Category: Analysis

The crypto market scene is changing as cryptocurrencies to watch this week showed a lot of potential last week. They saw notable increases during the previous intraweek session. They all contributed to the positive change in the value of the global cryptocurrency market cap.

The sector opened trading at $871 and  peaked at $972 as market conditions improved. However, it closed at $951 which signifies a more than 10% increase. The industry has resumed its uptrend as it gained almost 5% yesterday.

It also peaked above $1 trillion. Unfortunately, it lost the level due to corrections but is back above it as the intraday session is coming to an end. Nonetheless, we may see more price increases and stability above $1T.

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

The apex coin experienced notable changes during the previous intraweek session. However, it started slow as the first two days of the week were bearish. As a result, it dipped to it low of the week.

It picked momentum and went on an uptrend. It lasted for four days as BTC claimed the $20k support. Unfortunately, the bulllish effort failed to reflect on the weekly chart as we observed a doji.

We may be assured of a different outcome this week as the Bitcoin kicked off strong. It flipped its fourteen days high as it peaked above $22k yesterday. It is above $23k as at the time of writing.

Additionally, indicators are also blaring a bulls alert. One such is the pivot point standard. BTC is currently exchanging above its pivot point. We may see the asset edge closer to retesting its first pivot resistance.

2. Ethereum (ETH)

The largest altcoin also had an epic session during the previous seven-day period. It started with a downtrend that saw it lose more than 6% on the first day of the week. The price decrease continued into the next intraday session.

It almost tested the $1k support but rebounded at $1,032. After the rebound, it went on a bullish spree. It closed with notable gains. The sentiment extended into the current intraweek session as we observed massive price changes. One key level to watchout for is the $1,800 resistance, we may see the level flip in the coming days.

3. Ripple (XRP)

Monero was very volatile last week. A closer look at the weekly chart shows that asset dipped to a low of $115 but surged to a high of $144. This is the first time in more than 30 days the token is attaining this feat.

Fortunately, it closed with a more than 5% increase. It also gained composure above its pivot point but failed to finish the period under consideration above it. Other indicators like RSI and MACD were also bullish.

The sentiment has extended into the current week as we observed that the coin is on two-day uptrend. As a result of the surge, XMR peaked at $149and aiming for $150. We may see the said resistance flip this week.

4. Decentraland (MANA)

Last week, Decentraland was the most held coin in the ethereum ecosystem. Due to this, it saw small trading volume and recorded little volatility. It is the first coin on this list that ended that previous intraweek session with losse.

This situation ended during the previous intraday as MANA peaked at $0.93 and closed with a more than 9% increase. The uptrend extended to the current session as it peaked at $1 for time in more than fourteen days

Most cryptocurrencies are still battling the effects of the bearish shake the market last month. They have been unable to recover and are down by a few percent as of the time of writing. Nonetheless, a lot in terms of price movement happened during the past 30 days.

One such is the decline in the value of the global cryptocurrency market cap. It started the period under consideration at $1.2 trillion and peaked at $1.27T as some projects experienced little uptrends.

The sector’s valuation dipped below $1T on the 13th day of June. This was the first time receded to that level in more than a year. Following the retracement, the industry continued its downtrend until it rebounded at $792 billion.

It is currently worth $867 billion which signifies a more 20% loss. The image below sheds more light on the state of some prominent projects after the dips.

 

Source: Coin360

From the above image, we observed that most cryptocurrencies have lost a notable piece of their value. One such is Avalanche as it lost more than 35%. Other projects have also lost the same amount and it is hard to pinpoint the top loser.

Nonetheless, one of the top gainers over the last 30 days is LEO. The token gained more than 9% during the period under consideration. Looking ahead into the new months, will market conditions get better or will it get worse? Here are the top five cryptocurrencies to watch this July.

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

It’s not hard to conclude that the largest cryptocurrency by market cap had one of its toughest runs last month. The image above shows the dwindling dominance and the effect of the consistent drop it experienced.

