Bitcoin (BTC), closing this week at a record high, is aiming to return to the $20,000.000 region. The uncertainty aside, many altcoins continue to be green, despite being in the bear market. Many exciting projects are coming out and some others have gained more attention due to partnerships and the community. We will be discussing the top five cryptos that you need to pay close attention this week.
These picks should not be considered investment advice. Do your homework and only invest what you are able to afford.
Check out the Daily Chart to See Top Five Cryptos-Bitcoin (BTC).
The chart shows that the BTC price was rejected at $21,500, after an earlier rejection of the region of $25,000 because the price had struggled to demonstrate such bullish power as it rallied from its weekly low of $18,500.
At the time of writing, BTC was trading at $19 400. The price of BTC has shown great strength as bulls defended the price from losing the key support zone at $18,500; if BTC’s price loses this key support, we could see the price going down lower and panic setting into the market.
BTC prices closed week with good candles above $19500. After a long period, this is an encouraging sign. We are approaching the month close, which could signal that there may be relief.
BTC must reclaim $20,000. This will allow for further relief rallies. If BTC’s price does not reclaim the region, then we may see more of an empty cat bounce.
The Daily (1D), Price Analysis Chart for Ethereum (ETH)
Life after “Ethereum Merge” hasn’t been what everyone expected as the price of ETH has lost a huge percentage of the rally price made, from a weekly low of $900 to a high of $2,030.
The ETH price fell to $1,650. This seems to indicate that there is resistance to ETH prices trending higher. It saw a decline to around $1,260 which provided strong support against the price going lower.
The market is looking positive ahead to the monthly close. We may see ETH price retesting $1.450 in the key resistance zone.
Analyse of the Binance Coin Price (BNB) on The Daily (1D ) Chart
BNB fell below its resistance level of $300, and currently trades at $270.
BNB tried to maintain its support zone. The price fell to $265 and then bounced back to $270. BNB’s price must rally from its support zone. If it breaks below $270 we may see BNB trading above $250.
Polygon price analysis (MATIC) on the Daily (1D) chart
MATIC’s price has maintained bullish trend and is well above 50 EMA. It broke out of a descending triangle, which the price aims for to break.
MATIC could break if it closes at $0.91; MATIC’s price may attempt to surpass $1 if MATIC prices fail. A retest for $0.77 support is possible, as this support has been a major support of MATIC price.
Top 5 Cryptos –Chart: Price Analysis For Aptos, (APT) At The Hour (1H).
APT formed a bullish trend with the release of its coin on several major platforms including Binance. This has meant that this coin continues to be a popular choice for traders.
APT’s price rose from $7 at its launch to $10.2 after it faced resistance during the first half. We could expect a price rise if the hype surrounding APT continues.
Featured Image from NBTC and Charts at TradingView.com