The crypto market is getting more and more tricky and challenging for most crypto traders and investors as bad news hits the market practically every week, sending the price of most altcoins to their weekly lows. Recently, the price action of many altcoins has been problematic as many altcoins are struggling to survive. The domino effect of the FTX saga and other major investors involved has brought the market to a standstill as the market is yet to make a major move after the past few weeks. Here are the top 3 altcoins that have outperformed over the week. (Binance data)
Litecoin (LTC)-Price analysis on the daily chart
Daily LTC Price Chart | Source: LTCUSDT on Tradingview.com
Most crypto traders and investors have had a rough few days, and many have worried about where the market will go after so much turmoil in the crypto space. Many altcoins struggled to show strength and lost key support to survive.
The current market uncertainty has caused traders and investors to hesitate in buying altcoins as there is no guarantee they will appreciate in value any time soon. LTC has shown itself to be a stand-up performer over the past few weeks and days.
The price of LTC on the daily chart has declined despite the market uncertainty that has impacted major crypto projects involved in this bear market have continued to develop, have shown bullish strength and there continues to be more FUD (fear of uncertainty and doubt). The price of LTC has been trading in a $60 region on the daily chart. Still, the price bounced off this region as LTC’s price surged to a high of $80 before falling to a minor one Resistance bucked an upward trend. If LTC price sustains above $75, we might see another rally to a $90 region.
Daily CRV Price Chart | Source: CRVUSDT On Tradingview.com
CRV’s price remains considerably strong on the intraday as the price is trading above the $0.65 support after the price rebounded from the daily low of $0.4.
CRV price is trading at $0.7 below its 50 and 200 EMA which is acting as resistance for CRV price. The price of $0.77 and $1.2 corresponds to the prices at these levels and acts as resistance.
If CRV price breaks out and sustains above $0.8, we might see further rallies for CRV price to a region of $1.2 where the price might face resistance to an uptrend.
price analysis of Zcash (ZEC) on the daily chart (1D).
Daily ZEC Price Chart | Source: ZECUSDT On Tradingview.com
ZEC price remains considerably strong on the intraday as the price is trading above the $40 support after the price rebounded from its daily low of $30.
ZEC price is trading at $42 below its 50 and 200 EMA which is acting as resistance for ZEC price. The price of $49 and $70 corresponds to the prices at these levels and acts as resistance. ZEC’s price needs to break this region for more signs of relief.
Featured image by zipmex, charts by Tradingview
Source: Crypto News Deutsch