Altcoins
Are these the best performing altcoins this week’s smart buy?
With a mixed start to the week, the weekend bull run suffers a small dip in some altcoins, while Bitcoin is stuck at $67,146. Amidst such a struggle, the top performing altcoins over the past 24 hours reflect a positive trend ahead. Will this recovery lead to a 2x or more increase this week? Let’s take a closer look at the price chart of these altcoins for a more in-depth analysis.
Top Performing Altcoins to Watch: Helium (HNT)
With a market cap of $800M, Helium secures its spot in the top 100 cryptocurrencies and one of the best-performing altcoins with an 8.57% increase on Sunday. Furthermore, the continued recovery of HNT price represents a 61% jump in the last 11 days.
In the daily log chart, HNT price reveals a rally breakout of the falling wedge pattern that is gaining momentum. However, the bull run faces opposition at the 50% Fibonacci level, resulting in a long-wick intraday candlestick.
Currently, Helium token price is trading at $5 and teasing a breakout of the 50% Fib level if the broader market recovers. Based on the Fib levels, the uptrend could reach the psychological level of $10.
Avalanche (AVAX)
Similar to Helium and other altcoins, AVAX price ends the correction phase with a falling wedge breakout rally. With a bounce from $23, Avalanche token price breaks above the 50-day EMA and challenges the 23.60% Fib level and the 200-day EMA.
Recovery rally weakens death cross and wedge breakout rally increases the possibility of bullish trend. Based on Fibonacci levels, AVAX price could reach $42 mark or 50% Fibonacci level, a 30% increase. However, a major trend reversal of this magnitude could pump AVAX, one of the best performing altcoins, to $60.
Celestia (TIA)
Visibly, in a correction phase, TIA price is showing a decline under the influence of a massive resistance trend line. Despite multiple rejections that led to a lower high formation, Celestia price has jumped 43% in the past two weeks, 11% on Sunday, to rank among the best-performing altcoins.
While the MACD and signal lines are avoiding a bearish crossover, TIA price is teasing a breakout of the trend line. With the breakout rally, the bull run in the altcoin could reach the $11,184 level or the 50% Fib level.