5 Top Crypto Gainers Of The Week: OM, EGLD, TRX, TON, XAUT

• 1 OM surged 15.83% this week; it displays a probable potential rise to $1.
• 2 The top crypto gainers of the week are OM, EGLD, TRX, TON, and XAUT.

Global talk of a season of altcoin appears to have been put to rest after the global crypto market cap briefly slipped beneath $2 Trillion by July 5th.

BTC with a market dominance of 53.7% was equally responsible for the decline, as most of the crypto market often resonates with the BTC price activity.

Global Crypto’s Market Cap | Source: CoinMarketCap

The decline resulted in a larger market price crash in which many altcoins from the top 100 reached lows. Only 5 cryptos have been on the gainers list over the past 7 days. 

Out of the 5 cryptos that managed to gain, one appears is a stablecoin, Tether Gold (XAUT) ranked 94th and witnessed a 1.10% market cap surge. So, excluding XAUT, we have 4 altcoins that gained this week.

Let’s delve into the charts of these four altcoins and know why they are trending this week.

Top Crypto Gainers In Top 100 | Source: CoinMarketCap

In the last seven days, the Mantra (OM) crypto price has advanced by 15.83% is top gainer. At the same time, the one with the least gains on the list was Toncoin (TON), which looks stable with a 0.59% gain.

Can Mantra Shock the Community by Moving Past $1?

MANTRA (OM) had a good start this year after a prolonged flat price action in 2023. It showed a massive 3100% spike from $0.0324 to $1.044 by April 11th, 2024. The earlier run was backed by major Volume Profile (VPs) levels like $0.032, $0.217, $0.677, and $0.713.

OM plunged alongside BTC, dipped to $0.60, and closed at $0.65, which seemed close to the VPs.

Moreover, after consolidating near the $0.67 and $0.71 VPs for a while, the price got a boost on May 30th towards the peak of $1.10 by June 10th, 2024. However, corresponding to BTC, OM deteriorated and was returned to the VPs.

Thus, it showed that the volume profile levels indeed held the OM. Despite BTC declining in June 2024, OM displayed a bullish rise. On July 4th, OM encountered a VP resistance at $0.909, and fell back to the VP level of $0.677.

At press time, OM has traded 12.83% higher and is approaching VP resistance of $0.909 again. If it manages to go above, it could rise to $1.10. However, to go down, the bears need extra pressure to move past the super resistance level of VPs at $0.713 and $0.677, respectively. 

The indicators are bullish, and the 50-day and 200-day EMAs support the price. While MACD had a bullish cross, and RSI flashed at 57.39.

What Do EGLD, TRX, and TON Show on the Daily Chart?

The MultiversX (EGLD) displayed bullish signs and strong potential. Despite the bearish trend, it performed well last week with a 13.65% surge. 

However, the RSI and MACD indicators support this bullish trend, with target resistances at $37 and $45, and failing to do so could lead to a drop towards $22.

The Tron (TRX) price has witnessed a break out of a symmetrical triangle on the daily chart by June 21st, 2024, finding robust support from 50-day and 200-day EMAs. The MACD reflects a steady, bullish cross, and the RSI 71.14 jumped from the 14-SMA. 

TRX was forecasted to advance further, with resistance levels at $0.1401 and $0.1501. Potential support levels are at $0.1151 and $0.1051.

The Toncoin (TON) crypto price traded above the upward trendline and recently showed a liquidity grab on July 5th. It highlights a higher probability of further advances in the TON price. 

The support levels for the TON crypto are $6.01 and $6.81, and resistance levels of $8.80 and 10.0 are on the higher side. 

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.