Top 5 Performing Coins of the Week – RVN Led by APE, ATOM, ETC and HNT

the main ideas:

  • It was a bullish week for the broader crypto market, as the market cap rose for the second week in a row.
  • Fed fears eased, with investors capitulating to a potential 75 basis point interest rate hike this month.
  • Several cryptocurrencies popped out of the pack. RVN led the way, with APE, ATOM, ETC and HNT making solid gains.

The total cryptocurrency market cap for the week of September 5 increased by $63.8 billion to $1026 billion. Six of the seven bullish sessions gave hope, although Friday’s broad rally in the cryptocurrency market was the main contributor. On Friday, the cryptocurrency market cap rose by $62.3 billion.

The change in investor sentiment against the Fed led to the breakout session.

Investors reacted to policy actions by the Bank of Canada and the European Central Bank, both of which raised interest rates by 75 basis points. The market realization that the Federal Reserve was not alone in raising interest rates despite economic uncertainty eased investor fears.

Securities and Exchange Commission chief Gary Gensler failed to raise investor concerns late this week, even as Gensler continued to assert rights to regulate the broader crypto market.

Cryptocurrency exchange rate 120922 daily chart

Both hawkish Federal Reserve and Fed Chair Powell failed to make an impact, as a 75 basis point rate hike was achieved. But any talk of a percentage point increase could scare investors.

Throughout the week, the impact of the Nasdaq 100 index on the broader market was evident. The Nasdaq 100 is up 4.14% compared to the crypto market’s gains of 4.91% (Mon-Fri).

NASDAQ – Cryptocurrency Market Cap – Daily Chart 120922

Across CoinMarketCap Top 100, several cryptocurrencies emerged from the pack.

Ravencoin (RVN) took the lead, with apecoin (APE), cosmos (ATOM), ethereum classic (ETC), and helium (HNT) among the top 100 cryptocurrencies.

Ravenquin (RVN)

For the week, RVN rose 48.9% to end the week at $0.05156. A mixed start to the week saw RVN drop to Monday’s low of $0.0314 before climbing to Friday’s high of $0.06249. A 53% rise on Friday provided an impressive return for the week. However, a bearish Sunday led to a pullback to test the $0.050 support.

Progress towards an Ethereum (ETH) merger was key to the RVN bullish week. A sharp increase in new miners reportedly exiting the Ethereum ecosystem has increased demand for RVN.

Investors’ appetite for Proof of Work (PoW) protocols has increased as Ethereum miners look for alternative sources of mining revenue. On Tuesday, the operator of the mining pool Hiveon release Ravencoin mining pool. On Wednesday, Hiveon RVN . Gathering Rank #4 According to Miningpoolstats.

Looking at the trends, a move through the September high of $0.06249 and a pullback to $0.065 would give the bulls a run on the March high of $0.07669. From there, the RVN will have a free run of $0.10 and a January/2022 high of $0.1425.

For the bears, the RVN decline through the August low at $0.02680 would show the June and year-to-date low at $0.01710.

Looking at the exponential moving average and the 4-hour candlestick chart (below), it was a bullish signal. RVN is sitting above the 50-day moving average, currently at $0.04331.

The 50-day moving average has moved away from the 100-day moving average, with the 100-day moving average widening from the 200-day moving average, giving bullish price signals.

After the bullish crosses last week, holding above the 50-day moving average will support the breakout from the August high at $0.06249 to the $0.0650 target. However, a dip below $0.050 would produce the 50-day EMA ($0.04331). A dip below $0.03 would give the bears a boost to the August low of $0.0268.

ApeCoin (APE)

For the week, APE stock rose 18.40% to end the week at $5.6820. A bearish start to the week saw the APE drop to its September low of $4.1675. Avoiding below $4.00 and June/2022 lows at $3.0590, the APE rose to a Sunday high of $5.8320.

There were no major news events to support the bullish week, with APE still under selling pressure as the previously desirable NFT market continues to grapple with a buying drought.

Looking at the trends, a move through Sunday’s high at $5.8320 and a pullback to $6.00 would put the August high at $7,7270. A breakout from the August high will push the bulls to the May high of $27.6230. However, NFT market conditions will need to improve significantly to support a return to $20.

The drop will be seen during the September low of $4.1675 and the June/2022 low of $3.0590. In the short term, the $4.00 subkey is likely to be avoided.

