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3 Altcoin Biggest Gainers in July 2024 Second Week

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Contrary to last week’s performance, altcoins have registered notable upswings in the second week of July. While there are some astonishing entries, some stayed true to the wider expectations.

From BeInCrypto’s observations, Notcoin (NOT), Celestia (TIA), and MANTRA (OM) are the top three biggest gainers. This analysis explains how it happened and points out a few others who are in the class.

Notcoin (NOT) Breaks Out of the Descending Triangle

With a 42.25% increase in the last seven days, Telegram-based project Notcoin (NOT) is this week’s top gainer.

Currently, NOT trades at $0.014. Between June 4 and July 5, Notcoin’s price fell from $0.027 to $0.0094. Amid the 65.78% decrease, a descending triangle formed. Considered a bearish pattern, a descending triangle appears when a cryptocurrency hits a series of lower highs and lower lows.

This pattern exhibits weakness and indicates that bulls are no longer in control. However, the triangle can sometimes precede a breakout, as with Notcoin. 

According to the 4-hour chart, bulls observed that selling pressure became weak when the price reached $0.0094. In turn, they took advantage of the fatigue. Driven by higher demand, Notcoin reached $0.017 on July 8.

Notcoin altcoin biggest gainer
Notcoin 4-Hour Analysis. Source: TradingView

However, the Relative Strength Index (RSI), which measures momentum, shows that the altcoin became overbought as the reading crossed 70.00. At press time, the RSI reading has decreased, and it is the same with Notcoin’s price

If the momentum continues to fall, NOT will likely follow in a similar direction. If this is the case, the price may drop to $0.012. However, if buying pressure increases, the value of the biggest altcoin gainer may reverse toward $0.016.

Read More: Notcoin (NOT) Price Prediction 2024/2025/2030

Celestia (TIA) Gains 35% For the First Time In Months

Earlier in the week, we reported how Celestia (TIA) broke out of a five-month downtrend after reaching its lowest point since November.

The breakout resulted in TIA being the second biggest altcoin gainer of July’s second week. Within the last seven days, TIA’s price increased by 35.04%.

According to the daily chart, the token was oversold around the last week of June. This was shown by the Money Flow Index (MFI). Usually, when the MFI is over 80.00, the crypto involved is overbought.

On the other hand, readings at 20.00 or below mean it is oversold. During the week, the MFI climbed, indicating that TIA experienced increased capital deployed. This buying pressure was one of the rationales for the price hike.

TIA price increases, altcoin gainer
Celestia Daily Analysis. Source: TradingView

While the price decreased to $6.62, the MFI is on the brink of jumping past the neutral line. If successful, TIA will revisit $7 within a short period. If not, the token will approach $6.06.

MANTRA (OM) Is Again Part of the Heavyweights 

MANTRA (OM) was one of the biggest altcoin gainers in the first week of July 2024. Thanks to its 32.05% seven-day increase, it makes a second consecutive appearance.

At press time, OM trades at $1.03. Unlike the other two altcoins mentioned above, MANTRA is maintaining the uptrend.

Analysis shows that strong support at $0.74 was instrumental to the token’s break of the $0.90 resistance. By forming an ascending channel may be on the verge of reaching $1.10. This is also backed by the Awesome Oscillator (AO).

The AO measures momentum using the difference between the 34-period Simple Moving Average (SMA) and the 5-period.

MANTRA gains again in July 2024
MANTRA Daily Analysis. Source: TradingView

Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

Positive values indicate increasing upward momentum, while negative ones suggest otherwise. As of this writing, the rating remains positive, hinting at a further uptrend. 

If this trend continues, OM’s price will reach close to $1.10. If not, the altcoin may drop back to $0.90.

In addition, other gainers of the week include Optimism (OP) — the token of the Ethereum layer-2, Conflux (CFX), and Ronin (RON).

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Ready to Rally? Signs Point to a Bullish Move

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Solana (SOL) Rallies Strongly, Setting Sights on $200

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Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level.

  • SOL price started a fresh increase after it settled above the $165 level against the US Dollar.
  • The price is now trading above $172 and the 100-hourly simple moving average.
  • There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could continue to rise if it clears the $192 resistance zone.

Solana Price Starts Fresh Rally

Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels.

There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high.

Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level.

Solana Price

The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level.

Another Dip in SOL?

If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level.

A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $188 and $185.

Major Resistance Levels – $192 and $200.



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Will Bulls Push It Higher?

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Ethereum price started a fresh surge above the $2,650 resistance. ETH is up over 10% and might aim for a move above the $2,850 resistance.

  • Ethereum started a fresh surge above the $2,650 resistance zone.
  • The price is trading above $2,700 and the 100-hourly Simple Moving Average.
  • There is a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise if it settles above $2,850 and $2,880.

Ethereum Price Extends Surge

Ethereum price started a fresh increase above the $2,550 resistance like Bitcoin. ETH was able to climb above the $2,550 and $2,650 resistance levels to move into a positive zone.

It even surged above the $2,720 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,800. A high is formed at $2,848 and the price is showing signs of more upsides. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,357 swing low to the $2,848 high.

Ethereum price is now trading above $2,700 and the 100-hourly Simple Moving Average. There is also a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,850 level. The first major resistance is near the $2,880 level. The main resistance is now forming near $2,950. A clear move above the $2,950 resistance might send the price toward the $3,000 resistance.

Ethereum Price
Source: ETHUSD on TradingView.com

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone.

Are Dips Supported In ETH?

If Ethereum fails to clear the $2,850 resistance, it could start a downside correction. Initial support on the downside is near the $2,800 level. The first major support sits near the $2,720 zone and the trend line.

A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,850

Major Resistance Level – $2,720



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