UFC Star Conor McGregor Signals Interest in XRP Amid US Plans for Strategic Crypto Reserve

The past week saw a brief rebound across the crypto market, following reports of a ceasefire agreement between Israel and Iran. 

This development injected renewed optimism into risk markets, leading to a short-lived recovery that might extend into the first week of July. With the broader market sentiment bullish today, some altcoins are poised to keep climbing.

Pudgy Penguins (PENGU)

PENGU is up 70% over the past week and currently trades at $0.014. During Monday’s early Asian trading session, the altcoin surged to a 47-day high of $0.0155 as demand soared.

Apart from improvements in the broader market’s sentiment, PENGU’s rally is driven by the climbing demand for Pudgy Penguins’ non-fungible tokens (NFTs). According to CryptoSlam, the collection recorded $1.44 million in sales 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 climbed to 63 during the same period, marking a 31% uptick week-over-week.

If this demand rises, PENGU could see a demand spike pushing its price to $0.015. A breach of this resistance could propel the altcoin to $0.017.

On the other hand, if demand falls, PENGU could fall to $0.012

BULLA

Described as “the king of memes and the official mascot of the bull market,” BULLA is another top Coingecko gainer to pay attention to in the first week of July. As of this writing, it trades at $0.1173, climbing by 178% over the past week.

On the BULLA/USD one-day chart, the token’s Aroon Up Line is at 85.71%, confirming the rally’s strength. The Aroon indicator measures the strength and direction of a trend. It comprises two lines: Aroon Up, which tracks bullish momentum, and Aroon Down, which tracks bearish pressure. 

When an asset’s Aroon Up line is at or close to 100%, it has recently hit a new high, signaling strong upward momentum and a dominant bullish trend. 

If demand remains high, BULLA’s price could revisit its all-time high of $0.128.

On the other hand, if demand falls, the token’s price could fall to $0.105

Jupiter (JUP)

JUP, the native token of the Solana-based decentralized exchange (DEX) Jupiter, is one of Coingecko’s top-performing assets to watch this week. It is up 29% during the review period, exchanging hands at $0.44 at press time.

Readings from the JUP/USD one-day chart show a steady rise in the token’s Smart Money Index in the past seven days, highlighting increased demand from key token holders. This is currently at 1.35, climbing 8% in the past week. 

An asset’s SMI tracks the activity of experienced or institutional investors by analyzing market behavior during the first and last hours of trading. 

When it drops, it suggests selling activity from these holders, pointing to expectations of price declines. 

Conversely, as with JUP, when the indicator rises, it indicates increased buying activity, signaling growing confidence in the asset. 

If demand continues to increase, JUP’s price could break above $0.47.

On the other hand, if buying pressure flattens, the token’s price could drop toward $0.38.

The post 3 CoinGecko Top Gainers to Watch for the First Week of July appeared first on BeInCrypto.

Hedera’s HBAR has bucked the broader market dip to record a slight 1% rally over the past 24 hours. As of this writing, the altcoin trades at $0.17. 

This upward movement comes amidst signs of a resurgence in new demand for the altcoin, as highlighted by key technical indicators on the daily chart.

HBAR Bullish Trend Gains Strength

Readings from HBAR’s Moving Average Convergence Divergence (MACD) reveal that on April 9, the token’s  MACD line (blue) climbed above its signal line (orange), forming a “golden cross.”

A golden cross occurs when the MACD line crosses above the signal line, signaling a potential bullish trend and increased buying pressure. This confirms that HBAR’s upward momentum is gaining strength, especially as investors commonly view this pattern as a buy signal.

Moreover, as of this writing, HBAR’s Relative Strength Index (RSI) is poised to break above the 50-neutral line, highlighting the spike in fresh demand for the altcoin. It is currently at 49.17 and remains in an uptrend.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

At 49.17 and climbing, HBAR’s RSI signals a gradual shift from bearish territory into a more neutral zone. If the altcoin’s RSI continues to rise above 50, it would signal increasing bullish sentiment, driving up HBAR’s value. 

HBAR Eyes $0.19 Amid Strong Buying Pressure

HBAR’s surge over the past day has pushed its price above the key resistance formed at $0.16, which has kept the token in a downtrend since March 30.

With growing buying pressure, the token could flip this zone into a support floor. If successful, it could propel HBAR’s price to $0.19.

However, if traders resume profit-taking, HBAR’s current rally would halt, and the token’s price could fall below $0.16 and decline toward $0.12. 

The post Hedera (HBAR) Surges as Demand Reignites Hopes of a Price Bounce appeared first on BeInCrypto.