Amid The Red Sea, Some Are In Green, Why?

The broader crypto market has experienced a significant downturn in the past week. The value of most cryptocurrencies has plunged. Bitcoin (BTC) has borne the brunt of the decline observed in the market. Thus, it is dragging the broader market with it.

The broader crypto market has seen a downturn in the past week, with most cryptocurrencies suffering losses. However, a few altcoins in the top 100 have managed to stay in the green, defying the overall market trend.

Here's a look at some of these cryptocurrencies and the possible factors that could be contributing to their positive price action:

1. AAVE (AAVE): Aave, a decentralized lending protocol, has seen a surge in its token price, with gains of over 13% in the past 7 days. Aave's strong support at $80 has been tested multiple times, helping the token sustain itself in the green zone.

Aave's price has been showing a range-bound movement between $80 and $120. A liquidity grab on July 5th pushed the price up, leading to gains of over 60% in the past 30 days.

The token's price has been showing a run from the lower border to the upper border of this range.

Now, the price is facing resistance at the upper border. If it manages to break through, we could see a spike, capturing the $134 and $145 price targets.

AAVE's price showing next big move soon? AAVE price has seen a surge in its run this week, with gains of over 13% in the past 7 days, while the broader crypto market faced a downturn.

Aave's strong support at $80 has been tested multiple times, impacting the token's ability to stay in the green zone.

Aave's price showed a range-bound movement between $80 and $120. A liquidity grab on July 5th pushed the price up, leading to gains of over 60% in the past 30 days.

The token's price showed a run from the lower border to the upper border of this range.

If the price dips below $105, we could see a deterioration toward the lower border of the range. $96 could be a support to watch out for.

At the time of writing, the indicators fully support the bullishness ahead. The price has pierced both the 50-day and 200-day EMA bands.

Meanwhile, the MACD has formed a bullish cross above the zero line with a histogram at 1.54. The RSI was above the median line at 64.30.

2. WhiteBIT Coin (WBT): WhiteBIT Coin, a utility token used on the WhiteBIT cryptocurrency exchange, showed resilience with a surge of 2.8% this week.

3. Fasttoken (FTN): Fasttoken, a cryptocurrency designed for fast and low-cost transactions, also showed some strength with a 0.5% gain this week.

Both WBT and FTN are in the top 100 cryptocurrencies by market capitalization, and their positive price action could be influenced by various factors, including their own ecosystem developments, community support, and overall market sentiment toward altcoins.

As of last check, WBT was trading at $10.32 and FTN at $2.34, both in the green zone.

According to the RSI indicator, the WBT price seems to be overbought. This could lead to a consolidation or pullback in the WBT price to gain strength in price again. However, overall, WBT looks primed for a larger trend.

Similarly, the RSI indicator in the FTN coin shows room for more growth and signifies the greater possibility of FTN to ripe more gains ahead.