- Despite the recent market meltdown, there were notably five cryptos that performed well.
- Waves is at the top of the list with a 94% increase in the previous week.
- ADA, GRT, XLM, and HNT are also on the list.
It had been a rough couple of weeks for the cryptocurrency market, with the top 10 cryptocurrencies on the market witnessing their first decline. The collapses of TerraUSD (UST) and Terra (LUNA) prompted governments and the International Monetary Fund (IMF) to push for a worldwide cryptocurrency regulatory framework.
On Thursday, the global cryptocurrency market surpassed $1.31 trillion. Since then, it has decreased somewhat, and it presently stands at just a little more than $1.22 trillion. Let’s examine the top five cryptocurrencies of the previous week.
From its $4.18 low, the WAVES price has risen for seven straight days, representing a 94% increase. In addition, the buyers provided a large volume momentum breach from the $8.14 resistance, providing a lengthy chance for interested traders. However, the cryptocurrency experiencing supply pressure at $10 may have a brief fall before resuming its upward trend.
Waves has decreased by 11% over the last 24 hours and is now trading at $8.31.
HNT went up over 30% in the previous week. Helium’s price is now at $9.41 and has gone up nearly 6.69% in the past 24 hours. After a strong advance, helium investors amass the cryptocurrency price in preparation for a move to the $10 round level as their next target. Meanwhile, the market capitalization has increased by 6%, surpassing $2 billion. The trading volume has increased 83% in the previous 24 hours, reaching $36.2 million.
Last week, ADA was on a strong uptrend and considerably outperformed other cryptocurrencies. The altcoin had gone up by 24.16% in the last seven days. Although it has gone down by 0.22% in the past day and is now at $0.5583, ADA remains one of the best performing cryptocurrencies last week.
If the price can surpass the initial hurdle at $0.6094 at the current trend, it would open doors towards the May 9, 2022 high of $0.70, with subsequent resistance set at $0.6671. To further reinforce the bullish outlook, the moving average convergence divergence (MACD) curve is creating higher highs above the neutral zone.
The Graph (GRT)
The Graph price analysis showed bullish signs last week, with an increase of 16.39%. The crypto is valued at $0.1613, down 4% in the past twenty-four hours. Along with a declining trendline, the GRT price broke over the 20-day exponential moving average (EMA), providing an added advantage to long trades. However, the remaining DMAs (50, 100, and 200) may prevent any prospective rally from materializing.
As a result of a significant bullish trend over the previous week, XLM has risen 15.88% last week and 0.26% since yesterday. The altcoin is currently worth $0.144. Since rebounding from May’s lows and the horizontal support level at $0.1019, XLM/USD has traded above the $0.1500 price zone. The moving averages offer the first northward resistance and set the primary price goal of $0.2250 for XLM. The original price of Stellar gradually went from $0.1183 to $0.1539.