The first five days of July were a little bullish as BTC recorded gains during this period. The downtrend started during the second week as it peaked at $31,731 but was met by retracement. It was sent crashing down and flipping critical supports on its way.

One such is the $30k and then $28k support. They stood no chance as the selling pressure outweighed the buying push by a large margin. That seven-day period ended with the apex coin losing 11% and closing at $26,500.

The next intraweek session had more severe conditions for the bulls. As it began, it faced an immediate correction that lasted throughout the seven days. More positive barriers buckled under intense congestion.

One such is the $22k and later the $20k support. Following the flip of the said barriers, more selloffs hit the market and BTC was sent below $20k. It rebounded at $17,592 and closed the week above $20,000.

The last seven-day period saw the top coin gain a few percent but could not be as significant. On the part of indicators, they have all turned bearish. During the second week, bitcoin lost its first pivot support on the weekly chart.

We also the Moving Average Convergence Divergence dips more below 0 which corrolates with the Relative Strength Index. As at the time of writing, the apex coin is oversold. What does this month hold for it?

There May be More Downtrends

Last week, bitcoin started a downtrend and is yet to recover. As a result of the downtrend, MACD is blaring warnings. Aside from that indicator, RSI is trending a little above 30 which puts BTC in a very dangerous position.

An increase selling pressure could send the below 30, becoming oversold. This may also trigger a bearish divergence on MACD. This means that the apex coin may be in for another bearish round.

One of the levels to watch is the $17k support. There are several indications that bitcoin may record a deeper low during the continuation of the winter season.

2. Ethereum (ETH)

Ethereum also suffered increased selling pressure last month compared to the previous 30-day period. Like most cryptocurrencies, it started the period under consideration with notable losses. One such was on the first five days when it retraced below $1,800.

Although the session was marked by a doji, it marked a bad beginning for ether. The next intraweek session came with increased selling congestion. The coin showed a lot of potention at the start as it peaked at $1,918.

Nonetheless, it lost momentum as the week progressed. This led to a close at $1,433, signifying a more than 20% decrease. The next seven-day period was more severe than the previous as ether saw almost ni uptrend at all.

It dipped to a low of $879 for the first time in more than a year. It recovered and closed at $1,126 but could not erase all of its losses as it recorded a 21% deficit. Ethereum also saw some good times during the previous month.

For the first time since the start of the second quarter, the largest alt saw an increase of more than 6%. However, the accumulated gains were lost during the next intraweek session as it retraced below $1,000 and lost 10%.

A closer look at the asset under consideration, we observed that is currently oversold in the weekly chart. This means that it is seeing an unprecedented amount of selling pressure since its introduction to the market.

MACD tells no different story from the Relation Strength Index. Both the 16-day EMA and 26-day EMA are still on a downtrend are below -400. Additionally, ether slopped below its first pivot point.

How Will the new Month Playout?

It remains to be seen as all indicators are still bearish. Nonetheless, there are other indications of possible price actions. One such is found on the daily chart. Based on this, we observed that ether is close to experiencing a bearish divergence.

This  means that the largest altcoin by market cap is bound to experience another bearish round. It is hard to know the dept of the coming downtrend. Nonetheless, one key level to watch out for is the $900 support. Both the $800 and $700 supports are open to a retest and a possible flipping.

3. Binance Coin (BNB)

Binance coin is another asset that is on many investors’ watchlists. Like most cryptocurrencies, the month started a bit slow. One indication of this is the candle that represented the first five days.

The candle was a red one which indicates that it lost a few percent. However, as the 30-day period progressed the selling congestion increased. During the second week, BNB peaked at $312 but was met by retracement.

This led to a downtrend that saw the altcoin close at $254, signifying a more than 14% decrease. The downtrend intensified during the next seven-day period. One of the main highlights of that period was when the $200 support came crashing.

As a result of the flip, BNB dipped to a low of $183 which was the lowest in almost one year. At the end, it recovered from the retracement but lost more than 15%. The same price increase continued into the next week.

It saw very little correction as it dropped as low as $204. Afterwards, it surged to a high of $245 and closed at $233, signifying an almost 9% increase. Last week, Binance coin lost more than half its accumulated gains.

