Despite the much-awaited launch of the Ethereum ETF, SOL, HNT, and MEW emerged as the best-performing top altcoins with impressive future growth.
A lot of things happened in the cryptocurrency market this week that deserve our attention to analyze future market momentum, and although there were no major fluctuations in the total market capitalization, these events laid a good foundation for the market.
Despite all the uncertainty surrounding altcoin performance, these coins have still managed to gain ground this week.
SUN
Today, the darling of memecoins, SOL, sold BNB for $85.89 billion. At press time, the cryptocurrency is trading at $184.86, up 9.17% this week, and the rally continues.
The SOL/USDT chart shows that the $182 resistance level turned support in early trading. If the $184 resistance level can be resisted, the path to $192 is clear.
The psychological barrier at $200 remains the ultimate target for the bulls. The MACD readings on the 4-hour candle chart suggest bullish momentum ahead. If blocked, the price will pull back to the established support at $189 and the more critical support at $171.
HNT
HNT has responded positively to major fundamental updates. HNT is currently trading at $5.34, up 20.78% in the past 7 days.
The HNT/USDT chart shows a breakout above the uptrend line and has been making higher highs over the past 12 days. The asset is closer to a golden cross of the 50-day and 200-day SMAs.
The RSI is currently in overbought territory which could soon lead to sideways trading, but the overall trend remains bullish.
MEW
This week, the popular cat-themed meme coin MEW has surged by 65.6% and is currently trading at $0.0082. The technical signals are mixed as the coin’s price is above all moving averages.
On the MEW/USDT chart, the RSI is at 75, indicating overbought conditions, but the Commodity Channel Index (CCI) is at 114, indicating a sell signal. Although the current MACD shows positive momentum, the medium-term sentiment remains bullish.
(Personal opinion, not a recommendation)
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