The altcoins below are trading above the moving average lines. The upward moves have been hindered as the altcoins continue to face selling pressure at higher price levels. The cryptos have retraced above the moving average lines as buyers continue to battle the overhead resistance levels. Let us examine each of the strongest altcoins for the week.
eCash
eCash (XEC) is trading in the bullish trend zone as price breaks above the moving average lines. The crypto has retraced and it is fluctuating above the moving average lines. The altcoin will further rise as long as the price bars above the moving average lines.
Meanwhile, on the August 29 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.618 Fibonacci extension or $0.00008996. The altcoin is below the 40% range of the daily Stochastic. It indicates that the market is in a bearish momentum. XEC is the strongest altcoin in the week. It has the following characteristics:
The current price: $0.00004542
Market Capitalization: $953,826,953
Trading Volume: $32,932,943
7–day Gain/Loss: 23.18%
Lido DAO
Lido DAO (LDO) price is in an uptrend as price breaks above the moving average lines. In the first uptrend, the altcoin was repelled at the $3.00 overhead resistance. The bears broke below the moving average lines as bulls bought the dips.
Today, buyers are struggling to keep the price above the moving average lines. On the upside, if price breaks above the moving average lines, the altcoin will rise and retests the $3.00 overhead resistance. The altcoin is at level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand.LDO is the second-strongest altcoin in the week. It has the following characteristics:
The current price: $2.08
Market Capitalization: $2,075,474,139
Trading Volume: $177,406,936
7–day Gain/Loss: 20.08%
Litecoin
Litecoin (LTC) is in an uptrend as price breaks above the moving average lines. The uptrend has been facing an overhead resistance at the high of $60. Buyers have not been able to sustain the bullish momentum above the recent high.
Today, the bulls have breached above the moving average lines. The market will rise and reach the high of $70 if the bullish momentum is sustained. However, a further upward move is doubtful as the market approaches the overbought region. The altcoin is above the 80% range of the daily stochastic. It indicates that LTC has reached the overbought region of the market. The coin is likely to decline as sellers emerge in the overbought region. However, LTC is the third- strongest altcoin for the week. It has the following features:
The current price: $61.29
Market Capitalization: $5,148,325,924
Trading Volume: $784,133,365
7–day Gain %: 14.92%
Polygon
Polygon(MATIC) price is in an uptrend as the altcoin faces rejection at the $1.00 overhead resistance. In the first uptrend, the altcoin was repelled thrice as buyers attempt to keep the price above the overhead resistance.
On the August 14 rejection, the altcoin declined below the moving average lines. On the upside, if buyers overcome the resistance at $1.00, Polygon will further rise to the high of $1.20. Meanwhile, the altcoin is at level 54 of the Relative Strength Index for period 14. It indicates that MATIC is in the bullish trend zone and may rise. It is the fourth- strongest altcoin in the week. It has the following characteristics:
The current price: $0.8737
Market Capitalization: $8,739,058,151
Trading Volume: $8,739,058,151
7–day Gain/Loss: 14.21%
Cosmos
Cosmos(ATOM) is in a smooth uptrend. The crypto’s price is making a series of higher highs and higher lows. The current uptrend is facing rejection at the recent high. The price movement is being hindered at the $13 high. The uptrend will resume if the current resistance is breached.
Also, ATOM will continue to rise as long as the price bars are above the moving average lines. The uptrend will terminate if the bullish trend line is breached. Meanwhile, the altcoin is at level 57 of the Relative Strength Index for period 14. It indicates that the altcoin is in the bullish trend zone and may rise. It is the fifth-best- strongest altcoin for the week. It has the following characteristics:
The current price: $12.50
Market Capitalization: $3,578,897,223
Trading Volume: $351,602,812
7–day Gain/Loss: 13.51%
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