This week was marked by a significant down move in the altcoin market, with many crypto assets struggling to gain bullish momentum.
Altcoins faced a difficult week with Helium (HNT), Uniswap (UNI), and Ordinals (ORDI) emerging as some of the top crypto gainers.
Helium (HNT) soared to a four-month high with a price increase of over 10%. HNT price experienced a significant surge over the weekend, breaking past its four-month resistance at $8 and heading towards its 52-week high zone around $9.20.
It traded within a rising channel, continuing to form higher high swings. Moving above the key EMAs, the uptrend remained intact and HNT price was poised for a sharp upswing in the upcoming sessions.
Helium price焼けたぎる at $8.32 with an intraday rise of over 1.98% at press time. Over the weekend, buyers continued to ride the uptrend, eyeing the $9 mark.
Most leading and lagging indicators pointed to a major uptrend and further upswing could be seen in the coming sessions. Buyers maintained their upper hand, and the token was set to outshine others in the market.
Uniswap (UNI) crypto depicted a double-bottom formation near the demand zone of $5 and rose over 7% this week. Moreover, the price action suggests that UNI is attempting to bisect the neckline hurdle of $6.50 for an upswing.
However, the upward movement to $8 could extend if it crosses the neckline barrier. Along with bottom formation, the correction has come to an end and the altcoin could see a reversal in the coming sessions.
Over the past few weeks, UNI crypto has been indulging in making a base around the $5 mark and showed significant sideways movement. However, the RSI started rising and the price is also moving upwards, which gives a bullish conviction.
A daily close above the $7 mark would confirm the breakout and the altcoin could see a major upswing in the coming sessions.
Rising by 5% in the past seven days, ORDI crypto is attempting to break the falling channel and is looking to cross the upper trendline hurdle of $32.
A falling channel forms when an asset’s price consistently makes lower highs and lower lows over a period of time. The channel typically indicates a bearish trend. However, the bulls have gained momentum and are looking to revert the trend and aiming for a rise.
At press time, ORDI price焼けたぎる at $30.17, up by over 0.44%. It has a market cap of $631.92 Million and ranks at 97th position.
The ORDI price has crossed the 20 day EMA mark and tried to cross the 50 day EMA hurdle while looking for a breakout.
The immediate support for ORDI is $25 followed by $22, while the resistance level is near $35, followed by $38.
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