Amid the crypto market's steady recovery, mid- and small-cap altcoins have taken center stage, recording significant growth in their portfolios over the past few days.
Planning to invest in small cap altcoins to maximize profits this altcoin season?
Read on as we take a detailed look at the market sentiment, price analysis, and possible short-term price targets of the top three small-cap altcoins that could outperform leading cryptocurrencies in the coming weeks.
Aevo (AEVO):
After recording a correction of about 3% over the past week and 19.26% over the past 30 days, AEVO price recorded a jump of 5.26% over the last day with a trading volume of $31.56 million. Moreover, with a market cap of $317.40 million, it secured the 145th position.
The Relative Strength Index (RSI) is showing a flat line on the Aevo price chart, indicating weak buying and selling pressure in the crypto space. However, the SMA indicator is recording a bullish convergence, indicating uncertainty about future price action.
If the bulls regain momentum, AEVO price will break out of its resistance level and prepare to test its overhead resistance level at $1,310. Conversely, bearish action could see this altcoin fall to a new all-time low (ATL) in the coming weeks.
QuarkChain (QKC):
With the cryptocurrency market becoming more volatile, the price of QuarkChain has jumped by over 2% in the last day and 37.82% in the last week. Moreover, it has risen by 47.22% in the last 30 days, highlighting the growing bullish sentiment towards the altcoin.
The moving average convergence divergence (MACD) shows an ascending green histogram, and its average values indicate bullish action. On the other hand, the RSI continues to fluctuate near its overbought range, indicating strong bullish influence on the altcoin in the market.
If the market continues to trade under the bullish influence, the QKC price will break its important resistance level of $0.0128 and head towards its upper high of $0.0159. However, if the bears regain momentum, the QuarkChain price will retest its low of $0.00610.
Waves (WAVES):
Despite recording a 1.98% drop in the last 24 hours, Waves price has risen 11.03% in the last week and 26.52% in the last 30 days. Moreover, with a circulating supply of 115,358,650 WAVES tokens, it has secured the 271st position with a market cap of $134.60 million.
The MACD technical indicator is showing a neutral trend on the Waves price chart, and its averages are recording a similar price trend. This indicates weak buying and selling pressure for the crypto token in the market.
Assuming the bulls regain momentum, WAVES price will head towards its resistance level at $1,750 in the near future. On the negative side, bearish action could see this altcoin fall towards its important support level at $0.870.