3 Altcoins That Could Witness Growth This Week

The altcoin market peaked at $1.462 Trillion by March 14th, 2024, but has been going sideways since then like the larger crypto market.

After peaking at $1.462 Trillion on March 14, 2024, the altcoin market has been largely moving sideways, following the broader crypto market trend.

However, altcoins showed signs of recovery after consolidating in response to the April 2024 Bitcoin halving, leading to a rise to the $1.387 Trillion level by June 6, 2024.

But, further talk of an altcoin season was put to rest as the altcoin market cap began to decline from June 7, 2024, mirroring BTC’s trend.

According to data from Coingecko at the time of writing, the altcoins market cap stood at $1.029 Trillion, and the decline caused several altcoins in the top 100 to hit multi-month lows. In fact, only 4 cryptos managed to show gains over the past week.

4 Cryptos That Showed Gains This WeekOut of the 4 cryptos that managed to gain, one appeared to be a gold-backed stablecoin, Tether Gold (XAUT), ranked 93rd, showing a weekly price surge of 2.41%. So, excluding XAUT, 3 altcoins showed gains this week.

As every investor and trader knows, every big dip presents an opportunity. Hence, many investors are now looking for the next crypto to explode, especially considering that the crypto verse market has yet to peak.

Let’s quickly scan the price charts of these three altcoins and see why they are trending this week and if their price is likely to show further growth in the coming week.

Over the past seven trading days, the MultiversX (EGLD) crypto showed the highest gains of 11.73% and is the top gainer. At the same time, the crypto with the least gains on the list is Notcoin (NOT) (5.44% gain).

What Do EGLD, OM, and NOT Show on the Daily Chart?MultiversX (EGLD) showed bullish signs and great potential as it gradually rose higher. Despite the bearish trend, it performed well last week with a 12.47% surge.

However, the MACD and RSI indicators support this bullish trend, with resistance levels at $37.01 and $45.01. Failing to do so could lead to a drop towards the $22.01 mark.

The Mantra (OM) crypto rose this week with a 8.27% growth. Intraday, it met a high volume-based volume profile resistance. Since it has been trading in a volume profile-based support and resistance, the move could be epic on the daily chart.

Therefore, if it goes higher, it could ascend to $1.10. However, if it declines, it could reach $0.713. The indicators are giving bullish signs, and the 50-day and 200-day EMAs back the price. While the MACD produced a bullish cross with a rising histogram, the RSI flashed at 54.79.

In the last couple of trading session by Sam_TCR on TradingView.com

Notcoin (NOT) broke out from the falling wedge pattern and looks primed for a sharp rise. The RSI has been recovering from oversold to overbought regions.

Therefore, on the run, it could hit the $0.0216 and $0.0265 hurdles. While failing to rise, it could drop to lower levels and end the pattern.

The above is the detailed content of 3 Altcoins That Could Witness Growth This Week. For more information, please follow other related articles on the PHP Chinese website!