Despite the much-awaited Ethereum ETF launch, Solana, Helium, and MEW outshine as best best-performing top altcoins with impressive gains and speculative future growth.
This week in crypto has been eventful and deserves our attention to analyze the future market momentum, Though there are no major swings in the total marketcap, the events set the bars green and strong.
Getting started with the long-awaited approval from the United States Securities and Exchange Commission (SEC).
Notably, the ETF trades have stood up to the expectations generating over $1 billion of volume in the first 2 days. This is also nearly 20% of BTC-generated volume.
However, we’ve also seen continued ETF outflows, pushing the ETH price to nearly 6% down since the launch of ETFs.
Grayscale’s ETHE alone registered a total outflow of $346.22 million since the launch, whereas other issuers like Blackrock are in the top with an inflow of $70.93 million.
Despite all the uncertainty of altcoins to perform, these altcoins have made gains this week.
The memecoins favorite Solana(SOL) today flipped BNB with $85.89 Billion. Trading at $184.86 at press time, the crypto has moved 9.17% this week and the rally continues.
SOL/USDT chart shows Solana flipped the $182 resistance into support in the early session. If Solana manages to withstand the $184 resistance zone, the path to $192 is clear.
The psychological barrier stands at $200 and remains an ultimate target for bulls. The MACD reading now in 4-hour candles shows a bullish momentum ahead. If rejected the price would take correction towards established support of $189 and a more critical one at $171.
The leading DePin project Helium(HNT) responded positively to the significant fundamental updates. HNT now trading at $5.34, moved 20.78% in the last 7 days.
The HNT/USDT chart shows the asset made a breakout from the ascending trendline and created higher highs in the last 12 days. The asset is closer to witnessing a golden cross with 50D and 200 Days SMA
RSI currently is in the overbought zone could lead to sideway sessions shortly, but the overall trend stays bullish.
The popular cat-themed meme coins MEW makes a massive jump to 65.6% this week, currently reading at $0.0082. Where the coin is moving above all moving averages, the technical signals are mixed.
In the MEW/USDT Chart, The RSI at 75 shows overbought conditions, but the Commodity Channel Index (CCI) at 114 indicates a sell signal. Though the current MACD shows a positive momentum, the mid-term sentiment stays bullish.
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