The past week has seen a notable surge in crypto trading activity, fueled by improving market sentiment and investor confidence. This uptick is reflected in the 3% increase in the global crypto market capitalization over the last seven days.
As attention returns to altcoins, several lesser-known tokens have emerged as standout performers. According to Coingecko’s data, here are three top gainers to keep an eye on for the third week of July:
Epic Chain (EPIC)
EPIC has surged by an impressive 155% over the past week, currently trading at $2.50. The daily chart reveals that the altcoin’s Elder-Ray Index has consistently printed prominent histogram bars over the last four days, indicating strong accumulation by market participants.
The Elder-Ray Index, crucial for gauging market momentum, measures the strength of bulls and bears. It analyzes the difference between an asset’s price and its exponential moving average (EMA). A positive Elder-Ray reading suggests that buyers are dominant, with prices trading above the EMA, pointing to robust buying momentum.
This current bullish momentum implies that EPIC buyers are in control, potentially pushing prices higher in the short term. Should this trend continue, a rally above $2.63 is conceivable. However, traders should be cautious; should demand wane, the altcoin could reverse its recent gains and dip to $2.21.
Mango Network (MGO)
Mango Network (MGO) is yet another altcoin making waves this week. Currently trading at $0.0272, MGO has seen a remarkable increase of 128% over the past week. Its recent surge has propelled the token’s price above the crucial 20-day EMA, which now serves as dynamic support at $0.017.
The 20-day EMA is significant as it reflects the average price of an asset over the past 20 trading days, with more weight given to recent prices. Trading above the 20-day EMA indicates short-term bullish momentum, suggesting that buyers are currently in control. If momentum continues, MGO could extend its rally, potentially reaching $0.029.
However, if profit-taking occurs, the coin’s price could dip below $0.026, so traders should remain vigilant.
ZORA
Next on our list is ZORA, which has shown remarkable growth this week. Trading at $0.0211, the token is up nearly 90% over the past seven days. What’s particularly noteworthy is ZORA’s performance in the last 24 hours, where it recorded a staggering 40% growth. During this period, trading volume skyrocketed by 293%, reaching $161.17 million—an indicator of strong bullish momentum and heightened investor interest.
This surge in price and trading volume suggests that market participants are backing the rally. If the current trend continues, ZORA could break past the resistance level of $0.0215 and climb towards $0.0253.
Nevertheless, should demand start to decline, the altcoin’s value could fall back to $0.0186, raising concerns among investors.
Disclaimer
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