Best Performing Cryptocurrencies for This Week

Cryptocurrencies have also played an important role in the adoption of blockchain technology. However, traders often see cryptocurrencies as a chance to earn passive income and they are always on the lookout for the best-performing cryptocurrencies.

When looking at this week, many top cryptocurrencies observed a sign of consolidation, yet, few digital tokens showcased an exceptional performance. Most of the coins below experienced a continuous surge as the prices gradually continued to rise, even though, many tokens were at a standstill position.

Without further ado, let’s take a look at the top-performing cryptocurrencies for this week and the reasons why they have earned a place on this list

SingularityNET (AGIX)

At the start of this week, SingularityNET’s native token, AGIX, was racing around the last position in the top 10 performing coins. However, AGIX made a surprising comeback after being placed first in this race.

The weekly chart shows that AGIX was facing an upward trajectory, gradually climbing to the top. As an AI crypto, AGIX’s race to first place indicates that the crypto community is still interested in the cutting-edge features of Artificial Intelligence. AGIX is currently priced at 0.5043, after experiencing a surge of 24.09% in seven days. Moreover, it experienced a triple-digit price spike of 197.57% over 30 days, at the time of writing.

Observing the hourly price chart, when compared to other AI cryptos, AGIX showed another tremendous performance this week after it made a new all-time high for this new year. Like many AI cryptos, AGIX witnessed a great price spike at the start of this month. AGIX was initially under the 200 EMA and the 50 EMA, however, by Monday, a golden cross formed, indicating the start of the bull run.

After the formation of the golden cross, AGIX started to soar in price. AGIX made a massive leap on Tuesday making its mark among the top-performing cryptocurrencies and continued to rise. However, by the start of March, AGIX started to form a double-top pattern. This pattern is often considered a signal for traders to sell as the price could fall.

Moreover, the RSI is valued at 46.25, which is neither in the oversold nor overbought region. This could be an indication that AGIX’s trend is unpredictable. While AGIX showed great performance this week, the market sentiment for AGIX continues to be unpredictable for now.

Maker (MKR)

Many of the cryptos joined the race for the top-performing coins this week on the first day, however, Maker made a late entry. On the second day of the competition, Maker had just crossed the 200 EMA indicator, which was the same day when the golden cross was formed, indicating a possible bull run signal.

MKR is currently priced at $889.81 with a surge of 17.07% in seven days. Moreover, over 30 days, MKR rose by 37.54% with trading volume for the last 24 hours standing at $194,364,990.

After the formation of the golden cross, Maker started to incline upwards slowly. On Wednesday, MKR observed a price spike, which created a difference from $791.49 to $927.93 the next day. Although, MKR has currently started its descent, there is a notable disparity between the 50 EMA and 200 EMA, giving out an indication that it will take some time before the formation of the death cross.

The Relative Strength Index (RSI) is currently valued at 47.28, however, the trajectory is pointed upwards. If the RSI crosses over SMA, it could go into the overbought region, thus, further increasing the prices of MKR over the coming days. If the RSI reaches the overbought region as the price rises, traders should note that this could be considered one of the best times to sell MKR.

NEM (XEM)

Similar to MKR, XEM made a surprising entry mid-race through its giant leap from $0.4131 to $0.6199. XEM’s price spike on Monday has secured itself the third position in the top-performing tokens for this week. NEM (XEM) is currently priced at 0.4823 with a surge of 13.88% in just one week. Moreover, the trading volume for 24 hours is valued at $28,270,592 while facing a 53.77% tumble, which could indicate that communities’ interest in this crypto has decreased for now.

Looking at the hourly price charts, NEM is currently just below the 200 EMA line which could indicate that the bull will come into power soon. XEM experienced a golden cross at the start of the week exactly at the time when XEM made a giant leap. However, starting from Tuesday, XEM witnessed higher highs and lowers lows forming as it continued to slide at its current position.

The 50 EMA and the 200 EMA are gradually getting closer, eventually forming the death cross, which could indicate that there could be a bear season arriving soon for XEM. Moreover, the Relative Strength Index(RSI) could support the market sentiment of XEM soon as it is valued at 33.63, which is close to the oversold territory.

