Biggest Altcoin Gainers of the Third Week of July 2024

For the second consecutive week in July 2024, information surrounding seemingly bullish occasions continues to breathe life into the costs of altcoins. Whereas a number of cryptos have benefited from the shifting sentiment, others have grabbed a a lot bigger share.

Not like final week, the largest altcoin gainer is a meme coin — dogwifhat (WIF) particularly. Nevertheless, the opposite largest altcoin gainers of the week embody Worldcoin (WLD) and Bittensor (TAO).

Dogwifhat (WIF) Defies the Odds, Rallies to Month-to-month Excessive

WIF’s value elevated considerably this week, going up 70.41%. Firstly of the week, WIF traded round $1.50.

For a while, the meme cash oscillated between $1.50 and $1.70. Nevertheless, the large break got here on July 15 because the Relative Power Index (RSI) crossed above the sign line.

The RSI measures momentum utilizing the velocity and dimension of value adjustments. If the studying is under 50.00, a bullish pattern is probably not validated. However on the talked about date, the score jumped above the edge, confirming it as the highest crypto out of the largest altcoin gainers.

Learn Extra: 7 Hot Meme Coins and Altcoins that Are Trending in 2024

At present, WIF is at an important level, particularly because it has surpassed the promote sign displayed by the Supertrend. Ought to the token break previous the resistance round $2.46, it could attain $2.77 or as excessive as $3.08.

In the meantime, Bitcoin’s (BTC) impact on the meme coin’s price is one thing to look at. If BTC falls, the prediction could also be invalidated. If so, WIF could drop towards $2.03.

Worldcoin’s (WLD) Descending Triangle Provides the Value an Higher Hand

WLD secured the second spot on the record of the largest altcoin gainers within the third week of July 2024. At press time, the token trades at $2.61, representing a 49% hike within the final seven days.

Beforehand, BeInCrypto defined how the project had changed and extended its token unlock schedule, inflicting the worth to leap. 

At one level, Worldcoin’s value was $3.28. Earlier than the surge, the token had fashioned a descending triangle on the day by day chart.

A descending triangle clearly exhibits that demand for cryptocurrency is weakening, characterised by a collection of decrease highs and resistance ranges. Nevertheless, as soon as sellers are exhausted, a breakout happens, and that was the scenario with WLD on July 12.

Regardless of the current drawdown, the Superior Oscillator (AO) exhibits that momentum is rising once more. 

If sustained, WLD’s value could rebound, and the following degree it may attain is $3.04. But when the alternative occurs, Worldcoin could drop to $2.46.

Bittensor (TAO) Recovers After Earlier Shutdown

AI-themed token TAO joined the record of the largest altcoin gainers after its value elevated by 35.40%. After forming an ascending channel on the day by day chart, TAO broke the $300 mark for the primary time since June 21.

Other than the sample, the worth development is linked to the most important surge within the value of cryptos with AI fundamentals. As of this writing, TAO’s value is $328.43. 

This is a notable recovery after the price fell by 17% the earlier week. Nevertheless, primarily based on the present scenario and alerts from the On Stability Quantity (OBV), the token’s worth may not endure a notable correction.

The OBV measures the distinction between the shopping for quantity and promoting quantity. Because the score is up, it implies an increase in shopping for stress. If sustained, the worth of TAO could attain near $371.21.

Learn Extra: Which Are the Best Altcoins To Invest in July 2024?

Nevertheless, if the shopping for stress decreases, the token’s worth could fall, and the attainable goal might be round $321.48.