On the part of the indicators, BNB is yet to retest its first pivot support but is edging to closer to it. Additionally, RSI is at 32, which is one of the lowest in a long while. MACD is also going down as it continues below 0.

What Should Be Expected This Month?

One of the good news that many would expect is that the Moving Average Divergence Convergence has regained its upward trajectory. On the daily chart, this is the scenario. Nonetheless, there are still fears of the exchange token having a bearish divergence.

If this happens, we may expect a retest of the $200 support. It remains to be seen how long such a selling pressure period will last. However,  the coin will rebound and start an uptrend afterwards.

4. Solana (SOL)

A closer look at Solana weekly chart shows that it is one of the few coins that enjoyed more price increases. Nonetheless, the first five days of the month were slow as the asset lost more than 10%.

It dipped as low as $35 but recovered and closed at $38. During the next week, SOL peaked at $44 but was met with rejection. After that it dropped to a low of $30 but could not recover which resulted in a more 20% deficit.

During the next intraweek session, solana started an uptrend. Although, the asset lost the $30 support again and hit a low of $25. After a rebound, it surged to a high of $36 but closed at $34 which depicts a more than 11% incease.

The uptrend continues throughout the next week. Nonetheless, the bears recorded a notable victory as the altcoin dipped to a low of $31. It hit support at the level then peaked at $42 but close at $39.

However, SOL bullish run ended two weeks ago as it lost more than 15%. As a result of the two-week uptrend, the asset was not oversold like most cryptocurrencies. The current month has started a lot different from the previous.

If the uptrend continues, the 12-day EMA may intercept the 26-day soon. If this happens, we may expect more price increase in the coming weeks.

Conclusion

This article highlighted five cryptocurrencies to watch this month. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

Most cryptocurrencies have resumed their consistent downtrend but are showing signs of a reverse. Nonetheless, opening the past week at $1.29 trillion, it failed to surge and recorded no further increases as it was hit by immediate downtrend.

The sector under consideration closed at $1.22T which indicates a more than 7% decrease. The previous intraweek session saw the industry’s value dip below $1.2 trillion and a hit a low of $1.17T.

The low was as a result of the state of most projects as they lost a significant fraction of their value. The image below further explains the situation of the market at the end of the period under consideration.

Source: Coin360

One of the few good news from the chart above is the growing dominance that Bitcoin is experiencing. Aside from that, there is little to talk about on the positive aspect. Nonetheless, BTG stands as the top gainer as it gained more than 18%.

There are also a few cryptocurrencies that saw notable increase over the last seven days. However, the top loser over the period under consideration is Waves as it lost more than 25%. Strong bearish fundamentals also caused the prices of Stepn to retrace with similar intensity.

The mobile app was made unavailable to Chinese users which resulted in fears among investors. The Fear and Greed Index did not see any improvement as we observed it does not leave the extreme fear region.

Market conditions have improved as at the time of writing. One of the glaring evidence attesting to the positive change is the global cryptocurrency market cap. We observed that the sector’s valuation has exceeded $1.3 trillion due to the improvement of most digital assets.

As a result of the bullish sentiment spread across the industry, WAVES has made a comeback and is currently up by more than 69% – making it the top gainer. AXS trial behind with a more than 25% increase.

The new week is looking promising. Here are the top five cryptocurrencies to watch this week

Top Four Cryptocurrencies to Watch

1. Bitcoin (BTC)

The largest cryptocurrency by market cap experienced a lot of volatility last week. It opened the previous seven-day session on a bearish note as the first intraday session was marked by an almost 4% decrease.

The next day saw BTC see more upward push as it peaked at $29,802 but failed to record any significant gains. Wednesday was different as a doji marked that trading cycle. However, the top coin peaked at $30,192.

The next two day were marked by little retracement and Bitcoin failed to record any significant boost. The weekend came with more bullish sentiment as we observed the green marking of the chart.

