Last week, a brief rebound was seen across the crypto market following reports of a ceasefire agreement between Israel and Iran.
The development injected updated optimism into the risk market, leading to a short-lived recovery that spans the first week of July. Today, with the wider market sentiment being bullish, some altcoins are poised to continue climbing.
A stocky penguin (penguin)
Pengu has grown 70% over the past week and is currently trading at $0.014. During the early Asian trading session on Monday, Altcoin surged to a 47-day high of $0.0155 as demand surged.
Apart from improving sentiment in the broader market, penguin gatherings are driven by the climbing demand for improper tokens (NFTs) in Pudgy Penguins. According to Cryptoslam, the collection has recorded sales of $1.44 million over the past seven days, representing a 34% increase compared to the previous week.
The surge in trading activity was not limited to volume alone. The number of sales transactions also rose to 63 over the same period, indicating a 31% increase per week.
If this demand rises, Pengui can see a surge in demand pushing prices to $0.015. This violation of resistance could drive Altcoin to $0.017.
On the other hand, if demand drops, the pen could drop to $0.012
bull
Called “The King of Memes and the Official Mascot of Bull Market,” Brula is another top coin gecko winner who will pay attention to the first week of July. At the time of this writing, it traded at $0.1173, up 178% over the past week.
Bulla/USD 1-day chart shows the token Aron Up line at 85.71%, confirming the strength of the rally. The AROON indicator measures the strength and direction of a trend. It consists of two lines: Aron Up tracks bullish momentum, and Aron Down tracks bearish pressure.
If the assets’ AROON UP line is close to 100%, it has recently shown new highest momentum, showing strong upward momentum and a dominant bullish trend.
If demand is high, Bulla’s price could revisit its all-time high of $0.128.
On the other hand, if demand drops, the token price could drop to $0.105
Jupiter (jup)
Jup, a native token for Solana-based decentralized exchange (DEX) Jupiter, is one of Coingecko’s top-performing assets to watch this week. It’s up 29% during review period, and you’ll be exchanging your hands for $0.44 when pressed.
The JUP/USD one-day chart measurements highlight the steadily rising smart money index for tokens over the past seven days, highlighting an increase in demand from key token holders. This is currently at 1.35, up 8% over the past week.
Asset SMI tracks the activity of experienced or institutional investors by analyzing market behavior during the first and last hours of a transaction.
If it drops, it suggests that activities from these holders will be sold, pointing to expectations of a lower price.
Conversely, like JUP, as with the rise in indicators, it shows an increase in purchasing activity, increasing reliability in assets.
As demand continues to increase, the price of the JUP could exceed $0.47.
Meanwhile, when purchasing pressure is flattened, the token price could drop to $0.38.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