Even though the RSI is currently above the SMA, it is pointed downward indicating that its current trajectory could go deeper into the oversold region. This could also be a market hiccup as XEM may witness a trend reversal, which was also observed on Monday.

Traders must wait for a few days after receiving confirmation from the indicators about the XEM’s price movement.

dYdX (DYDX)

While many cryptocurrencies remained at a standstill,  DYDX (dYdX), a governance token for a layer 2 protocol, started this week, experiencing a gradual rise in its price. However, on Sunday, it started to form a rising wedge pattern, as higher highs and high lows started could be observed. This whole week dYdX, with a market cap of $418,154,857, was residing in the green area of the crypto world, however, it is facing a downfall in its price by 15.84%, at the time of writing.

Moving on to the hourly chart, dYdX observed a golden cross forming as the 50 EMA and the 200 EMA cross each other’s paths. The golden cross gave out an indication that dYdX will continue to run with the bulls, during this week. However, at the peak of the rising wedge pattern, dYdX started to slip. On Friday, dYdX fell from $3.039 to $2.607, with a possibility that 50 EMA and 200 EMA could converge soon.

The Relative Strength Index (RSI) is currently valued at 25.29, which is in the oversold region. RSI also confirms that the market sentiment could be a facing downtrend soon. However, the RSI point upwards indicating that it could leave the oversold region soon, with the prices rising.

Furthermore, with the price jumps dYdX experienced during the week, this cryptocurrency deserves to be among the top-performing coin.

Stacks (STX)

While many major cryptocurrencies were falling, Stacks (STX) made a significant jump at the start of the week. This led STX to earn its place among the top-performing cryptos for this week. When looking at the weekly charts, STX was residing in the red zone, however, it started its ascend into the green area.

STX was initially leading, yet, by the end of the week, Stacks’ native token ended in the fifth position during the top 10 cryptos race for this week. However, STX still showed a remarkable performance with a price spike of 235% in 30 days. At the time of writing, STX is priced at $0.9144 witnessing an upsurge of 6.66% over this week.

Looking at the 4-hour chart, STX is showing a rising wedge pattern, as there is a formation of higher highs and higher lows as it gradually moves upwards. Although it is currently trending upwards, STX could face a downfall over the coming days, weeks, or months. However, the 200 EMA shows that STX could continue in the uptrend as there is a significant gap observed between the price and the indicator.

Moreover, the RSI (Relative Strength Index) is currently under the SMA, which could be an indication of a bearish signal. RSI is valued at 54.34 which is often considered the neutral zone by many traders.

The trajectory of RSI is currently horizontal which makes it difficult to adjudicate the market’s behavior. Traders should be cautious while trading with STX in the coming weeks, as there is a chance it could face the bear’s attack soon.

Synthetix (SNX)

This week, Synthetix (SNX) also put on a spectacular show, as it earned itself a spot among the top-performing coins. SNX opened trading at $2.64 and reached a high of $3.05 over the week. However, it is currently facing a fall of 9.56% in 24 hours with a market cap valued at $664,967,560.

The hourly chart shows that SNX is currently below the 200 EMA line, which could indicate that price is facing a downtrend. Earlier, at the start of this week, SNX crossed the 200 EMA indicator’s path and flew above it. This signaled that the powers belonged to the bull as the price continued to rise. However, by Friday, SNX tumbled back to its support region which ranged from $2.56 and $2.60.

Moreover, the Relative Strength Index (RSI) is valued at 32.55, which is close to the oversold region, which is considered the ideal time to buy. When observing RSI’s trajectory, it fell below SMA into the oversold region; however, it recovered from the pit. SNX is currently suffering from the bear’s attack. The Bull Bear Power also confirms downtrend sentiment as it is currently valued at negative 0.204, which shows that bears are in power.

Still, over the week, SNX provided a short burst in its price as it kept growing till Thursday. This unexpected surge helped SNX become one of the top 10 performing cryptos for this week.

Frax Share (FXS)

One thing common that most of the top-performing coins experience is that they face a downfall on the last day of this weak. Similar to the coins listed above, Frax share (FXS), a  governance token for the “Frax Protocol” also fell from the peak of its rising wedge pattern, which was formed over the week.

