DOGE is closing the week with massive gains, having seen notable surges over the last seven days. It is among the top gainers in the top 10.
The massive gains do not end with the eighth-largest coin. During this period, the global crypto market registered significant increases. Valuations went above $2.30 trillion, peaking as high as $2.35 trillion. Some altcoins also saw huge price movements.
For example, the FTX token resumed its uptrend after several days of inactivity. The asset is up by over 55% in the last 24 hours. News of the exchange paying up its debt sparked a lot of enthusiasm, driving prices higher. However, shareholders voted to postpone the payout until further notice. Nonetheless, it is up by over 59% over the last seven days.
WIF follows closely behind, with gains exceeding 50% as the community stages massive rallies a few times this week. ENA may also end the week with gains of over 3%.
Other assets in tht top 10 also had good performances. Let’s see how they performed during this period.
XRP/USD
DOGE/USD
Dogecoin has been on the uptrend over the last three days. The latest surge started on Thursday after it rebounded at $0.10. It saw a spike in buying volume, driving prices higher. It surged to a high of $0.12 as momentum peaked. However, it lost the push and slightly retraced but closed with gains of almost 9%.
The uptrend continued the next day. It continued above $0.12 and attempted $0.13 but failed as it faced strong rejections at $0.128. The bears staged a massive selling congestion at the peak, sending prices to $0.123. Nonetheless, it closed with gains exceeding 4%.
DOGE continued retracing as it tested the $0.12 support but rebounded and resumed it surge. It finally broke $0.13. However, it faced correction after hitting this milestone. The almost 4% gain reflected on the candle gives it a semblance with a doji. The asset is printing another doji but not as long as the previous.
Nonetheless, trading actions over the last three days sent DOGE higher on the relative strength index. The metric peaked at 73 but is at 72 at the time of writing. Currently above 70, the cryptocurrency is overbought. Additionally, the altcoin is trading above the bollinger bands. It broke above the upper SMA on Thursday and has since not returned below it.
The asset is trading above its first pivot resistance amidst the bearish signals from other indicators. ADX is also rising.
TON/USD
Toncoin is up by almost 5% over the last seven days. The latest increases come after it printed a doji last week. Nonetheless, several days of significant uptrend resulted in the gains it accumulated.
The most notable started on Wednesday when the general sentiment was almost beearish. It surged after it rebounded at $5.50 the previous day. It continued upward and broke $5.80, peaking a little higher. Although it saw small corrections, it saw gains exceeding 2%. It surged higher the next day as it attempted the $6 resistance but failed due to massive rejections at $5.93.
Following the doji on Thursday, it continued on Friday breaking $6. It peaked at $6.13 and toncoin closed with gains exceeding 3% after it retraced below the highlighted mark.
Trading actions over the last 48 hours shows that the bulls are getting exhausted. The altcoin retraced to a low of $5.82 after it flipped $6. The drop happened as the coin lost momentum and the bears staged selloff with traders taking profit. It dropped further a few hours ago, hitting a low of $5.70. Although it seeing small recovery, indicators are bearish.
One such is the Bollinger band. TON broke out from the upper band during the previous intraday session. Such action may signify the end of the uptrend and the current-day price movement may affirm this claim. Nonetheless, the average direction index is on the uptrend and RSI is still below 70.
ADA/USD
Cardano has not registered any significant price changes in the last three days. Despite the latest price performance, it is up by over 13% this week. Nonetheless, it maintained trading close to its first pivot resistance at $0.40.
The gains on the weekly scale show that the asset registered most of the assets saw significant price movement earlier in the week. This is true as it had a very good start to the session. Monday started with prices at $0.35 but retraced and rebounded off the pivot point. It surged to $0.36 and close with gains exceeding 3%.
The bulls continued the uptrend on Tuesday and ADA surged higher. It attempted $0.40 but failed due to significant rejections at $0.39. Nonetheless, the day ended with the asset trading at $0.38 and registering gains exceeding 6%.
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