The cryptocurrency market has experienced a surge in BTC prices, with a 27% increase up to $68270 from July 5th onwards. This bullish trend has also reflected on other cryptocurrencies, showcasing gains and losses among the top crypto assets. Last week, BTC pulled back to the 200-day EMA support, followed by a 5% surge in a 2-day green candle.
This week’s top crypto gainers include Cat in a dogs world (MEW), Helium (HNT), SATS (SATS), and Flow (FLOW). These cryptocurrencies have shown positive performance in the past week, indicating potential for further gains on the daily chart. A closer look at the technical analysis of these top gainers can provide insights into their future performance on the market.
MEW has shown a volatile range since its launch, with a descending triangle pattern forming over the 1-D chart. Despite a surge of over 135% in the past two weeks, the token has displayed strong indicators, including backing from the 50-day EMA band and a bullish crossover on the MACD. The RSI is currently at 69.43, indicating a potential bullish push ahead. Resistance and support levels for MEW are at $0.0088, $0.0099, $0.0062, and $0.0048, respectively.
HNT has exhibited bullishness on the daily chart, with consistent green candles and a significant spike in price. The cryptocurrency gained over 700% to $11.160 from $1.429, forming a falling wedge pattern after a period of profit booking. However, a breakout in July led to a surge of over 75% on the daily chart. The support levels for HNT are at $3.01 and $4.24, while resistance levels are at $6.91 and $8.01.
SATS has risen over 200% in the past three weeks, showing positive market sentiment on the daily chart. The cryptocurrency breached the 50-day EMA and displayed bullish indicators, including a bullish cross on the MACD and a RSI above the zero line. Resistance levels for SATS are at $0.0000003486 and $0.0000003893, while support levels are at $0.0000002524 and $0.0000001534.
FLOW experienced a surge of over 300% from October 2023 to mid-March 2024, followed by a three-month profit-taking spree. The cryptocurrency broke above the upper boundary of a wedge pattern, with resistance levels at $0.820 and $1.00. If the price falls below the pattern, the bullish sentiment could diminish, driving the price down to support levels at $0.60 and $0.40. Overall, the sentiment for FLOW has turned bullish, with the breach of the 50-day orange band EMA, bullish RSI, and MACD indicators.
