The cryptocurrencies are trading in the bullish trend zones. The altcoins appear to resume upward after a minor retracement. The above altcoins will resume uptrend if the current resistance levels are breached. Let us examine each of the strongest altcoins for the week.
Chiliz
Chiliz’s (CHZ) price is in an uptrend as the crypto rallied to the high of $0.235. The cryptocurrency is retracing as it reaches the overbought region. The current uptrend may have reached bullish exhaustion.
Meanwhile, on the August 1 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.0 Fibonacci extension or $0.227. The altcoin is below the 80% range of the daily Stochastic. It indicates that the coin is in a bearish momentum.CHZ is the strongest altcoin for the week. It has the following characteristics:
The current price: $0.1983
Market Capitalization: $1,756,557,982
Trading Volume: $612,500,700
7–day Gain/Loss: 24.09%
Celsius
Celsius (CEL) price is in an uptrend as it rallied to the high of $4.63. The first uptrend has been terminated as the altcoin retraced to the $2.16 low. The uptrend will resume if price breaks above the resistance at $4.63.
Meanwhile, on the August 15 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement suggests that the altcoin will rise to level 2.618 Fibonacci extension or $10.42. The altcoin is at level 58 of the Relative Strength Index for period 14, CEL is in the uptrend zone and may further rise.CEL is the second-strongest altcoin in the week. It has the following characteristics:
The current price: $2.68
Market Capitalization: $1,867,143,254
Trading Volume: $25,682,520
7–day Gain/Loss: 8.95%
UNUS SED LEO
UNUS SED LEO ( LEO) is in an upward correction as price breaks above the moving average lines. The bulls could not sustain the bullish momentum above the 50-day line SMA. The crypto’s price is now fluctuating between the moving average lines.
The altcoin will trend when the moving average lines are breached. For instance, if price breaks below the 21-day line SMA, the altcoin will decline to the previous low at $4.70.The altcoin is above the 80% range of the daily stochastic. It indicates that LEO is in a bearish momentum. However, LEO is the third- strongest altcoin in the week. It has the following features:
The current price: $5.19
Market Capitalization: $5,096,823,478
Trading Volume: $3,176,431
7–day Gain %: 8.35%
EOS
EOS (EOS) price is in an upward correction as price breaks above the moving average lines. The cryptocurrency rallied to the high of $1.60 but pulled back to the low of $1.25. The altcoin will continue to rise as long as the price bars above the moving average lines.
On the upside, if the bulls breach the resistance at $1.60, EOS will rally to $2.20. However, the bullish scenario will be invalidated if price breaks below the moving average lines. Meanwhile, the altcoin is at level 55 of the Relative Strength Index for period 14. It indicates that the altcoin is in the bullish trend zone and may rise. It is the fourth- strongest altcoin in the week. It has the following characteristics:
The current price: $1.33
Market Capitalization: $1,420,899,301
Trading Volume: $689,043,871
7–day Gain/Loss: 1.55%
Gnosis
Gnosis (GNO) is in an upward correction as price breaks above the moving average lines. The crypto’s price is making a series of higher highs and higher lows. The coin rallied to the high of $202 and pulled back. The resistance level at $202 is the historical price level of June 7.
The uptrend will resume if the resistance is breached. A break above the resistance will propel the coin to reach the high of $240. Meanwhile, the altcoin is at level 58 of the Relative Strength Index for period 14. It indicates that the altcoin is in the bullish trend zone and may rise. It is the fifth best- strongest altcoin in the week. It has the following characteristics:
The current price: $183.79
Market Capitalization: $1,837,913,636
Trading Volume: $23,713,442
7–day Gain/Loss: 0.80%
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