following features:
Current price: $5.27
Market capitalization: $2,549,688,636
Trading volume: $342,050,215
7-day profit: 30.08%
A week ago, altcoins such as FTT, LUNA, KAS, IMX and RPL were the best performing cryptocurrencies, Coinidol.com reported on November 13.
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.
