Weekly Cryptocurrency Analysis: Altcoins Continue Their Uptrend

24 views 7:53 am 0 Comments November 27, 2023

Blur, STEPN, Mina, Klaytn, and ApeCoin have recovered as the bulls have broken through further resistance levels.

Blur

Blur (BLUR) has resumed its upward movement above the $0.16 support and is in an uptrend. Currently, BLUR has reached a high of $0.59. The uptrend continues, and the altcoin could rise to $0.80.

Meanwhile, a candlestick body of the November 11 rally tested the 50% Fibonacci retracement level. The retracement suggests that BLUR will rise to the 2.0 Fibonacci extension level or $0.79. The target price level is the historical price level of April 23. However, the historical record has always remained intact to the upside. Furthermore, the continued upward movement of BLUR is speculative.

BLUR is the best-performing cryptocurrency and has the following characteristics:

  • Current price: $0.5898
  • Market capitalization: $1,768,958,881
  • Trading volume: $479,336,240
  • 7–day gain: 76.22%

BLURUSD_(Daily Chart) – NOV.26.jpg

STEPN

The price of STEPN (GMT) is rising as it resumes its uptrend. The bullish momentum has broken through the July 17 and June 4 historical price levels, respectively. At the time of writing, GMT is trading at $0.33. The altcoin is moving back above the June 4 price level. The uptrend will resume if it holds above the current support level of $0.32.

A range-bound rise will begin if the altcoin retraces and stays above the $0.28 support. The market price will move between $0.28 and $0.33. GMT, the second best-performing cryptocurrency, has the following advantages:

  • Current price: $0.3468
  • Market capitalization: $1,862,276,402
  • Trading volume: $421,448,376 
  • 7–day gain: 36.77%

GMTUSD_(Daily Chart) – NOV.26.jpg

Mina

Mina (MINA) is in a horizontal trend but is correcting upwards. The altcoin trades above the moving average lines but still above the support level of $0.60. MINA was forced into a horizontal trend when the rally failed on October 24. On October 24, the altcoin rose to a high of $0.97 before falling sharply. However, further gains in the cryptocurrency are capped at $0.75. Today, the bulls broke through the $0.75 resistance level. At the time of writing, MINA was trading at $0.87.

Having recently peaked, the altcoin is now on the retreat. If the altcoin pulls back and holds above the $0.75 mark, the uptrend will resume. MINA, the coin with the third highest value, has the following characteristics:

  • Current price: $0.7823
  • Market capitalization: $859,374,848
  • Trading volume: $206,110,348
  • 7–day gain: 31.04%

MINAUSD_(Daily Chart) – NOV.26.jpg

Klaytn

Klaytn (KLAY) is in an uptrend and has surpassed the historical price level of July 14. The altcoin rose to a high of $0.22 before falling back. The current rally is below the historical price level of May 5. Since November 23, buyers have been working feverishly to keep the positive momentum above the $0.23 resistance level. If the buyers are successful, the altcoin will rise to the next resistance level of $0.28. It is the fourth best-performing coin with the following characteristics:

  • Current price: $0.2201
  • Market capitalization: $1,288,217,856
  • Trading volume: $41,459,850
  • 7–day gain: 30.76%

KLAYUSD_(Daily Chart) – NOV.26.jpg

ApeCoin

ApeCoin (APE) trades above the moving average lines but is trending sideways. APE has traded between $1.30 and $1.55 since October 25. On November 25, the altcoin rallied and broke through the initial barrier of $1.55. APE reached a high of $1.70 before declining. The altcoin will continue to rise if it retraces and stays above the $1.55 support level. On the upside, the cryptocurrency is likely to increase further. If the resistance levels of $2.00 and $2.20 are broken, APE will increase to a high of $3.50. The fifth most profitable cryptocurrency is APE. The following characteristics characterize APE:

  • Current price: $1.69
  • Market capitalization: $1,687,908,870
  • Trading volume: $213,448,652
  • 7–day gain: 28.60%

APEUSD_(Daily Chart) – NOV.26.jpg