While Bitcoin is moving back up to the psychologically important price level of $20,000, the altcoins below it have moved up to their previous highs. The following cryptocurrencies have broken through their moving averages and are about to start moving up again.
Celsius
The price of Celsius has crossed above the moving averages, indicating an uptrend. When the price bars are above the moving averages, the cryptocurrency tends to go up. After a price spike, the altcoin got back on track on June 15 and reached its all-time high of $2.57.
Celsius moved back above the line that shows the 21-day moving average and started going up again. At the time of writing, the price has reached a high of $1.49. CEL/USD is above the 40 percent area of the daily stochastic. If the uptrend continues, the cryptocurrency could reach its previous high of $3.66. In the last week, it has done better than any other cryptocurrency. It is made up of the following things:
Price: $1.41
Market capitalization: $983,965,834
Trading volume: $56,428,195
7-day gain: 379.34%
Storj
As the price of Storj (STORJ) breaks above the moving averages, it is in an upward trend. On May 12 and June 13, the price of the cryptocurrency was as low as $0.35. The altcoin got better after the retest and broke above the moving averages.
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On June 17, an uptrending candle with a retraced body hit the 38.2% Fibonacci retracement level. Fibonacci’s retracement level of 2.618 (or $0.83) indicates that STORJ will likely increase to this level. On the Relative Strength Index for the last 14 days, the altcoin is at level 66. The cryptocurrency is in a downtrend, which means it could go down even more. The cryptocurrency STORJ has done the second best over the past week. It is made up of the following things:
Price: $0.76
Market capitalization: $321,862,425
Trading volume: $354,388,843
7-day gain: 114.26%
Synthetix
Since the price has crossed above the moving averages, Synthetix (SNX) is currently in an uptrend. Right now, there is a small retracement in the uptrend. If it goes down and finds support above the moving averages, the uptrend will keep going. But the downtrend will start again if it goes down and falls below the moving averages.
On June 20, a retraced candle showed that the uptrend hit the 78.6% Fibonacci retracement level. The retracement suggests that SNX will go up but will turn around at the 1.272 Fibonacci extension level, which is $3.97. Last week, SNX did the third best out of all the cryptocurrencies. It is made up of the following things:
Price: $3.17
Market capitalization: $668,036,137
Trading volume: $537,853,549
7-day gain: 63.31%
Attention Token Basic
Basic Attention (BAT) is going down, but it is correcting by going up. The price of the cryptocurrency has broken above the moving averages, but it is still struggling below the 50-day line SMA. If the price goes above the 50-day simple moving average (SMA), it will show that the uptrend has started again. The price of the altcoin will go up and get back to its previous highs of $0.66 and $1.00. In the meantime, the altcoin is traded between the moving average lines. When the moving average lines are broken, BAT will start to show a trend.
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The Relative Strength Index for period 14 shows that the altcoin is at level 54, which means it is in the uptrend zone and could go up even more. It is the fourth best-performing cryptocurrency over the past week. It is made up of the following:
Price: $0.3998
Market capitalization: $599,738,207
Trading volume: $146,012,832
7-day gain: 42.79%
Elrond
Elrond (EGLD) is falling, but it is making a correction up. The price of cryptocurrencies has broken through the SMA for 21 days and is getting close to the SMA for 50 days. If the price goes above the 50-day SMA line, the trend will keep going up. If the 50-day simple moving average (SMA) isn’t broken, Elrond will have to move between the moving averages. On the Relative Strength Index for the last 14 days, the altcoin is at level 48. It is in a downtrend and is getting close to an uptrend. It has done the fifth best out of all cryptocurrencies in the past week. It is made up of the following things:
Price: $63.12
Market capitalization: $1,969,430,509
Trading volume: $116,707,409
7-day gain: 31.34%
CoinIdol is not endorsing the author’s analysis and forecast, which are solely based on the author’s own beliefs and do not constitute an advice to buy or sell cryptocurrency. Before putting money into something, readers should do their homework.
