Altcoins Continue Their Upward Trend And Mark Higher Highs And Lows

Weekly cryptocurrency analysis of SPX, FARTCOIN, ENA, VIRTUAL and XLM brought to you by Coinidol.com.

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Several altcoins have recovered from their recent slump. They are showing a pattern of higher highs and higher lows.

Others, however, have stalled at their previous highs as the cryptocurrency market has resumed its sideways movement.

SPX6900

SPX6900 (SPX) has been in an uptrend since its inception in December 2024. On December 20, 2024, the altcoin reached a low of $0.536. The cryptocurrency value consolidated above the support level of $0.60 before rising again. 

On January 4, 2025, the altcoin rose to a high of $1.67 before retreating. The extended candlestick wick on January 4, 2025 indicates strong selling pressure at a high of $1.60. The altcoin has retreated and is trading below the $1.40 resistance level. SPX is the best performing cryptocurrency.

The current price: $1.33

Market capitalization: $1,238,018,200.32

Trading volume: $72,637,090.94

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7-day gain: 54.40%

Fartcoin

Fartcoin (FARTCOIN) is currently in an uptrend with a series of rising highs and lows. The cryptocurrency rose to a high of $1.61 before pulling back. 

The price indicator shows that the cryptocurrency continues to rise. During the rise on December 20, a candlestick body tested the 50% Fibonacci retracement level. The retracement suggests that the altcoin will continue to rise to the 2.0 Fibonacci extension high at $2.43. Meanwhile, the altcoin is trading below $1.50 in anticipation of a positive trend. FARTCOIN is the second best performing cryptocurrency. 

The current price: $1.42

Market capitalization: 1,423,898,890.24

Trading volume: $70,045,150.06

7-day gain: 47.12%

Ethena

The price of Ethena (ENA) was previously in an uptrend, but the upward momentum was halted at a high of $1.30 since December 15, 2024. 

ENA has been forced into a sideways trend below the barrier at $1.30. It is trading above the moving average line but below the $1.30 barrier. If the bulls break through the resistance at $1.30, the altcoin will rise to its previous high of $1.50. If the altcoin falls below the moving average lines, it will lose value. It will fall to the previous support of $0.90. ENA is the third best performing coin.

The current price: $1.21

Market capitalization: $3,675,686,792.18

Trading volume: $476,908,621.44

7–day gain: 33.71%

Virtuals Protocol

The price of Virtuals Protocol (VIRTUAL) has risen continuously since the rebound on November 26, 2024. The price of the cryptocurrency rose above the $0.50 barrier and reached a high of $5.12. The price of the cryptocurrency fluctuates between higher highs and higher lows. The uptrend has stalled below the $4.50 resistance level. The altcoin is trading above the 21-day SMA but below the resistance at $4.50. The altcoin is currently in the overbought sector of the market. On January 2, 2025, the long candlestick wick signalled significant selling pressure at the high of $5.00. VIRTUAL is the fourth best performing cryptocurrency.

The current price: $4.34

Market capitalization: $4,342,974,599.21

Trading volume: $373,296,955.6

7–day gain: 32.59%

Stellar

Stellar (XLM) is recovering from an earlier decline below the moving average lines. On November 24, 2024, XLM rose to a high of $0.63 before being rejected again. There are candlestick wicks pointing to the high of $0.60. This indicates strong selling pressure at the recent high. XLM fell to a low of $0.32 but has since recovered back above the moving average lines. The altcoin is trading above the moving average lines but below the resistance at the high of $0.60. Once the altcoin breaks above the moving averages, it will resume its uptrend. XLM is the fifth best performing cryptocurrency. 

The current price: $0.4483

Market capitalization: $13,602,664,844.2

Trading volume: $671,291,609.96

7–day gain: 27.91%

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.