Top Five Cryptocugrrencies to Watch: BTC, ETH, SOL, XRP, WLD
WLD is up by over 21% in the last 24 hours after seeing a significant fundamentals boost from its parent firm. The coin and several other assets will look to continue the gains throughout the next five days.
Nonetheless, the global cryptocurrency market cap is back above $2.30 Trillion following its decline below it two weeks ago. It is also up by over 2% in the last 48 hours as several assets shot up and reclaimed several key levels.
One such is PEPE. It gained over 13% in the last 24 hours and surged above $0.000012. The hike also marked an over 30% increase over the previous seven days.
It is also worth noting that the German government has sold all of its BTC, and its scares are in the rearview. It improved traders’ psychology as the fear and greed index is at 57, a huge improvement from 37 last week.
With the bullish prospect, how will the market perform in the coming days?
Top Five Cryptocurrencies to Watch This Week
BTC/USD
Bitcoin is struggling to keep prices above $64k. A few hours ago, after peaking above $65k, it dropped as low as $62k. The asset rebounded and is trading at $64,418. Currently printing a bearish candle, it marks the first of its kind in the last four days.
The apex coin climbed above its pivot point but failed to gain stability. The fears of what Mt.Gox could do to pay out its creditors hangs in the air. It was responsible for the sharp decline. Nonetheless, the buyers quickly soaked up the excess supply.
Indicators flipped bullish and show no signs of an impending change in sentiment. One such is the moving average convergence divergence. It showed that the cryptocurrency had a bullish divergence on Saturday and has since been on the rise. The 12-day EMA is approaching as trading conditions improve.
With the ongoing struggle to keep to prices above the pivot point, the bulls will look t consolidate their gains. BTC may range for a short period before a breakout. A slip from the current price may result in a decline to as low as $62k.
Nonetheless, the apex coin may gain stability above $66k if trading conditions continue to improve.
ETH/USD
The long-awaited ETH ETF will hit the market next week. As traders anticipate the launch, the asset is trending on CT and other crypto-related platforms. Additionally, it has been climbing since Friday as the odds of Donald Trump becoming the US president increase.
The previous day was the largest as the registered massive gains. It started trading at $3,246 and attempted the $3,500 resistance but retraced a few dollars away from it. Nonetheless, the asset closed with gains exceeding 7%.
Seeing a bullish divergence, the cryptocurrency may be gearing up for another major claim. It is worth noting that it is changing below its pivot point due to the selling congestion around the mark. The Fibonacci retracement levels point to an equal opposing pressure from the bulls as ETH is exchanging above the 23% Fib level.
With notable demand concentration around this price level, ether may start trading in a horizontal channel before its final stretch above $3,500. The impending ETF launch may see it attempt $4k. Nonetheless, it may gain stability above $3,500. The bears may also exert pressure on the 23% Fib level. A crack may result in a slip to $3,200.
SOL/USD
Solana made a big comeback to critical level a few hours ago. It surged to a high of $162 after over a month of absence. However, the coin return to $160 sparked speculations of further bullish actions.
The predictions are also backed by the asset’s consistent rise in the last five days. A notable event was its climb above its pivot point two days ago. It started trading at $141 but surged to $148, briefly flipping the highlighted mark.
The decisive flip happened during the previous intraday session as it peaked at $160. The 12-day EMA is on the rise in reaction to the most recent surges the asset is seeing. Indicative of further hikes, solana is struggling to flip a short term resistance. Based on previous price movement, $163 was a barrier to small hikes but breaks after a few trials.
A decisive flip of $160 will guarantee a cimb above the the 23% Fib level, providing the bulls with another level to defend. The flip may take place within the next five days.
The post Top Five Cryptocugrrencies to Watch: BTC, ETH, SOL, XRP, WLD first appeared on Cointab.
