The cryptocurrency market saw a slight recovery last week, with Bitcoin facing some initial challenges but eventually bouncing back. This positive movement in BTC helped strengthen the rest of the market, leading to a $70 billion increase in the global cryptocurrency market cap, reaching a total of $2.21 trillion by the end of the week.
Among the top-performing cryptocurrencies to watch this week are XLM, MOG, and MANA, which showed impressive performances in the previous week.
Stellar (XLM) experienced a 7.40% drop during the July 7 downturn but managed to recover gradually over the following days, with a 12.05% gain on July 13, reclaiming the $0.1 mark for the first time in a month. Data from Santiment indicates increased volatility for XLM, along with a bullish MACD line crossing above the Signal line. Investors should keep an eye on the $0.1096 resistance level for potential price movements.
Mog Coin (MOG) faced significant bearish pressure at the beginning of last week, dropping by 20.4% on July 7. However, it managed to recover these losses with a 28.8% increase from July 8 to 10. MOG closed the week with a 3.5% gain, aiming to retest the all-time high of $0.000002129. The immediate target for MOG is to flip the upper Bollinger Band at $0.000001925 to support, potentially leading to another retest of the ATH region.
Decentraland (MANA) saw a 6.10% drop on July 7 but recovered throughout the week, experiencing six consecutive days of intraday gains from July 8 to 13. MANA breached the 20-day EMA, signaling a shift to bullish momentum, although the RSI suggests weakening strength in the uptrend. Bears are looking to turn the 20-day EMA into resistance, which could lead to increased selling pressure. Investors should monitor the $0.3085 Fibonacci 0.236 level as a key support area to prevent declines below the $0.30 psychological mark.
Overall, these cryptocurrencies have shown resilience and potential for further growth based on their recent performances. Investors and traders should conduct thorough research and analysis before making any investment decisions in the volatile cryptocurrency market.
