Crypto market prices moved away from support on all levels, but the crypto marketcap found some relief recently and is now aiming to overcome its resistance of $1.2 billion. Market sentiments have returned to bullish as many cryptocurrency assets rallied from key support, generating double-digit gains. This week, let’s focus on 5 top crypto assets you need to be aware of.
These picks should not be considered investment advice. Do your homework and don’t invest more than you can afford.
TOP 5 Cryptocurrencies – Bitcoin (BTC), Price Analysis
Source: BTCUSDT On Tradingview.com| Source: BTCUSDT On Tradingview.comThe chart shows that the BTC price was rejected at $20,400. Bulls tried to push it higher, serving as resistance.
At the time of writing, BTC was trading at $19 200. BTC’s price could not move out of its ascending triangle as it continued to fluctuate in that triangle, with hopes of moving to the upside. BTC prices at $18,800 continue to provide support. Any break below the price will result in BTC losing its lower support level of $17 700-$17,000.
If the ascending triangle is broken, the price may rally to as high as $21,500-$22,000.
The Daily (1D), Chart: Price Analysis of Ethereum (ETH).
Despite the price of Ethereum in recent weeks outperforming BTC after showing a bullish trend ahead of “The Merge,” the price has faced resistance to breaking above $1,400, with the next key support at $1,000 looking more likely for price.
The ETH Price was rejected at $1,370. This seems to indicate that there is resistance to ETH’s trend higher. This led to the price falling to $1,250. The price rebounded to $1,320.
The price for ETH as of the writing time is $1.325. This trading lower than the 50-200 Exponential moving average (EMA), on a daily basis.
We could see the price retesting between $1,200 and $1,000 if the ETH price keeps its bearish structure. This would be a major support area with high demand.
Prices Analysis of Binance Coin (BNB), On The Daily (1D), Chart
BNB fell below its resistance at $290, and it is trading now at $280.
BNB’s bullish structure has been broken. A break of around $270 could lead to BNB taking the $240 support area.
TOP 5 Cryptocurrencies – Market Analysis for Maker DAO(MKR), on The Daily (1D), Chart
Bullish trend continues to be evident in MKR’s price, which is well above the 8 EMA and 20 EMA. After a breakout of the descending Triangle creating a bullish scenario, it has been holding steady.
MKR could retest $1,200 if the market looks more stable. MKR could be sold if the market is unstable. A retest price of $800 would serve as support.
Polygon price analysis (MATIC) on the Daily (1D) chart
MATIC’s price has been in a bullish triangle (ascending triangular) and could break to the upside. A breakout above the ascending triangle will mean that the price would rally to $1.
Featured image taken from zimex. Charts from TradingView.com