Bitcoin’s market dominance has dropped to around 57.9%. Investors are now in a noticeable shift toward altcoins.
SAND is eyeing a 200% price increase, even after a 66% weekly increase towards the $0.73-$0.75 resistance level.
MANA is similar to SAND and is up 60% this week. It is gearing up for a break above the $0.85 resistance level before jumping above $1.
Other notable gainers include Gala (up 35% weekly), Celestia (up 40% weekly), and Immutable (up 28% weekly).
All of the above are nearing major resistances that could ignite massive rallies.
The crypto market has held on to most of its gains over the last three weeks, with Bitcoin trading within the $97,000 - $99,000 range.
The total crypto market cap is also solidly above the $3.3 trillion mark, with a healthy overall volume of nearly $200 billion.
The crypto market’s overall performance
Interestingly, Bitcoin’s dominance has dropped from its 60% high to around 57.9%, and the altcoin season indicator is trending towards the alts.
If the above is any indication, the altcoins are only getting started.
Here are some of the best cryptocurrencies to keep an eye out for in the coming week.
SAND is by far the best-performing cryptocurrency among the top 100, with a more than 50% price increase over the last 24 hours.
The cryptocurrency also has a 66% price increase in the weekly timeframe, which shows that the bulls are incredibly active.
The Sandbox’s price performance
The charts show that SAND has spent the last week going parabolic as shown.
The cryptocurrency is now on the verge of breaking above the multi-year descending trendline that has kept it under since January 2023.
Watch out for SAND
Considering how long this trendline has remained in place, there are no guarantees that it will break this time around.
However, SAND investors should consider monitoring the $0.73 - $0.75 price level for any signs of a breakout.
A clean, decisive breakout above this price level could set the stage for a 200% rally to $1.83 or even higher.
It seems that the metaverse projects are waking up again this week. According to data from CoinMarketCap, Decentraland is behaving very similarly to The Sandbox, its sister project.
The cryptocurrency has increased by more than 30% over the last 24 hours and around 60% over the previous week.
Price action on Decentraland
According to the charts, Decentraland presents a similar rally to The Sandbox’s.
Both have been stuck underneath the same trendline since early 2023 and have been rejected twice in between.
The only difference is that while The Sandbox has a descending trendline, Decentraland trades more in a horizontal range.
Incoming break above the $0.85 mark
As shown by the charts, the cryptocurrency has successfully broken above the $0.7 range and needs to close above to confirm a breakout.
However, Decentraland needs to break above more than the $0.7 mark.
The charts show that Decentraland has been stuck underneath the $0.85 mark since August 2022 and should be primed for an explosive breakout above the $1 mark if we see a clean escape from $0.85.
Gala is another top performer in terms of price action. The cryptocurrency has been up around 25% over the last 24 hours and an impressive 35% over the last week.
The price action of Gala
According to the charts, Gala broke out of a descending channel last week and is currently in the middle of a post-breakout rally.
The Fibonacci extension tool shows that a major resistance level is around $0.04, which investors must watch this week.
If a break above this price point happens, the cryptocurrency will have all it needs to continue further upwards and hit the next resistances around $0.05, $0.058, and $0.069 or even higher.
Celestia is also one of the top gainers among the top 100, according to CoinMarketCap.
The cryptocurrency's price has increased by around 15% over the last day, with a nearly 40% increase over the 7-day timeframe.
Celestia’s price performance
Source: CoinMarketCap
Celestia’s price performance
According to the charts, the cryptocurrency is only just getting started.
The chart below shows that Celestia has been consolidating between the $3.9 and $7.64 range since June earlier this year.
The cryptocurrency is now testing the upper boundary of this consolidation and is eyeing a break above the $7.64 price level this week.
If the bulls get a little more push to the upside from here, the cryptocurrency could explode further upwards to the next resistance points between $10.5 and as high as $21.
Immutable's price increased by an impressive 15% on the last day and 28% over the last week.
Price action on Immutable
According to the charts, Immutable had been consolidating within a descending channel since April earlier this year.
This week, the cryptocurrency printed what appears to be a breakout, as illustrated.
A breakout on Immutable
According to the charts, this breakout opens the door for Immutable to travel upwards to its previous all-time high of around $3.76—or even further.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but 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.