This week’s top crypto gainers include OM, EGLD, TRX, TON, and XAUT. These cryptocurrencies have shown significant gains, highlighting their potential amidst the current market dynamics.
Points
- OM surged 15.83%, with potential to rise to $1.
- EGLD, TRX, TON, and XAUT also showed significant gains.
- The global crypto market cap briefly slipped below $2 trillion.
- BTC’s market dominance of 53.7% contributed to the decline.
The global crypto market has experienced significant fluctuations, with the market cap briefly slipping below $2 trillion by July 5th. BTC, with
a market dominance of 53.7%, played a significant role in this decline. Despite the broader market downturn, some cryptocurrencies have managed to show impressive gains this week. Here are the top five crypto gainers of the week: OM, EGLD, TRX, TON, and XAUT.
Mantra （OM）
Mantra （OM） has had a notable week, surging by 15.83%. OM is currently trading at $0.65, showing a potential rise to $1. OM had a strong start this year after a prolonged flat price action in 2023, showing a massive 3100% spike from $0.0324 to $1.044 by April 11, 2024. Despite a dip alongside BTC, OM has managed to regain momentum, supported by volume profile levels.
MultiversX （EGLD）
MultiversX （EGLD） displayed bullish signs with a 13.65% surge. EGLD’s performance suggests strong potential despite the bearish trend. RSI and MACD indicators support this bullish outlook, with target resistances at $37 and $45. Failure to maintain these levels could lead to a drop towards $22.
Tron （TRX）
Tron （TRX） has witnessed a breakout from a symmetrical triangle on the daily chart as of June 21, 2024. Supported by 50-day and 200-day EMAs, TRX has shown a bullish trend with a surge in RSI to 71.14. Resistance levels are at $0.1401 and $0.1501, with potential support at $0.1151 and $0.1051.
Toncoin （TON）
Toncoin （TON） traded above its upward trendline, showing liquidity grabs on July 5th. TON’s support levels are at $6.01 and $6.81, with resistance at $8.80 and $10.00. Despite a stable 0.59% gain, TON’s higher probability of further advances makes it an interesting asset to watch.
Tether Gold （XAUT）
Tether Gold （XAUT） also made it to the list of top gainers. While specific percentage gains were not highlighted, XAUT’s inclusion indicates its resilience and potential in the current market conditions.
Market Dynamics and Future Prospects
The decline in the global crypto market cap has impacted many altcoins, but the top gainers have shown resilience and potential for growth. Understanding the technical indicators and market dynamics is crucial for navigating the volatile crypto market.
###解説
– OM’s significant gains highlight the potential for altcoins to perform well despite broader market declines.
– EGLD, TRX, TON, and XAUT have demonstrated strong resilience, supported by technical indicators like RSI and MACD.
– Monitoring key support and resistance levels can help investors make informed decisions about these cryptocurrencies.
– The overall market dynamics, including BTC’s dominance, play a crucial role in influencing the performance of altcoins.
– Investors should remain cautious and consider both technical analysis and broader market trends when evaluating potential investments in these top gainers.