The top 5 cryptos to watch this week are BNB, BTC, ETH, LINK, and LTC.
The crypto markets looked very bullish last week, with many altcoins seeing gains of over 100%. Here are the top 5 cryptos to watch.
The previous week's crypto market looked very bullish, with many altcoins rallying by over 100% in less than two days. The likes of DOGE, BAND, and MASK were leading the charge, creating the feeling of euphoria that comes with a bull market. The price of Bitcoin (BTC) closing the week at a high ahead of a new week was a good sign, but there have been mixed feelings as the price of BTC dropped to a region of $20,600. In the face of that, the price of some altcoins has continued to look good, with many exciting projects coming up and other projects gaining more attention in the crypto space due to the community and partnership deals. Here are the top 5 cryptos you should pay attention to this week.
Bitcoin Price Analysis on the Daily Chart
The price of BTC appears to be rallying from a region of $19,200 with good volume, which could indicate a bullish bias. However, the price was rejected from $21,500, which could mean that the market is not yet ready for a sustained rally.
The current price of BTC is $20,800, which is strong compared to its support at $20,500. There is hope that BTC will rally back to the $21,500-$22,500 range.
If the support at $20,500 breaks down, BTC could see prices go lower to the $19,000 region. This is seen as a demand zone for BTC prices over the weeks.
Price Analysis Of Ethereum (ETH) On The Daily Chart
It is clear that Ethereum is on the rise, with its price outperforming BTC in recent weeks. This bullish trend is likely to continue in the lead up to “The Merge”, with Ethereum reaching a region of $2,030. This is good news for investors in Ethereum, as the price is set to continue its upward trend.
It seems that ETH price is struggling to trend higher, with a rejection at $1,630 and a sell-off to $1,570. This could be due to a resistance level forming at this price point, making it difficult for ETH to move higher.
It is positive news for ETH investors that the price is currently trading above the 50 EMA on the daily timeframe. This indicates that the recent price action has been bullish and that ETH is currently in an uptrend. This is a good time to consider buying ETH or adding to your existing position.
If ETH breaks down below $1,500, we could see the price retesting the $1,400-$1,300 region as a key support area with high demand.
Binance Coin (BNB) Price Analysis: Top 5 Cryptos on the Daily Chart
The price of BNB was rejected from its resistance of $335 after successive trials but was able to break and close above it, rallying to a high of $350 before facing resistance to a region of $400. This is a positive development for the coin, as it indicates that there is strong demand for it at these levels. If BNB can continue to rally and break above the $400 resistance, we could see it head towards new all-time highs.
It is clear that BNB has maintained its bullish structure despite the rejection at $290. This shows that the $250 region is still acting as support for the price of BNB. If the price breaks below this region, it is likely that we will see a retest of the $250 support level.
The digital currency BNB has found good support at $300, corresponding to the 50 EMA. BNB needs to hold above this level to have a chance of trending higher. This is a positive sign for the future of BNB, and digital currencies more broadly.
Price Analysis Of Chainlink (LINK) On The Daily (1D) Chart
The price of LINK has continued its bullish trend, holding well above the range channel after a successful breakout. This is good news for investors, as the coin continues to show strong potential. With the current trend, LINK could see even more gains in the future.
It's been a tough few weeks for cryptocurrency investors, with prices falling across the board. However, one digital currency that has continued to hold its own is LINK.
It is important for the price of LINK to break and close above $9.2 in order for the price to rally to a region of $10 ahead of its anticipated staking. This would provide a much needed boost for the cryptocurrency and help it reach new heights.
Price Analysis Of LTC On The Daily Chart
If LTC holds the support area at $65 and the market bounces back up, we could see the price of LTC retesting the $90-$100 range, acting as resistance. This would be a bullish pattern for LTC, indicating that the price is likely to continue climbing in the future.
