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- Sui price has surged by 56% in the past 4 days, showing strength.
- HNT price has departed from the key moving averages and is heading for a big move.
- Zcash price broke out from a major resistance level.
The top gainers of the week are Sui, Helium and Zcash. They have remained positive despite the bearish trend in the cryptocurrency market. Sui has acquired a bullish move of 22.56% in a week while HNT has 15.48% and Zcash has 15.24%.
SUI Price Generated Power at Bottom; Will it Extend to the $2 Mark?
At press time, SUI crypto was being traded at $0.843, which has declined by 1.08% in the past 24 hours. The market capitalization was $1.19 Billion and the 24-hour trading volume was $402.35 Million at the time of writing.
Based on the technical chart, the Sui was declining through the descending channel. The price has taken support on the lower trendline and has rapidly extended to the upper trendline.
If the buyers remain strong and break out from the channel, buyers may eye for 200-day EMA. Assuming SUI starts trading over the key moving averages, strong buying momentum would be anticipated and the price may extend to $2 mark.
On the other hand, if SUI faces resistance from the upper trendline, the price may melt to the lower trendline. The breakdown from the channel may witness a strong selling pressure.
Is Trend Reversal Awaited in HNT Crypto?
According to the chart structure, the lower lows and lower highs trend in the Helium crypto has ended. The asset has dominated the lower high territory and has triggered a strong pullback.
In the first week of August, the crypto asset price dropped below the 200-day EMA but buyers lifted it back. In the past 4 days, the price surged by more than 50%, demonstrating the buyers’ domination.
If the Helium price manages to sustain over the key moving averages, it would be the bullish sign. If the trading volume increases then it may boost the momentum.
Alternatively, if the digital asset price slips below the 200-day EMA, sellers may become confident. The price below key moving averages would tempt sellers for the $3 level.
ZEC Price at Crucial Level of Breakout; Breakout or Breakdown?
Since July 2023, the Zcash price has been struggling to overcome the major resistance level of $35. At press time, the price has triggered a breakout from the major resistance level. The price has shown price rejection from the 200-day EMA and is likely to overcome the $35 hurdle.
If the ZEC price sustains above the $35 mark, it may attract buyers for the $50 mark. In contrast, if the price fails to sustain over it, most of the buyers might be trapped, which may lead to a strong selling pressure.
Conclusion
The top gainers of the week are Sui, Helium, and Zcash. Bitcoin has shown weakness, despite this, these coins have performed positively. RSI has generated a golden crossover in Sui crypto price which showcases the bullish forecast. The Helium price has managed to defend the key moving averages.
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.
