The best-performing altcoins are trading above the moving average lines as the crypto market returns to its previous highs.
The bulls are trying to keep prices high, while the bears are selling on recoveries.
Mantle
Mantle (MNT) is trading higher despite maintaining a sideways pattern. The cryptocurrency has risen to the expected price level of 2.0 Fibonacci extension or $1.13. Currently, the cryptocurrency has retraced to its current support level of $1.06. MNT’s uptrend will continue if the existing support holds. The price of the altcoin will rise to its high of $1.42.
However, the long candlestick wicks at the recent high indicate significant selling pressure. MNT is the best performing cryptocurrency.
The current price: $1.06
Market capitalization:$3,595,738,928.81
Trading volume: $349,522,899.09
7-day gain: 54.24%
Aerodrome Finance
The price of Aerodrome Finance (AERO) is in an uptrend and has risen to a high of $1.29. According to the price indicator, the altcoin is expected to rise further.
On June 2, the candlestick body reached the 38.2% Fibonacci retracement level. The retracement predicts that AERO will rise to the Fibonacci extension of $2.618 or $1.59. The altcoin has currently peaked at $1.24. The rising trend has come to an end at $1.30. A breakthrough above the current barrier will drive the altcoin to a new high of $1.60. AERO is the second most successful cryptocurrency.
The current price: $1.23
Market capitalization: $1,084,170,387.8
Trading volume: $254,313,223.46
7-day gain: 52.59%
Pendle
Pendle (PENDLE) is currently in an uptrend and has broken above the moving average lines. The cryptocurrency price is forming a series of higher highs and higher lows. The cryptocurrency reached a high of $5.82 before falling back. The price indication has shown that the cryptocurrency will continue to rise. On July 28, the body of the candle tested the 61.8% Fibonacci retracement level. The retracement indicates that PENDLE will reach the high of $6.92 at the 1.618 Fibonacci extension level.
The current price: $5.56
Market capitalization: $931,967,709.41
Trading volume: $207,233,678.28
7–day gain: 47.25%
Ethena
The price of Ethena (ENA) is recovering from the bottom of its chart after rising above the moving average lines. The uptrend culminated in a high of $0.744. The price indicator predicts that the altcoin will rise but then reverse at the 1.272 Fibonacci extension or the high at $0.789. The uptrend has stalled below the $0.80 level. If the altcoin breaks above $0.80, it will resume its upward trend. ENA is the fourth best performing altcoin.
The current price: $0.7420
Market capitalization: $4,914,125,210.51
Trading volume: $1,644,627,035.79
7–day gain: 43.03%
LidoDAO
The price of LidoDAO (LDO) has recovered from the bottom of its chart after being trapped between moving average lines. The price of the cryptocurrency broke through the 21-day SMA and rose above its previous high of $1.25. The altcoin reached a high of $1.36 but has since fallen below $1.35. The altcoin is trading sideways below the $1.35 level. The extended candlestick wicks are signalling significant selling pressure at the recent high.
The current price: $1.31
Market capitalization: $1,175,528,036.12
Trading volume: $337,650,944.87
7–day gain: 43.03%
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
