4 Top Crypto Gainers: MEW, HNT, SATS, FLOW
From July 5th onwards, BTC experienced a surge of nearly 27% up to $68270. During this time, the broader market also showed gains and bullishness, resulting in the emergence of some top crypto gainers and losers.
Last week, BTC pulled back to the 200-day EMA support, but the last 2-day green candle indicated a surge of 5%.
The top crypto gainers this week were Cat in a dogs world (MEW), Helium (HNT), SATS (SATS), and Flow (FLOW).
Based on their performance last week, the optimism surrounding these gainers suggests that they may continue to experience gains on the upcoming daily chart. Let’s take a closer look at the technical charts of these 4 cryptocurrencies and see what they might do next.
Cat in Dogs World (MEW): Technical Analysis
Since its launch, MEW has exhibited a volatile range, which has resulted in the formation of a descending triangle pattern on the 1-D chart. However, in the past two weeks, the token experienced a surge of over 135%. Currently, it is taking a breather before rising steadily.
The indicators show strong support from the 50-day EMA band and appear to be heading towards a retest of the $0.009944 mark. Additionally, the MACD indicates a strong bullish crossover, with a significant histogram at 0.0003893. The RSI is coming down from overbought territory, indicating a potential bullish push ahead. At present, the RSI stands at 69.43.
The resistance levels for MEW are around $0.0088 and $0.0099, while the support levels are at $0.0062 and $0.0048.
Can Helium (HNT) Sustain Its Rally?
Helium (HNT) has been displaying bullishness on the daily chart, with consistent formation of green candles over several days, leading it to become one of the top crypto gainers this week.
HNT experienced a gain of over 700% from $1.429 to $11.160 by February 15th, 2024, which marked a significant support level. However, bullish pressure gave way to bearish sentiment, leading to a falling wedge formation over approximately 150 days after mid-February.
Fortunately, the broader bullish sentiment prevalent in July prevailed, resulting in a breakout in the form of a more than 75% spike in just 2 weeks on the daily chart. The price of HNT also pierced both the 50-day and 200-day EMA bands. Additionally, the MACD histogram surged to 0.152, indicating bullish momentum. However, the RSI is currently at 69.95, suggesting that it may be reaching overbought conditions.
The support levels for HNT are $3.01 and $4.24, while the resistance levels are $6.91 and $8.01.
SATS Technical Chart Overview on 1-D Time Frame
SATS saw a rise of over 200% on the daily chart, pointing to a positive market sentiment in the past three weeks.
The cryptocurrency breached the 50-day EMA and experienced a pullback from $0.0000002524, but it is now heading upwards. The MACD showed a bullish cross above the zero line, with the histogram advancing to 0.0000000078. The RSI flashed at 66.90, indicating further upside movement.
If the bullish trend continues, SATS may encounter resistance levels at $0.0000003486 and $0.0000003893. On the other hand, if the price dips, the support levels would be $0.0000002524 and $0.0000001534.
Technical Analysis of Flow (FLOW) Daily Chart
FLOW exhibited a remarkable surge of over 300% from October 2023 to mid-March 2024, going from $0.417 to $1.693 during that period.
However, after these significant gains, the price experienced a three-month profit-taking phase. During this time, the price formed a wedge pattern, but it recently broke above the upper boundary. The 50-day EMA was initially hindering further upward movement, but a recent BTC surge enabled the price to breach the orange band.
The next resistance levels for FLOW are at $0.820 and $1.00, depending on a potential bullish push. If bears counteract the ascent and the price falls below the pattern, the bullish sentiment could fade. On the downside, if the bearish dominance persists, the price may fall to the nearest support levels at $0.60 and $0.40. The breach of the 50-day orange band EMA, along with the bullish RSI and MACD, suggests an overall bullish sentiment.
Overall, these top crypto gainers show significant potential for further gains, but it is important to conduct thorough research (DYOR) and consider the support and resistance levels when making investment decisions.