Bitcoin's Resurgence Keeps Prices Stable

Weekly Cryptocurrency Analysis: Curve DAO Token, Pepe, Chainlink, Maker, and Theta Network

All of the top-performing cryptocurrencies, except for THETA, experienced a positive revival last week. Some altcoins even reached their previous highs, although overbought conditions are currently hindering further upward movement.

Curve DAO Token

Curve DAO Token (CRV) is currently in an upward correction after breaking above the moving average lines. The altcoin reached a high of $0.56 but failed to sustain the uptrend and is now retreating. If the price rises above the moving average lines again, the uptrend will resume. On the other hand, if the price falls below these lines, selling pressure will increase and the decline could reach a minimum of $0.39.

If buyers maintain a positive trend, CRV will rise to its previous highs. However, it may face resistance at the overbought high of $0.60. Currently, CRV is moving up above the 63 level of the Relative Strength Index (RSI) of period 14.

CRV Characteristics:

Current price: $0.5143
Market capitalization: $1,698,317,352
Trading volume: $33,553,145
7-day gain/loss: 18.95%

Pepe

The price of Pepe (PEPE) is rising as it crosses the 21-day line Simple Moving Average (SMA). Although it fell to a low of $0.0000006018 during the previous trend, bulls bought the dips and now PEPE is above the 21-day line SMA but below the 50-day line SMA. If the current support holds, the altcoin will rise and break above the 50-day line SMA. Otherwise, it may enter a sideways trend between the moving average lines.

PEPE is currently moving upwards above the daily stochastics of 75, but it has reached the overbought zone, making further price increases doubtful.

PEPE Characteristics:

Current price: $0.000000743
Market capitalization: $313.08M
Trading volume: $85.22M
7-day gain/loss: 18.43%

Chainlink

The price of Chainlink (LINK) is rising after crossing the moving average lines. It reached a peak value of $7.23 and is expected to continue rising as long as it remains above these lines. The altcoin may reach its previous peaks of $8.00 and $8.50.

The altcoin is currently at a daily stochastic level of 68, indicating a positive trend. However, as it approaches its recent high, it will likely exhaust itself in the overbought area.

LINK Characteristics:

Current price: $7.67
Market capitalization: $7,679,625,844
Trading volume: $384,600,008
7-day gain/loss: 11.81%

Maker

Maker (MKR) is rising as it breaks through the $1,346 resistance level. After rallying above the $680 barrier, the altcoin reached a high of $1,490.47. Currently, MKR is in an overbought state, with the daily stochastic at 80. Further price movement is unlikely in the near term.

MKR Characteristics:

Current price: $1,491.27
Market capitalization: $1,499,788,056
Trading volume: $122,321,165
7-day gain/loss: 10.75%

Theta Network

Theta Network (THETA) is currently moving sideways after a price decline on June 10. The altcoin fell to a low of $0.56 before experiencing an upward correction to $0.85. It is currently trading between these two levels.

The price of THETA is stuck between the moving average lines, indicating limited movement within this range. The Relative Strength Index (RSI) for period 14 is at 51, suggesting that supply and demand are in equilibrium.

THETA Characteristics:

Current price: $0.6342
Market capitalization: $634,135,705
Trading volume: $9,107,267
7-day gain/loss: 7.04%

Hot Take: Weekly Cryptocurrency Analysis Highlights Positive Revival of Altcoins

Last week saw a positive revival for most cryptocurrencies, except for THETA which remained relatively stagnant. However, overbought conditions are currently limiting further upward movement for these altcoins. Curve DAO Token (CRV), Pepe (PEPE), Chainlink (LINK), Maker (MKR), and Theta Network (THETA) all experienced significant price movements. CRV broke above the moving average lines, PEPE crossed the 21-day line SMA, LINK rose after crossing the moving average lines, MKR broke through a resistance level, and THETA entered a sideways pattern. Despite the current limitations, these altcoins have shown potential for further gains.