- RUNE exceeded the 20-day EMA and is heading toward the 200-day EMA.
- The FTM crypto price rose by 40% in the past 110 days.
- Zcash price surged by 100% since July, reflecting buyers’ domination.
Bitcoin has remained mildly bearish for the past few months, demonstrating the general cryptocurrency sentiment. The top gainers of the week are THORChain, Fantom, and $Zcash. Despite the bearish sentiment, these coins have performed well this week.
RUNE Price Technical Analysis Over 1-D Timeframe
At press time, THORChain crypto was trading at $3.72 with an intraday gain of 3.79%. The market capitalization was $1.25 Billion, and the 24-hour trading volume was $287.24 Million.
Based on the technical chart, the THORChain price has declined, forming lower and lower lows. The price recently recovered from the lower low territory and entered the lower high zone.
During the daily time frame, RUNE price produced a falling wedge pattern while trading at a crucial breakout level. The 24-hour trading volume had surged by 61% at press time, which may boost the momentum after the breakout.
If the price breaks out from the falling wedge pattern; buying momentum would be anticipated. Strong buying momentum could be seen, assuming RUNE starts trading over the 200-day EMA.
On the other hand, if the price faces resistance from the upper trendline, sellers may drag down the price to the lower trendline. This means the creation of a new lower low could take place.
Weakness in the Lower High Territory: is FTM Price About to Lose 30%?
The chart structure displayed that FTM displayed selling pressure over the past few months. Since July, the price has lost around 40%, which demonstrates the sellers’ grip.
At press time, FTM price formed a bearish engulfing candlestick in the lower highs territory. This could be a bearish sign; the sellers may become confident, and the price may lose around 30% in one go.
Alternatively, buyers may lead the trend if the price breaks out from the 20-day EMA. Assuming the price manages to surpass the 200-day EMA, it may turn into a trend reversal.
ZEC Price Advanced the Major Resistance Level of $35: Could it Remain Profitable?
The Zcash crypto price has exceeded the one-year resistance level with a sharp rise. So far in August, buyers have attempted multiple times to overcome the $35 hurdle, but sellers proved too strong.
In the first week of August, the price broke out from the $35 mark and shot up by 40% in 10 days. If the price manages to defend the $35 mark; buyers may continue to dominate.
On the other hand, if the crypto price slips below the crucial level of $35, most of the buyers might get trapped. The price below the $35 mark may react negatively and display sharp selling.
As we can see, the cryptocurrency sentiment has been mildly bearish for the past few months. The top gainers of the week are RUNE, FTM, and ZEC.
Despite the sellers’ domination in the cryptocurrency market, these coins have shown bullish momentum. These coins have the potential for a bullish momentum.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
