In stark contrast to their performance last week, altcoins have posted substantial gains in the second week of July. Notcoin (NOT), Celestia (TIA), and MANTRA (OM) emerged as the top performers during this period. This article delves into the price movements and technical analyses of these cryptocurrencies, highlighting the pivotal levels and patterns observed.
How Did Notcoin Perform?
Notcoin (NOT) emerged as the leading gainer, experiencing a 42.25% increase in value over the past seven days, reaching $0.014. Despite previously forming a descending triangle and declining by 65.78%, Notcoin witnessed a breakout as the selling pressure subsided. This led to a surge in demand and an increase in price to $0.017 by July 8.
What Impacted Celestia’s Price?
Celestia (TIA) broke free from a five-month downtrend, becoming the second-largest altcoin gainer with a 35.04% rise. The token was oversold at the end of June, as indicated by the Money Flow Index (MFI). If the MFI crosses the neutral line, TIA could revisit $7. Otherwise, it risks falling to $6.06.
Significant Inferences:
- Notcoin’s breakout highlights the importance of monitoring descending triangles for potential reversals.
- Celestia’s performance underscores the significance of the Money Flow Index in predicting price movements.
- MANTRA’s ascending channel suggests that tokens with strong support levels can sustain upward trends.
MANTRA (OM) continued its upward trajectory with a 32.05% increase, trading at $1.03. The token benefited from robust support at $0.74, enabling it to break resistance at $0.90. Should this trend persist, MANTRA could reach $1.10; otherwise, it may fall back to $0.90.
In conclusion, the second week of July has proven lucrative for select altcoins, with Notcoin, Celestia, and MANTRA leading the charge. Investors should keep an eye on key technical indicators and support levels to gauge future movements.