The largest cryptocurrency gained more than 3% during this session. On the part of the indicators, the Relative Strength Index ended the week at 39 but retraced to a low of 36 on Friday.

The Moving Average Convergence Divergence is also seeing more improvement as we observe its upward trajectory that was maintained throughout the past intraweek session. We may expect the uptrend to continue as the asset may leave the bearish region.

If the current state of the market is sustained, we may expect the apex coin to retest the $32k resistance within the next six days. On the other hand, the bulls must defend the $30k support as failure to do so may result in more struggles at $29.

2. Ethereum (ETH)

Like most cryptocurrencies, Ethereum had a bearish start to the previous seven-day period. The largest alt on the first day, lost the $2,000 support as it retraced to a low of $1,954. It closed at $1,971 after an open at $2,040 – a more than 3% loss.

The downtrend extended to the next day as ether retested the $1,900 support but rebounded. It returned to its opening price but failed to surge further. The bearish grip on the market resumed on Wednesday but the losses were insignificant.

Thursday came with the largest correction of the week as we observed that the asset under consideration dipped to a low $1,734. It recovered but could not erase the incurred losses, leading to a close with almost 8% deficit.

The next day saw a spillover of the previous sentiment and ETH lost 3.68%. The weekend came with relief as the largest altcoin recorded gains of more than 5%. Price action on the fourth day of the week negatively impacted the the trajectory of RSI.

We noticed that the dip caused the asset to be briefly oversold as it plunged below 30. It regained composure and ended the intraweek session at 34. The Moving Average Convergence Divergence was also impacted.

The 12 -day EMA saw a slight change in direction due to the bearish dominance. This raised fears of a bullish divergence and more selloffs. But that never happened as the bulls rallied the market.

Yesterday, a massive upward push was seen as the asset under consideration surged by 10%. Ether seems to be going through a cool down as it is currently down by 2.85%. If the downtrend continues, we may expect a retest of the $1,800 support. A rally could send ETH as high as $2,100.

3. Cardano (ADA)

Like the preceding cryptocurrencies, Cardano struggled with bearish dominance during the first intraday session of the previous week. The coin retraced from $0.54 to a low of $0.50 but saw a small recovery that saw it close at $0.51, losing more than 5%.

The first half of the next 24-hours trading cycle saw the bears seize total control of the market. The asset lost the $0.50 support as it dipped to a low of $0.49. The second half saw the bulls erase the incurred losses and rallied the market to a close above its opening price.

Wednesday saw the ADA record low trading volumes, which resulted in low volatility. It failed to end the session with any significant price changes. The bearish dominance intensified on Thursday as the asset under consideration saw its biggest correction.

The coin retraced from $0.52 to a low of $0.46. Seeing a slight recovery, the session ended at $0.47 – an almost 7% decrease. The grip grip on the market softened the next day as cardano lost the $0.45 support.

The mark was regained, but the asset lost more than 4%. The last two days of the week were marked by green candles indicating the cryptocurrency saw more bullish sentiments. It gained more than 5% during that period.

The asset was almost oversold as its RSI dipped as low as 32. it ended the intraweek session at 36. MACD, on the other hand, also gave a scare of an impending selloff as we observed a bearish convergence.

The cross was averted as and the 12-day EMA continued its uptrend. Both of the highlighted indicators reached their peaks during the previous intraday session as it gained more than 18%. If the uptrend is sustained, we may expect an attempt at the $0.80 resistance before the end of the week.

4. Near Protocol (NEAR)

Of all the highlighted cryptocurrencies, Near protocol has been the most impacted by the bearish dominance last week. The coin hit a peak at $6.52 on Monday but was soon met by correction as it dipped to a low of $5.73.

It closed at $5.83 which indicates a more than 6% decrease. The downtrend continued the next day as the asset retraced to a low of $5.51 but ended the session at a little above its opening price, gaining 2.25%.

However, the bears seized complete control of the market over the next three days. Wednesday saw the coin lose more than 3%. Thursday saw NEAR retraced from a high of $5.82 to $5. A slight recovery saw the cryptocurrency close at $5.2, dipping by more than 9%.

