The crypto market keeps getting touchy and challenging for most crypto traders and investors, with the market being hit virtually every week with bad news that sends the price of most altcoins to their weekly lows.
Recently, the price action displayed by many altcoins has been problematic as many altcoins battle for survival. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks. Here are the top 3 altcoins that have performed better during the week. (Data from Binance)
Litecoin (LTC) Price Analysis On The Daily Chart
Daily LTC Price Chart | Source: LTCUSDT On Tradingview.com
Most crypto traders and investors have had a rough few days, with many concerned about where the market is headed after so much turbulence in the crypto space. Many altcoins have struggled to show strength, losing key support in a bid to survive.
The current market uncertainty has caused traders and investors to be hesitant to purchase altcoins, as there is no guarantee that they will rise in value any time soon. LTC has shown itself as a stand-up performer over the past few weeks and days.
The price of LTC on the daily chart has shown bullish strength despite the market uncertainty that has affected major crypto projects that have continued to build in this bear market, and more FUD (fear of uncertainty and doubt) persists. LTC saw its price traded in a region of $60 on the daily chart. Still, the price bounced off this region as LTC’s price rallied to a high of $80 before facing a minor resistance to trend higher. If the price of LTC holds above $75, we could see more rally to a region of $90.
Top 3 Altcoins – Price Analysis Of Curve DAO (CRV) On The Daily (1D) Chart
Daily CRV Price Chart | Source: CRVUSDT On Tradingview.com
The price of CRV remains considerably strong in the daily timeframe as the price trades above $0.65 support after the price bounced off from its daily low of $0.4.
CRV’s price trades at $0.7 below its 50 and 200 EMA, acting as resistance for the price of CRV. The price of $0.77 and $1.2 corresponds to the prices at these levels, acting as resistance.
If the price of CRV breaks and holds above $0.8, we could see more rallies for the CRV price to a region of $1.2, where the price could face resistance to trend higher.
Price Analysis Of Zcash (ZEC) On The Daily (1D) Chart
Daily ZEC Price Chart | Source: ZECUSDT On Tradingview.com
The price of ZEC remains considerably strong in the daily timeframe as the price trades above $40 support after the price bounced off from its daily low of $30.
ZEC’s price trades at $42 below its 50 and 200 EMA, acting as resistance for the price of ZEC. The price of $49 and $70 corresponds to the prices at these levels, acting as resistance. The price of ZEC needs to break this region for more signs of relief.
Featured Image From zipmex, Charts From Tradingview