Looking at its performance over the week, FXS started in the red zone, however, made a temporary home in the green area by Monday. At the time of writing, FXS has a market cap of $768,582,311, while facing a price fall of 12.60% in one day.

The hourly chart of FXS shows that the price made a huge leap on Monday, crossing beyond the 200 EMA. Ever since FXS started to form a rising wedge pattern with the formation of many higher highs and higher lows.

Once FXS reached the peak of the rising wedge and started to fall below the 200 EMA indicating the start of the bear season. As the RSI (Relative Strength Index) is currently at 32.19, it could soon enter into the oversold region.  This would prove that FXS will face the bear season for some time.

ssv.network (SSV)

SSV is another top-performing coin that witnessed a triple-digit price surge of 109.92 in 30 days, at the time of writing. SSV’s price was experiencing a rollercoaster ride as it continued to rise and fall.

For instance, starting from Saturday, SSV started to experience an uptrend as it continued to grow. SSV also observed a fall on Tuesday, at the same time, it rose again on Wednesday. Finally, SSV went below the 200 EMA indicator, however, this was a fake signal on bearish sentiment.

The fake signal was a formation of a double bottom pattern, which led SSV to soar above the 200 EMA again. Moreover, SSV’s price is currently above the 200 EMA, which could indicate that it will run with the bulls for some time.

One of the reasons that SSV is among the top-performing coins is because of its ability to recover immediately after its fall during the week. Furthermore, it is one of the few top-performing coins that is currently experiencing an uptrend, while others have started to fall below the 200 EMA.

Moreover, the RSI is currently at 57.42 which is considered the neutral zone for many traders. The trajectory is also pointed downwards which could go below the SMA, which could be a sign that SSV witnesses a descent soon. However, the price of this crypto could also make a reversal soon. Traders must keep a close eye on the indicators closely as the price movement could shift immediately.

Casper (CSPR)

With a market cap of $465,473,890, CSPR is currently experiencing a surge of 4.10%, at the time of writing. CSPR started its accent above the 200 EMA, from Monday onwards. This led CSPR to start climbing toward the top, however, it faced a gigantic slip on Friday touching the 200 EMA’s surface.

CSPR recovered from the great fall as it bounced from the 200 EMA indicator and is currently shooting upwards. CSPR’s recovery and the consistent price surge led CSPR to become one of the best-performing cryptocurrencies.

Furthermore, the RSI is valued at 56.97 which is the neutral territory for traders. However, a golden cross was formed as the RSI bumped into the SMA during its journey toward the overbought region. The RSI is also pointed upwards which could indicate that the uptrend will continue till RSI reaches the overbought. At the time, CSPR could go through a price correction again.

CSPR’s market behavior could be confirmed only after observing the indicators over some time.

Litecoin (LTC)

While many of the popular coins were showing signs of consolidation and bear season, Litecoin was the only cryptocurrency, among the top-ranking cryptos, that showed tremendous behavior over this week. LTC was continuously struggling to stay afloat above the 200 EMA as it continued to dip over this week. However, LTC fought hard and finally formed a double bottom pattern, which was the first positive sign of an uptrend.

LTC gained a little momentum on Tuesday as the price observed a surge, yet, it fell below the 200 EMA. Finally, on Wednesday, LTC continued its climb upwards crossing the 200 EMA. This cryptocurrency continued to stay within the $96 and the $98.

In the end, LTC made a giant fall from the $95 region to the $89. One of the reasons that LTC continues to remain on this list is because of its ever-lasting battle to remain in the uptrend.

Currently, the Relative Strength Index (RSI) is valued at 26.99 which is in the oversold region. However, RSI’s current trajectory shows that it would converge with the SMA, and finally start its journey to exit the oversold area.

Final Thoughts

Many coins were facing the bear’s claws during its downtrend. However, these best-performing cryptocurrencies mentioned in the list have shown an exceptional performance over the week as their price trajectory was faced upwards.

While it’s impossible to expect a triple-digit price surge during a bearish week, some of these best-performing cryptocurrencies, such as STX, SSV, and AGIX experienced a price spike over 30 days. However, most of the coins have already started to decline as they started to face the bear’s attack and some trade analysts predict that crypto could fall soon over the coming week.

However, there is still a chance that a few exceptional digital tokens could stand out when during the dark ages of the crypto world.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.