The crypto market crashed massively last week, with Bitcoin leading the fall.
Monero (XMR) is one of the only cryptocurrencies, currently in the green, with a 12% increase over the last week. We might see a 70% rally to $290 or higher.
ORDI remained largely unaffected by the market crash and is up by a staggering 33% over the past week. Ordi is very poised for bullishness this week
Tron has shown great stability throughout the year, and despite the recent downturn, it's still up by nearly 2% in the last 24 hours.
Toncoin has been consistently bullish this year and is currently attempting to break above the $7.5 - $7.8 level, leading it to $10 or higher.
The crypto market turned red on Friday last week, when Bitcoin declined from the $71,000 zone to $69,000, dragging the rest of the market down with it.
By Saturday morning, nearly $500 million had been liquidated across the board, with several altcoins echoing several times Bitcoin’s decline.
The crypto market’s liquidations
Ethereum also declined from $3,800 and is now down to the $3,650 zone.
At the time of writing, the crypto market seems to be nursing its wounds and preparing for its next move up or down.
In the middle of all this drama, however, here are some of the top altcoins worth watching this week.
While most of the cryptocurrencies across the market are trading in the red at the time of writing, Monero is currently green.
Monero’s price
As shown by the snapshot above, the cryptocurrency is up by around 12% over the last week, and by 4% over the last 24 hours before writing.
This stands as a massive testament to the strength of Monero’s bulls, and the price action is worth looking at in the charts.
To better understand what’s going on with Monero, we go over the weekly charts, as shown below:
Monero’s price action
According to the chart above, Monero crashed below the ascending trendline in February this year, declining to a yearly low of $101.
However, a recovery followed soon after, taking the cryptocurrency further up and back above the ascending trendline once again.
At the time of writing, Monero is attempting to form a weekly close above this trendline, as a way to solidify the dominance of its bulls.
A slight consolidation "may" result from here. However, the cryptocurrency is poised to continue further upwards by 70% from current price levels to the $290 zone or higher.
According to data from TradingView and CoinMarketCap, ORDI was relatively unaffected by Bitcoin’s decline, despite being a BRC-20 token.
ORDI’s price
Despite the general market downturn, the cryptocurrency is up by around 33% over the last week, indicating massive bullish activity.
ORDI’s price action
According to the charts, the cryptocurrency only consolidated for a while above the $55.39 and $51.65 zones during Bitcoin's plummet on Friday but never crashed below.
Even now, we can see that the cryptocurrency is attempting to make a comeback from here and is likely to continue the climb further up this week.
This year, in particular, Tron has demonstrated massive stability despite market crashes.
Tron’s price
According to CoinMarketCap in the snapshot above, the cryptocurrency is up by nearly 2% over the last 24 hours before writing, and by around 1.85% over the last week—a weekly climb that is impressive compared to the rest of the market’s performance.
Tron’s price action
According to the charts, we can see that Tron is still stuck in a consolidation phase after breaking out of the descending wedge illustrated above.
This time around, however, we are seeing Tron consolidate and attempt to break above the $0.116 price level.
If we see a break and close above this price, Tron will be poised to continue further upwards and possibly initiate this long-delayed post-breakout rally.
According to CoinMarketCap data, Injective is performing slightly on the bearish side on the daily timeframe.
However, it is doing better than most of the other altcoins on the market in the weekly timeframe, with an 18% price increase.
Injective’s price
According to the charts, Injective has been struggling with the $28 - $30 zone since mid-April, and as illustrated below, the cryptocurrency is making another attempt at breaking above once again.
Injective’s price action
Investors should watch for what happens above the $28 - $30 zone. If this week turns out to be Injective's week, we might be seeing the cryptocurrency soar by another 90% from current price levels to the $53 zone this week, or the next.
This one has been a top performer for months now. Just like Injective, Toncoin is slightly on the bearish side over the last 24 hours before press time.
However, on the weekly timeframe, it is up by around 11%.
Toncoin’s 11% price increase
In the charts, we can see a massively bullish formation, just waiting to break. As shown in the chart below, the cryptocurrency is consolidating between the $7.5 - $7.8 resistance and the ascending trendline.
Toncoin to rally after breakout
As it stands, Toncoin is attempting to break above once again, just as it has in the last two months.
If we see a break above this price level on the cryptocurrency, Toncoin would be more than poised to make a new all-time high, with a likely target being the psychological $10 zone or even higher.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.