The next day was continuation of the retracement as the $5 support broke as a result of the massive sellers’ congestion the asset experienced. The session ended at $4.8 indicating a 8.22% deficit.

The bulls regained control of the market over the weekend. On Saturday, NEAR surged by 4% and almost the same amount of positive change was seen on the last day of the week. Going over the price action of the last seven days, it is no surprise the asset under consideration was oversold.

The two-day surge that was recorded over the weekend enabled the coin to leave the oversold region. Interestingly, there was no massive impact to MACD’s 12-day EMA. The metric continued its uptrend.

Like the preceding asset, all of the highlighted indicators hit their their highest in more than 14 days. We can conclude that NEAR has continued its uptrend as it ended the previous intraday session with a more than 11% increase.

It is also edging up a retest of its first pivot support. If the current upward trajectory is maintained, we may expect an attempt at the $8 resistance. Failure to sustain it may result in flip of the $5.5 support

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

Most cryptocurrencies lost a few percent over the last seven days. The global cryptocurrency market cap is down by more than 5% over the last seven days. It started the past week at $1.33 trillion and closed at $1.28T. The valuation is a stark reminder that the industry is yet to recover from its bearish grip.

Nonetheless, there were notable improvements in the price of some cryptocurrencies. For example, KNC gained more than 63% during the period under consideration while GRT lost almost 19%.

The image above further explains that the top gainer from last week is not the only coin that has seen a significant increase. BNB, ADA, TRX and some other altcoins also make up the lists.

However, there has been no notable change in market sentiment as the fear and greed index remains below 15 – an extreme fear. There were also no big stories that could change the trajectory of the market.

The new week is proving to be following the same path as there is nothing to talk about on the part of fundamentals. The previously highlighted metric also dipped as low as 10 after concluding the previous intraweek session at 14.

Currently at 12, most coins are yet to feel the impact as almost every cryptocurrency is down by a few percent. The image below further expresses the state of the crypto market.

Source: Coin360

With a brief overview of the industry, will this current seven-day period be different? Here are the top five cryptocurrencies to watch

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

The previous intraweek session marked the eighth consecutive week of losses. On Monday, the coin was hit by the first wave of downtrends as it retraced from $31,275 to a close at $29,832, losing more than 4% of it value per unit.

The next day brought a little consolation as the apex coin saw some increase as it made an attempt at reclaiming $30k and was successful. However, it closed with a small profit and failed to record any significant increase.

Wednesday brought the biggest correction of the week as Bitcoin dipped from $30,670 and closed at $28,681. The two prices indicate a more than 5% decrease. The incurred losses were recovered the next day as the asset reclaimed the lost levels.

More retracement was seen on Friday as BTC lost 3.58%. Similar volatility during the week could not be sustained over the weekend as the apex coin saw little price movement. However, it gained 3.65%.

The seven-day period ended with bitcoin seeing little improvement with regards to indicators. The Moving Average Convergence Divergence (MACD) indicated that the top asset had a bullish divergence. Additionally, RSI was at 40.

Unfortunately, these metrics have changed as the Relative Strength Index is at 38 – an indication of a gradual decrease in buying pressure. The first level to watch is the second pivot point ($31,000). A flip of this level may ensure a close above $32k.

However, if the selling continues, BTC may retrace as low as $27,000. Bearing in mind the most recent price performance, a 3% – 5% decrease or increase may be seen.

2. Tron (TRX)

TRX is one of the few coins that recorded a notable increase. Opening the previous week at $0.072, the asset under consideration retraced to a low of $0.066 and closed at $0.066 – losing 4.25%.

Tuesday came with relief as TRX recovered the lost value. it saw a little retracement that saw it lose dipped as low as $0.068 but closed at $0.72, recording gains of more than 4%. The bears seized control of the market the next as it was represented by a red candle.

Seeing almost the same volatility as the previous session, the battle for dominance was fierce, but the selling congestion resulted in a 2.16% loss. Thursday came with a change in scenery as the bulls pushed tron to a high of $0.075 and closed at $0.073, a more than 3% increase.

