These are the Top 5 Cryptos to Follow This Week. There are many altcoins that have experienced price increases of more than two figures.
With the possibility of a quick bull run, the recovery has created excitement. Here are the five top crypto assets that you need to be watching this week.
This article is not intended to be used as investment advice. Do your homework and don’t invest more than you can afford.
Bitcoin (BTC), price analysis as a Top 5 Crypto
According to the chart, BTC’s price continues to be bullish despite being retested at $25,000 and rejected in that area.
BTC trades at $24,170 as of the writing date. The price of BTC is in a rising wedge; a breakout above the wedge could see the price of BTC going to the region of $27,000 – $28,500.
BTC’s price could rise if the wedge is broken below its support zone of $21,400.
The Daily (1D), Chart: Price Analysis of Ethereum (ETH).
After showing bullish strength, Ethereum’s price has outperformed BTC over the last few days to $2,000.
ETH Price was rejected starting at $2,000 and there seems to be resistance to ETH price trending higher.
The price of ETH traded above the 50-exponential moving average (EMA), at $1,886 as of the writing.
If the ETH market price continues to be bullish, it could break $2,000 and reach $2,500. However, if ETH is rejected, $1,622 would correspond to 50 EMA. This would provide support for the ETH currency price.
Analyse of the Binance Coin Price (BNB) on The Daily (1D), Chart
BNB fell below its resistance at $327, and it is trading now at $316.
BNB maintained its bullish structure in spite of the rejection. BNB’s price could fall to $327, which would result in it retuning the area of $388.
In the event that the BNB price is rejected, $286 will serve as support. This price corresponds with 50 EMA.
An Analysis of the Price Of Sand Box (SAND), The Daily (1D), Chart
SAND continues to trade above the $1.3 support that corresponds to 50 EMA. If the region is broken, SAND could retest $1.18.
We could see SAND trending higher towards $2 if it breaks through the $1.4 resistance.
STEPN (GMT).Analyzing the Price of Top Cryptos
GMT formed a bullish wedge, as the prices ranged and showed bullish strength before a breakout. GMT’s price could rise to around $1.05 if there is a breakout.
Support is provided by the trendline of the daily GMT price chart.
Featured Image from Cryptimi. Charts by TradingView.com