XLM MOG MANA Cryptocurrencies to Keep an Eye on in the Coming Week
Last week, the cryptocurrency market experienced a slight recovery. Despite initial setbacks, Bitcoin (BTC) managed to regain some lost ground, providing strength to the rest of the market.
Several altcoins showed impressive recoveries, leading to a total market cap of $2.21 trillion, with a $70 billion increase in the global cryptocurrency market.
Based on their strong performances in the previous week, here are our top picks for cryptocurrencies to keep an eye on this week:
XLM Regains $0.1 with a 12% Gain:
Stellar (XLM) also suffered losses during the bloodbath on July 7, but it limited its drop to a 7.40% loss. However, over the next five days, it gradually recovered and experienced mild gains by July 12.
Interestingly, XLM’s bullish momentum gained strength on July 13, following the trajectory of its competitor XRP. The token saw a 12.05% increase and managed to reclaim the $0.1 mark for the first time in a month.
Data from Santiment confirms a spike in Stellar’s weekly volatility, reaching a one-month peak of 0.066. Additionally, the asset’s MACD line has crossed above the Signal line, confirming the bullish momentum. Investors should closely monitor the resistance at $0.1096, which aligns with the 38.2% Fibonacci retracement level.
MOG Retests All-Time High:
Mog Coin (MOG) faced intense bearish pressure at the beginning of last week, with a 20.4% collapse on July 7 due to selling pressure in the BTC market caused by the German government. This marked MOG’s largest intraday loss in almost four months.
However, the cryptocurrency managed to recover these losses over the next three days, experiencing sustained gains. From July 8 to 10, MOG increased by 28.8%. It then consolidated over the following three days with minor fluctuations.
Overall, Mog Coin closed the week with a modest 3.5% increase. During this period, it attempted to retest its all-time high of $0.000002129 but faced resistance at $0.0000019. MOG’s immediate target is to surpass the upper Bollinger Band at $0.000001925 to establish support, which could lead to another retest of the all-time high region.
MANA Struggles at 20-Day EMA:
Decentraland (MANA) experienced an initial 6.10% drop on July 7 but managed to recover throughout the rest of the week. Interestingly, MANA saw six consecutive days of intraday gains from July 8 to 13.
The asset eventually broke through the 20-day EMA, indicating a switch in momentum to bullish. However, its relative strength index (RSI) suggests a weakening in the uptrend. Consequently, bears are looking to turn the 20-day EMA back into resistance.
This level is crucial to monitor, as a drop below it could result in a return of bearish pressure. If this occurs, MANA’s immediate defense would be at the Fibonacci 0.236 level at $0.3085. This region is vital in defending against any declines below the psychological support of $0.30.
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Aave Shows Strong Performance Despite Fewer Holders:
Aave has experienced a 25% rally in the past seven days and a 5% increase in the last 24 hours, despite a decrease in the number of holders.
