Weekly Cryptocurrency Market Analysis: Altcoins Rise Steadily But Remain Stuck At The Barrier

The following cryptocurrencies are currently moving sideways after failing to break above their current highs. Weekly cryptocurrency analysis of Onyxcoin, Jupiter, MANTRA, KuCoin Token and GateToken brought to you by Coinidol.com.

Cryptocurrencies are fluctuating in anticipation of the ongoing uptrend. Although some altcoins have surpassed their current highs, they have failed to gain.

Onyxcoin

Onyxcoin (XCN) is currently in a vertical ascent. The altcoin has risen from a low of $0.00283 to a high of $0.0493. The upside momentum could not be sustained and XCN quickly fell below the $0.04 support. The cryptocurrency is oscillating above the $0.03 support but below the $0.04 resistance.

If the bulls break through the $0.03 resistance, the altcoin will rise to a high of $0.079. In the meantime, the altcoin is gaining momentum and approaching the $0.04 threshold. 
XCN is the best performing cryptocurrency. 

It has the following characteristics:

The current price: $0.03289

Market capitalization: $1,012,808,678.11

Trading volume: $958,189,929.99

7-day gain: 138.04%

Jupiter

Jupiter (JUP) has been moving sideways since April 13, 2024. JUP is oscillating above the moving average lines but below the resistance level of $1.40. 

Today, the uptrend peaked at $1.25 before reversing. The long wicks of the candles appear when the upward momentum reverses. These candle wicks indicate significant selling pressure at higher price levels. 

On the upside, if the current barrier is broken, the market will return to its high at $1.80. 

JUP is the secondbest performing cryptocurrency.

The current price: $1.20

Market capitalization: $2,009,999,271.59

Trading volume: $1,187,831,624.09

7-day gain: 35.20%

MANTRA

The price of MANTRA (OM) is in a sideways trend after the uptrend was halted at a high of $4.32. The sideways movement was broken when the altcoin rose to a high of $5.08. The upward momentum was again resisted when the altcoin fell below the $5.00 mark. 

On the upside, the market is characterised by extended candlestick wicks resisting upward price movement. Price action has remained below recent highs as the altcoin continues to fluctuate.

The current price: $4.64

Market capitalization: $4,462,376,138.62

Trading volume: $237,210,137.46

7–day gain: 33.49%

KuCoin Token

The KuCoin Token (KCS) price has recovered from its previous low. The bullish momentum surpassed the previous high of $13.82 but could not sustain the positive trend. The altcoin has retreated, although it is still above the current level of $14.00. If the current support holds, the altcoin will reach a high of $16. 

However, if the bears break below the current support, the altcoin will trade above the moving average lines but below the recent high. 

KCS is the fourth best performing cryptocurrency. Here are some of its characteristics.

The current price: $14.04

Market capitalization: $1,721,813,542.26

Trading volume: $9,046,559.4

7–day gain: 27.57%

GateToken

GateToken (GT) is in a steady uptrend. The crypto price has a pattern of higher highs and higher lows. The cryptocurrency rose to a high of $25.94 before falling back. 

Today, GT has resumed its upward momentum, although it is stuck at the high of $26. The current uptrend will continue once it breaks above the $26 resistance. However, the trend will end if it reverses and falls below the moving average lines. 

The fifth best performing cryptocurrency is GT.

The current price: $24.68

Market capitalization: $2,189,869,316.76

Trading volume: $40,567,367.67