Weekly Analysis Of The Cryptocurrency Market: Altcoins Pull Back After Recent Rally

The cryptocurrencies listed below are recovering after hitting their respective price lows.

CRO and ZEC have risen above the moving average lines and are ready to resume their uptrend. Others are trading below or between the moving averages. 

Cronos

The price of Cronos (CRO) rose above and crossed above the moving average lines on March 24. The high of $0.1200 stopped the positive momentum. CRO has risen above the moving average lines and is oscillating above the moving average lines but below the barrier at $0.1100 after a pullback.

Resistance at $0.1100 is being crossed by extended candlestick wicks. This indicates that there was significant selling pressure at the recent high. The altcoin will continue its uptrend once it breaks above the current barrier. The coin that has performed the best is CRO.

The current price: $0.1046

Market capitalization: $2,782,963,342.34

Trading volume:  $74,615,574.21

7-day gain: 30.41% 

Zcash

Zcash (ZEC) fell below the moving average lines and rose above them. The asset's upswing has continued below the $40 resistance but above the moving average lines. ZEC will resume its uptrend once it breaks above the $40 level. The altcoin is currently trading above the moving average lines but is still below the $40 level. The second best performing coin is Zcash.

The coin with the second-best performance is Zcash. It possesses the following qualities: 

The current price: $36.13

Market Capitalization: $574,236,100.4

Trading Volume:  $60,827,066.18

7–day Gain: 17.00%

Core

The prices of Core (CORE) are shown in the lower part of the chart. The recovery was hindered by the moving average lines. The 50-day SMA kept the crypto price from rising above the 21-day SMA.

Since March 19, the crypto price has been stuck between the moving average lines. CORE will continue its uptrend until the price breaks above the 50-day SMA or the barrier at $0.50. The highs of $0.70 and $1.00 will be reached by the bullish momentum. The third best performing coin is CORE.

The current price: $0.4747

Market capitalization: $474,054,365.96

Trading volume:  $474,054,365.96

7-day gain: 12.03%

Render

The price of Render (RENDER), after recovering recently, has fallen below the moving average lines. The cryptocurrency was between the moving average lines. It is below the 50-day SMA resistance but above the 21-day SMA support. RENDER, currently trading at $3.52, is trapped between the moving average lines. If the bulls break the barrier at $4.00 and the 50-day SMA, the altcoin will trend higher. The fourth best performing cryptocurrency is RENDER.

These are a few of its characteristics.

The current price: $3.51

Market Capitalization: $1,819,255,462.17

Trading Volume: $54,811,023.24

7–day Gain: 6.13%

Sui

The price of Sui (SUI) has fallen below the moving average lines but has recovered above the 50-day SMA. SUI is currently trading at $2.36, above the 50-day SMA but below the 21-day SMA barrier. The $3.00 resistance area is the first obstacle to the upside. If the buyers push the price above the 21-day SMA, SUI will rise above the moving average lines. The altcoin will reach the $5.35 level.

The fifth best performing cryptocurrency is SUI. 

The current price: $2.36

Market Capitalization: $7,484,677,803.93

Trading Volume: $760,515,186.65

7–day Gain: 3.83%

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.