Following the one day bullish, one day bearish trend, TRX lost almost 3% during the next intraday session. However, it recorded consistent gains over the weekend, seeing a 9% positive price change.

The increase saw RSI hit 55 and MACD, a bullish divergence. Following these indicators, we conclude that the asset under consideration may experience more uptrends over the next six days.

3. Tezos (XTZ)

A bearish start to the week saw Tezos lose more than 6% as it opened trading at $1.92 and closed at $1.78. Gaining more than half the lost value the next day, further recovery was expected as the coin closed with a 4.49% increase.

However, this proved wrong as the altcoin saw its biggest dip on Wednesday. It retraced from $1.86 to a low of $1.66. It ended the period under consideration at $1.68, losing more than 9%.

A repeat of Tuesday’s price action played out again as the asset saw more demand concentration and a tight squeeze to $1.76 – a 4.76% gain. The next day was not volatile as the rest and XTZ failed to record any significant positive price change.

Saturday and Sunday saw the tezos enjoy more uptrends. it gained more than 13% collectively. The Relative Strength Index (RSI) peaked at 43 during this period. Additionally, the coin flipped its first pivot support.

The Pivot level is now used as support for further price increases. If the current momentum is maintained we may expect a retest of $2.2 resistance and a possible flip as the Moving Average Convergence hints at more price increase.

4. Kyber Network Crystal (KNC)

The Kyber Network Crystal saw a massive uptrend last week. It kicked off the seven-day period with an almost 8% decrease and was heading for further losses but found support at $1.52.

The next day marked a notable shift in dominance as the bulls rallied the coin. Opening at $1.65, the token surged to high $2.26 and closed at $2.18, gaining more than 30%. Wednesday came with a meager increase and more than the previous day’s volatility.

A bearish start to the intraday session started with the asset under consideration, losing almost 10%. However, it found support and rebounded at $2. A massive uptrend was seen that saw KNC hit a $2.75 and a close at $2.68 – a more than 20% increase.

The next three days were marked by Dojis which indicated little volatility. Nonetheless, the crystal peaked at 47 on the RSI scale and saw a bullish divergence on MACD. Taking into consideration previous price action, we may expect more changes in price.

The bulls will stage a comeback after a 15% decrease on the first of the current week. If the same momentum is sustained, a retest of the $3 resistance may take place.

5. Stacks (STX)

Stacks is one of the top performing cryptocurrencies from the past week. A 9.68% dip on Monday was one of the biggest of the intraday session but the bulls showed more resilience the next day was marked by a considerable change in price.

STX had it largest correction of the week on Wednesday as the coin retraced from $0.57 to $0.52, losing more than 12% of it value per unit. The next downtrend was on Friday as the asset lost almost 6%.

The weekend was bullish for stacks as it gained more than 11%. RSI peaked at 35 and further uptrends were assured due to a bullish divergence in MACD. The Relative Strength Index at this time is stable at 39.

A closer look at the Moving Average Convergence Divergence (MACD) reveals that the asset may continue to enjoy more price increases.

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

Most cryptocurrencies are yet to recover from the previous intraweek session. It was one that many would love to forget. One of the reasons for such a conclusion is the major correction the entire crypto industry suffered. Almost every cryptocurrency lost notable worth during this period.

The dip cannot be overemphasized as the crypto market value dips to its lowest in almost 10 months. In July 20, 2021, the crypto market was worth $1.2 trillion and since then, the sector has peaked at $3T.

For the first time in such a long while, the global cryptocurrency market cap is down by 20% in less than six days. Affirming this, the market opened the week at $1.57 trillion and then retraced below $1.3 trillion – losing almost 20%.

The chart beneath further expresses the state of the sector under consideration throughout last week. One of the good news from the depiction is that Bitcoin is regaining its market dominance as it increased from 40% to 43%.

Nonetheless, UST is down by more than 80% over the last seven days, which is unlikely for a stablecoin. The runner up is Fantom as it loses 54%. The top gainer is MKR as it has gained 12% during this period. Many may wonder why there are massive selloffs across the market.

