Bitcoin is holding steady at $117,000 and Ethereum was trading near $4,500 Friday. In the last week, several altcoins, including OKB KuCoin Cardano Hyperliquid Arbitrum, and Cardano have seen gains of double digits.
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- OKB has risen over 100% during the past seven days in anticipation that half of the stock will be burned on August 15, Friday.
- KuCoin gained almost 20% as traders responded to the $2 Billion demand by boosting KuCoin’s price. “Trust Project” initiative.
- Cardano gained 20% in the same time period as Bitcoins and Ethereum rallied last week.
- Hyperliquid’s price increased 15%, while the daily token volume has risen to close to $30 Billion. This is due in part because of whale accumulation.
- With institutional adoption of Bitcoin, Ethereum and Arbitrum, the price of arbitrum has increased by 10% in just seven days.
The top five altcoins price analysis
OKB is ranked among the top 100 crypto currencies.OKB), KuCoin (KCS), Cardano (ADA), Hyperliquid (HYPEArbitrum (ARBIn the seven-day period prior to this, a gain of between 10 and 100 percent was recorded.
The top two cryptos are Bitcoin and Ethereum.BTCEthereum (ETHThe altcoin market is expected to boom in August.
Cardano
Cardano currently trades at $0.9517. This is just a little bit shy of psychologically significant $1. R1 and R2, which are at $1.1723 apiece, and $1.3264 apiece, respectively. RSI and MACD, two momentum indicators that support a bullish thesis on ADA.
The ADA/USDT price chart shows that in case of a corrective move, ADA might find some support at $6800.
KuCoin
KuCoin KCS could be on the rise; this setup is similar with ADA. The resistance at $8.71 is the closest and $3.40 is the nearest. Both levels are important for traders, despite the fact that momentum indicators indicate a continuation of the KCS price rise in the coming weeks.
KCS currently trades at $5.91.
OKB
OKB was trading at $93.91 as of the writing. If it continues to climb, the native token for OKX could return to its previous peak of $142.88. OKB is expected to continue its upward trend, as momentum indicators are in favor of it.
RSI suggests OKB’s current overvaluation; a decline below 70 could trigger a buy signal. MACD is a good indicator of trend changes in native tokens of exchanges.
The HYPE
HYPE may test the resistance at R1, which is the nearest resistance to the current $50 price. HYPE currently trades at $47.087. On the daily chart for HYPE/USDT below, we can clearly see two support levels of $42 or $35.
The daily chart of HYPE supports a bullish hypothesis for the token. RSI is 59, and slopes upwards. MACD displays successively larger green histograms, signaling a underlying positive movement in HYPE’s price trend.
Altcoins in the state of season
On a scale of 0 to100, the altcoin index is 47. It is altcoin season if the reading is above 75. That means over 75% outperform Bitcoin during a 90 days reference period.
The last altcoin campaign lasted 249 official days.
The reading shows the index that prior to July 20,25 it was Bitcoin Season. Right now, however, there is a market between Bitcoin and Altcoin seasons, with the reading at 47.
Bitcoin has reached a new record high, surpassing $124,000. Traders are now speculating on whether altcoins will be in vogue as the top of the cycle is near. Ethereum, the largest altcoin is steadily climbing towards its $5,000 goal, which supports this thesis.
Bitcoin and Ethereum Performance
Bitcoin has corrected down to $117.374, giving up its gains since hitting an all-time record high of $124.474. BTC is aiming to reach $130,000 when it enters the discovery phase. BTC’s $130,000 goal is now less than 11% off.
Bitcoin can find stability at $111750. This is a price where BTC will be able to attract liquidity before its next upswing.
RSI & MACD both show mixed signals. RSI shows 51, and it is sloping down. MACD displays green histograms above the neutral line, supporting Bitcoin’s bullish thesis.
Ethereum has fallen almost 10% from its all-time highest. As it rallies to its target, the biggest altcoin will face a stubborn resistance around the $4800 mark. The $4,000 mark is an important psychological support and any correction to Ethereum can send altcoins there.
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Source: crypto.news
