This month has not been favorable for many coins including Bitcoin. But some altcoins have performed better than expected. Here are the top-performing altcoins for the past seven days. The assets that make up this list include EOS, LEO, Ethereum Classic, Cardano and Monero. The Bitcoin price couldn’t really maintain the $9,500 support position as the value of the asset retraced. The price of Bitcoin went higher initially to $9,800 in an attempt to move above the $10k mark. However, this momentum for BTC couldn’t continue. The price of BTC fell below the support it has maintained in the past several days.
Other cryptos soon followed with a bearish sentiment. There was a sea of red for nearly all the top cryptocurrencies. Who are the best performers?
Cardano (ADA) Price Today – ADA / USD
A new EOS-based exchange, Bitfinex, is set to be launched on July 30 by Bitfinex. This adds to the growing list of initiatives put in place to facilitate mass adoption. The price of EOS was actually struggling last week after falling below the medium-term support at $3.8723. However, the price of EOS was quick to recover from a bearish action and rise above the support position. Nevertheless, the buying volume of EOS wasn’t high enough to ensure a push higher for the price of EOS. The price action began to consolidate near the support area.
LEO is another surprise entry into the list of best performing altcoins for the week. LEO for short is the native coin of Bitfinex exchange. The crypto has only a short trading history. Which is why we will only observe the short-term charts for the coin. The price of LEO is currently hovering around $1.20 which is a support area. If the coin’s price falls under this position, it may go on to correct at $1.0075. On the other hand, should the price break above $1.40 it may rally up to the $2.0 area.
Ethereum Classic, the coin that came off the fork from Ethereum Blockchain is one of the altcoins to watch. Despite enduring a decrease of over 4% in its price, the value of ETC places it among the best performing coins. It is the third-best performing crypto for last week. The coins crucial current support area lies at the $3.4 mark. The price of ETC has actually been trading around this area for the past ten months. This seems like a good sign that the price of the coin can see a correction if the $3.4 mark isn’t maintained.
Cardano was actually the fourth-best performer in the last week. The coin’s price initially had a decrease of at least 4% in its price. Before bouncing back up. The next primary resistance position lies at the $0.10 area. The ADA price trend indicates that the coin broke the $0.0592761 area which is a support level last week. Now it has continued to show great promise and progress since then onwards. However, if the price of ADA falls below the $0.050 area a correction can take place.
Monero has reportedly had a bullish price action in recent weeks. The asset class has been trying to enter into the list of the top ten cryptos by market capitalization. The digital asset is currently supported at the $81 mark. The upper support areas for the Monero protocol lie at the $91 price position. While the lower support positions stand at the $61 mark.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.