Introduction to Altcoin Season
The cryptocurrency market has been abuzz with the recent surge in prices of various altcoins, including OKB, Kucoin, Cardano, Hyperliquid, and Arbitrum. These coins have recorded double-digit rallies in the past seven days, with OKB gathering over 100% and Kucoin receiving almost 20% in response to the “Trust Project” initiative. Cardano made 20% profits, while Hyperliquid’s price rose by 15% and Arbitrum’s prize increased by 10%. This article will delve into the top 5 altcoin price analysis, exploring the current market trends and what they might mean for investors.
Top 5 Altcoin Price Analysis
Among the top 100 cryptocurrencies, OKB, Kucoin, Cardano, Hyperliquid, and Arbitrum have increased between 10% and 100% in the past seven days. While Bitcoin and Ethereum, the two best cryptos, have been steady, the speculation of an altcoin season has been brewing in mid-August. The top 5 altcoins have shown significant gains, with OKB leading the pack. 
Top 5 old coins seven days profits | Source: Coingecko
Cardano Analysis
Cardano is currently trading at $0.9517, shy of the psychologically important level of $1. Two key resistances for ADA are R1 and R2, with USD 1.1723 or USD 1.3264. Momentum indicators RSI and MACD support a bullish thesis for ADA. In the event of a correction, ADA was able to support the support of $0.6800, as can be seen in the following ADA/USDT price chart. 
Ada/USDT daily price diagram | Source: crypto.news
Kucoin Analysis
Kucoin’s KCS token could gather; the setup is similar to ADA. The closest resistance is $8.71, and the closest support is $3.40. The dealers are expected to watch both levels, although the pulse indicators support an expansion of the KCS price rally in the coming week. KCS is trading at $5.91 at the time of writing. 
KCS/USDT Daily Price Chart | Source: crypto.news
OKB Analysis
OKB is trading at $93.91 at the time of writing. The local token token of the OKX Exchange could visit its latest peak of 142.88 US dollars again if it climbs higher. The impulse indicators support the profits in OKB, and the token could expand its rally. RSI indicates that OKB is currently overrated. A drop of less than 70 could create a sales signal. MACD should observe macD after signs of a trend reversal in the native token of the exchange. 
OKB/USDT daily price diagram | Source: crypto.news
Hyperliquid Analysis
The hype could test resistance to R1, the closest level of resistance for the current price at 50 US dollars. The hype is trading at $47.087 at the time of writing. The two closest support levels for hype are $42 and 35 US dollars, which are marked in the following Hype/USDT price diagram. The daily price card from Hype supports a bullish thesis for tokens. RSI reads 59 and beats up. MacD flashes one after the other, larger green histogram beams and signals a positive dynamic of the price trend of the hype. 
Hype/usdt daily price diagram | Source: crypto.news
State of Altcoin Season
The Altcoin relay index reads 47 on a scale from 0 to 100. A reading of 75 and higher it is officially altcoin season, a period in which more than 75% of the 100 best old coins Bitcoin exceed in a 90-day reference frame. Over 249 days have been officially passed since the last Altcoin season. 
Altcoin season index | Source: blockchaincenter.net
Bitcoin and Ethereum Performance
Bitcoin corrected to $117,374 and lost its profits after reaching a new all-time high with $124,474. The 130,000 US dollars are the next destination for BTC if he receives the price discovery. At the time of writing, BTC is less than 11% away from its target of $130,000. Bitcoin could find support at 111,750 US dollars, a level at which BTC can sweep the liquidity up in front of the next leg. RSI and MacD show mixed signals. RSI reads 51 and beats down. MacD flashes green histogram rods over the neutral level and support a bullish thesis for Bitcoin. 
BTC/USDT price diagram | Source: crypto.news
Ethereum is almost 10% away from its former all-time high. The largest old coin in its rally is equipped with a sticky resistance at the goal of 4,800 US dollars. The level of 4,000 US dollars is a psychologically important level of support, and a correction in Ethereum could send the old coin to this level. 
ETH/USDT Daily Price Diagram | Source: crypto.news
Disclosure: This article does not contain investment advice. The content and materials presented on this page only serve for educational purposes. For more information, visit https://crypto.news/okb-kcs-ada-hype-arb-extend-gains-this-week-chart/
