The 3 biggest Altcoin earners in the second week of July 2024

Contrary to last week's performance, altcoins recorded significant changes in the second week of July. While there were some surprising entries, some held true to broad expectations.

From BeInCrypto's observations, NotCoin (NOT), Celestia (TIA) and MANTRA (OM) are the three top earners. This analysis explains how it happened and suggests a few others in the class.

NoteCoin (not) breaks from a descending triangle.

With a 42.25% increase over the past seven days, Telegram-based project NotCoin (NOT) is this week's top earner.

Currently, it is trading at $0.014. Between June 4th and July 5th, the value of NotCoin decreased from $0.027 to $0.0094. Amid the 65.78% decline, a descending triangle formed. Considered a bear pattern, a descending triangle is seen when a cryptocurrency hits a series of lower highs and lower lows.

This pattern shows weakness and indicates that the bulls are out of control. However, Triangle like NoteCoin can sometimes get ahead before disappearing.

According to the 4-hour chart, the bulls noticed that the selling pressure was weak when the price reached $0.0094. In turn, they took advantage of his weakness. Notcoin reached $0.017 on July 8, driven by strong demand.

However, the relative strength index (RSI), which measures momentum, shows that the altcoin is overbought when the reading crosses 70.00. At the time of publication, the RSI reading has dropped, and is in line with Notcoin's price.

If the velocity continues to decrease, the NOT will not follow the same direction. If this is the case, the price may drop to $0.012. However, if the buying pressure increases, the largest altcoin profit price can change to $0.016.

Read more: Notcoin (NOT) Price Prediction 2024/2025/2030

Celestia (TIA) is up 35% for the first time in months.

Earlier in the week, we reported how Celestia (TIA) broke a five-month downtrend after hitting its lowest point since November.

The split made TIA the biggest altcoin gainer of the second week of July. In the past seven days, TIA's price has increased by 35.04%.

According to the daily chart, the token was oversold around the last week of June. This is reflected in the Money Flow Index (MFI). Usually, when the MFI is above 80.00, the crypto in question is overbought.

On the other hand, a reading of 20.00 or below means that it is oversold. During the week, the MFI rose. This buying pressure was one of the reasons for the price increase.

As the price drops to $6.62, MFI is on the verge of jumping off the neutral line. If successful, TIA will revisit $7 shortly. If not, the token will be closer to $6.06.

MANTRA (OM) is again a heavyweight component.

MANTRA (OM) was one of the biggest altcoin gainers in the first week of July 2024. Thanks to a seven-day increase of 32.05%, it has emerged for the second time in a row.

At press time, OM is trading at $1.03. Unlike the other two altcoins mentioned above, MANTRA is maintaining the highest growth.

Analysis shows that the strong support at $0.74 was useful for a break of the $0.90 resistance mark. It could reach $1.10, forming an upward channel. This is supported by Awesome oscillator (AO).

AO measures momentum by using the difference between a 34-period Simple Moving Average (SMA) and a 5-period.

Read more: 11 Cryptos to Add to Your Portfolio Ahead of the Altcoin Phase

Positive values ​​indicate an increase, while negative values ​​indicate the opposite. As of this writing, the rating remains positive, hinting at further improvement.

If this trend continues, the price of OM will reach $1.10. If not, the altcoin could drop back down to $0.90.

In addition, other gainers of the week include Optimism (OP) – the symbol of Ethereum layer-2, Conflux (CFX), and Ronin (RON).