The cryptocurrency market continues displaying a mixed price action with the price of Bitcoin constantly hovering close to its important resistance/support level of $58,000.
However, taking advantage of the present situation, mid-cap altcoins have regained momentum and added significant value to their respective portfolios within a short period. Planning on investing in such altcoins?
Scroll down as, in this article, we have covered the market trend, price action, and short-lived price projections of the top 3 altcoins that have the potential to outperform top cryptocurrencies during the upcoming weeks.
THORChain (RUNE) Price Action
With the rising volatility, the RUNE price has recorded a jump of 5.83% within the past day with a trading volume of $292.59 Million. Further, it has added approximately 19% over the past week. Notably, with a market cap of $1.258 Billion, it has secured the 52nd position in the global crypto-list.
The Moving Average Convergence Divergence (MACD) has displayed a rise in the green histogram, indicating an increase in the buying pressure. Further, with a bullish convergence, this altcoin suggests a positive outlook in the coming time.
Suppose, the bulls continue gaining momentum, in that case, the THORChain price will head toward its upper resistance level of $6.140. Conversely, if the bears regain power, the RUNE price will retest its crucial support level of $2.925.
Injective (INJ) Price Action
The Injective price continues to display a sideways price action over the past few days, indicating weak buying and selling pressure for the altcoin in the cryptocurrency market. However, despite rising bearish sentiment, it has jumped approximately 6% over the past seven days.
The technical indicator, RSI continues hovering close to its mid-point, suggesting a weak price action for the altcoin in the market. Moreover, the average trendline displays a constant flatline, suggesting uncertainty in future price action.
If the market regains momentum, the INJ price will prepare to test its important resistance level of $21.35 this month. However, if the bears dominate the market, the Injective crypto could plunge toward its low of $15.
Aave (AAVE) Price Action
The Aave crypto price has displayed a strong bullish action since the year started. Notably, it has jumped 3.36% within the past day and 13.39% over the past week. With a monthly gain of approximately 11%, it has secured the 47th position with a valuation of $1.629 Billion.
The MACD indicator has recorded a strong bullish reversal in its chart, highlighting increased buying-over-selling pressure within the market. On the other hand, the averages display a high possibility of a positive crossover, suggesting that the AAVE coin price will continue gaining value.
If the bulls breach their important resistance zone above the $105.50 level, this altcoin could head toward its upper resistance level of $131. Negatively, if the bears regain momentum, the AAVE price will retest its lower support level of $93.75.
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