Altcoins Struggle to Break Recent Highs
Despite being on the rise, cryptocurrencies are struggling to break through recent highs. Let’s take a closer look at some of these virtual currencies.
Manta Network
The price of Manta Network (MANTA) is moving vertically. It rose to a high of $6.29 before falling back, but now it’s on an upward movement as the positive momentum continues. The current trading price is $2.85, and it’s expected to reach a high of $6.29. However, the presence of doji candlesticks has delayed the price movement. MANTA is currently the best performing cryptocurrency with a 7-day gain/loss of 27.48%.
Ronin
Ronin (RON) is experiencing an upswing after recovering from its previous downturn. It reached a high of $2.53 before falling again, but now it’s rising to test the overhead resistance level. If the bulls break through this barrier, RON will rise to a high of $3.05. Currently, it’s selling at $2.29 and has a 7-day gain/loss of 19.50%.
Siacoin
Siacoin (SC) is recovering from its recent decline and pulling back after hitting a high of $0.013. The uptrend is expected to continue if the price retraces above the 21-day SMA and may peak at $0.040. On the upside, if the current resistance is broken, the market will peak at $0.018. The current price is $0.01126, and SC has a 7-day gain/loss of 41.95%.
Frax Share
Frax Share (FXS) experienced an earlier rise but is now trapped in a horizontal movement. It’s struggling to break through the $10 price barrier and is currently trading between $8 and $10. FXS has a 7-day gain/loss of 12.68%.
Maker
Maker (MKR) is in an uptrend and reached a high of $2,200 before falling back above the 21-day SMA. The uptrend has now resumed, and if the current resistance of $2,200 is overcome, MKR will rise to a high of $2,372. Currently, it’s trading at $2,098.27 with a 7-day gain/loss of 3.94%.
Hot Take: Altcoins Face Resistance Despite Positive Momentum
Altcoins are facing resistance despite their positive momentum. Cryptocurrencies like Manta Network, Ronin, Siacoin, Frax Share, and Maker are struggling to break through recent highs. While they have shown upward movements and potential for growth, various factors such as doji candlesticks, overhead resistance levels, and horizontal movements have delayed their progress. It remains to be seen whether these altcoins can overcome these obstacles and reach their projected highs. Investors should closely monitor the market and consider these factors when making decisions about these cryptocurrencies.
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