The cryptocurrency market staged a mild recovery last week. Despite Bitcoin (BTC) facing initial setbacks, it eventually recovered some lost ground.
Some altcoins recorded impressive and more robust recoveries. This resulted in the global cryptocurrency market recouping $70 billion, ending the week at $2.21 trillion total market cap.
Here are our top picks for cryptocurrencies to watch this week based on their recent impressive performances:
XLM reclaims $0.1 in 12% gain
Stellar (XLM) experienced a 7.40% drop on July 7 but gradually recovered. On July 13, XLM gained 12.05%, reclaiming the $0.1 mark for the first time in a month.
Data from Santiment confirms a spike in Stellar’s weekly volatility to a one-month peak. The asset’s MACD line crossing above the Signal line confirms bullish momentum. Investors should watch resistance at $0.1096.
MOG retests ATH
Mog Coin (MOG) saw a 20.4% drop on July 7 but recovered over the next three days with a 28.8% increase. The coin closed the week with a 3.5% gain.
MOG faced resistance at $0.0000019 but aims to flip the upper Bollinger Band at $0.000001925 to support. This could facilitate another retest of the ATH region.
MANA struggles at 20-day EMA
Decentraland (MANA) initially dropped 6.10% on July 7 but regained momentum. It saw six consecutive days of gains and breached the 20-day EMA, indicating a bullish trend.
However, MANA’s RSI suggests reduced strength, and bears might flip the 20-day EMA to resistance. The Fibonacci 0.236 level at $0.3085 is crucial for defending against declines below $0.30.