Looking at the exponential moving average and the 4-hour candlestick chart (below), it was a bullish signal. APE is sitting above the 200-day moving average, currently at $5.2630.

The 50-day EMA closed at the 100-day moving average, as the 100-day moving average fell to the 200-day moving average, giving bullish price signals. A bullish crossover from the 50-day moving average to the 100-day moving average will support a bounce to $6.00 to target the August high ($7,7270).

However, a dip in the 200-day EMA ($5.2630) would put the 100-day MA ($4.9904) into play. A drop across the 100-day moving average and the 50-day moving average ($4.9590) should give the bears a boost to the September low of $4.1675.

Cosmos (Atom)

For the week, ATOM stock rose 20.31% to end the week at $15.7002. Tracking the broader market, ATOM dropped to Wednesday’s low of $11.5436 before climbing to a September high of $17.2028. However, a bearish weekend left ATOM at just under $16.

With investors hungry for network upgrades Scheme The launch of Cosmos 2.0 was a positive price for ATOM.

Looking at the trends, ATOM’s move through the September high at $17.2028 should give the bulls a free run at the May high at $20.3339. A rebound of ATOM to $25 would support a pullback to the April high at $33.2901 to take out the January/2022 high at $45.7133.

However, a bounce back below $14.50 would show below $10.00 and the August low at $9.6499.

Looking at the exponential moving average and the 4-hour candlestick chart (below), it was a bullish signal. ATOM was above the 50-day moving average, currently at $14.2140. After a midweek breakout of the 50-day EMA, an avoidance below $14.50 would support a run at the September high of $17.2028 to put $20.00 on the horizon.

However, a dip through the 50-day EMA ($14,2140) would give the bears a boost to the August low of $9.6499.

Ethereum Classic (ETC)

For the week, ETC rose by 18.49% to end the week at $38.5328. A bullish start to the week saw ETC rally from Monday’s low of $31.5993 to Tuesday’s high of $42.3581 before easing back below $35. However, with the bullish second half of the week, ETC visited $40 again before pulling back.

There were no news updates to support the hack week. But the influx of miners from the Ethereum ecosystem has driven the demand for ETC, as has ravencoin.

Looking at the trends, a move by ETC through the August high at $45.7085 would give the bulls a free run at the March/2022 high at $52.6339. However, a drop through the August low of $30.3621 would show the June/2022 low of $12.4842.

Looking at the exponential moving average and the 4-hour candlestick chart (below), it was a bullish signal. ETC is sitting above its 50-day moving average, currently at $37.0186.

The 50-day moving average has widened, with the 100-day moving average breaking away from the 200-day moving average, giving bullish price signals. ETC contract above the 50-day moving average should support a continuation of playback at the August high of $45.7085.

However, a decline across the 50-day moving average ($37.0186) would put it below $35.00 and the August low of $30.3621, on the horizon.

Helium (HNT)

HNT gained 19.95% to end the week at $5.1956. A bearish start to the week saw HNT drop to Tuesday and September lows of $3.2167. But going up for the rest of the week, HNT hit Saturday’s high of $6.1653 before pulling back.

There were no network news updates to support the hack week. The rise in appetite follows the initial bearish market reaction to the proposed migration to Solana Blockchain (SOL).

Looking at the trends, a rebound of HNT to $6.00 will support a run to the August high at $9.4612. A return to $10.00 would give the bulls a run at the May high of $16.6751. From there, HNT will need to break the $20 resistance to target the February high at $32.0171. HNT reached its highest level in 2022 at $45.7533 on January 5th.

However, a dip below $4.50 would put the September/2022 low at $3.2167.

Looking at the exponential moving average and the 4-hour candlestick chart (below), it was a bearish signal. HNT was below its 100-day moving average, currently at $5.2465. While the 50-day moving average fell to the 200-day moving average, the 100-day moving average pulled back from the 200-day moving average to provide mixed price signals.

HNT’s move across the 100-day moving average should support the run at $6.00 and the August high at $9.4612. However, a dip through the 50-day moving average ($4.9492) would put the $4.00 low and September low of $3.2167 on the horizon.

Top 5 Performing Coins of the Week – RVN Led by APE, ATOM, ETC and HNT – Coinphony [SV]

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