$XLM , $MOG, $MANA : Top cryptocurrencies to watch this week
MANA struggles at 20-day EMA
Decentraland (MANA) witnessed an initial 6.10% drop on July 7, but recouped this loss over the rest of the week. Interestingly, MANA saw six consecutive days of intraday gains from July 8 to 13.
EMA back to resistance.
This level is worth watching out for, as a drop below it could lead to a return in bearish pressure. Should this occur, MANA’s immediate defense would rest at the Fibonacci 0.236 level at $0.3085. This region is pivotal in defending against any declines below the $0.30 psychological support.
XLM reclaims $0.1 in 12% gain
Stellar (XLM) was also a victim of the July 7 bloodbath, but it limited its drop to a 7.40% loss. The asset then gradually recovered this loss in the five days that followed, witnessing mild gains by July 12.
Interestingly, XLM’s bullish momentum gained steam on July 13, as it followed its competitor XRP’s trajectory. The token appreciated 12.05% on July 13, eventually reclaiming the $0.1 mark for the first time in a month.
Data from Santiment confirms a spike in Stellar’s weekly volatility to a one-month peak of 0.066. In addition, the asset’s MACD line has decisively crossed above the Signal line, confirming the bullish momentum. However, investors should closely watch the resistance at $0.1096, aligning with the 38.2% Fibonacci retracement level.
MOG retests ATH
Mog Coin (MOG) witnessed intense bearish pressure at the start of last week, collapsing by 20.4% on July 7 as BTC battled selling pressure bolstered by the German government. This marked MOG’s biggest intraday loss in nearly four months.
However, the crypto asset recovered these lost values over a three-day period of sustained gains. From July 8 to 10, MOG increased by 28.8%.
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