80,000 Bitcoin Were Sold

The Luna Foundation guards in a bid to save the declining UST, sold all of its bitcoin reserves. 80,000 units were sold off and the effect of the trade resonated throughout the market. Unfortunately, the quest to halt the retracing stablecoin failed.

The consequences of this failure affected the governing coin of the blockchain, LUNA. As a result, it dipped for almost $100 to exchange at a few cents. Billions of dollars in market cap was lost and investors REKT.

The crypto market is gradually taking shape. The chart below affirms that the recovery is a gradual process and may take more time. Cryptocurrencies like KSM and KAVA are already seeing significant increases.

Source: Coin360

With a brief overview of the sector, here are the top four cryptocurrencies to watch this week

Top Four Cryptocurrencies to Watch This Week

1. Bitcoin (BTC)

Bitcoin lost more than 10% of its value last week. It was something that many never expected but it happened and the incurred losses are yet to be recovered. Monday began the spell of the downtrend.

Following a four-day dip, the bulls were expecting a surge as the new intraweek session began. However, after a small increase to $34,224 ($200 higher than its opening price), it met rejection and the coin retraced to $30,000, losing more than 11%.

Tuesday brought relief but not was significant as the buyers failed to sustain a surge to $32,650, leading to corrections. Nonetheless, the asset closed with a 3% increase. The next day, bitcoin lost twice its accumulated gains.

It dipped to $27,757 but ended the day losing more than 6%. BTC dipped to it lowest for the week Thursday as it retraced to a low of $25,401 (the lowest in almost a year). The concluding three sessions were marked by small increases.

The seven-day period closed with significant improvements in indicators. For example,  the Relative Strength Index (RSI) has improved significantly as the once oversold asset is seeing moderate buying pressure. It shows as the said metric ended the period at 35,

This may spell goodwill for bitcoin, as the RSI rules state that an oversold cryptocurrency is bound for a rebound. We may be correlating surge to the stated rule. Additionally, the Moving Average Convergence Divergence (MACD) is also experiencing a bullish convergence.

It is also important to bear in mind the previous weekly trends of corrections on Wednesday and Thursday. This may deter further efforts above $31,000.

2. Zcash (ZEC)

Like most cryptocurrencies, Zcash experience increased bearish dominance on Monday. The selling pressure saw the 41st coin by market cap lose more than 18% as it retraced from $114 to $92.

The next day saw the bulls attempt a recovery but failed due to reduced demand concentration above $100. Opening at $92, the asset peaked at $104 but faced rejection and was sent down to its initial price.

Wednesday saw the continuation of the bullish struggle as the altcoin hit a high of $96 but lost momentum, leading the bears to capitalize. It retraced to a low $75 but recovered and closed at $83, losing 10%.

ZEC revisited a level not seen in months on Thursday but rebounded at $68 and received a significant boost to end the session with an almost 4% increase. The next three days were bullish as the asset gained almost 30%, erasing the incurred losses.

Due to a massive retracement on Wednesday, zcash became oversold but recovered as the week progressed. RSI is making progress towards 50 which may mean further uptrend for the token. MACD also indicates that the asset had a bullish divergence and is showing no signs of further decrease.

3. Maker (MKR)

Maker is one of the few tokens in the top 100 to see more upward trajectory throughout the previous week. While most cryptocurrencies saw at least three days of constant retracements, MKR experienced only two with reduced effects.

The asset under consideration experienced a more than 11% drop on Monday as it dipped from $1,1194 to $1,052. Tuesday brought comfort as the incurred losses were recovered. The token opened at $1,050 and peaked at $1,257.

It ended the session at $1,222 which indicates a more than 16% increase. MKR saw it biggest push the next day as it hit a high of $2,284 but lost the level and was sent as low as $1,074. Little improvement was seen and close at $1,130 was seen, suggesting a 7% decrease.

The next four days were marked by immense uptrends. For example, on Thursday, maker saw a 18% increase after a dip below $1,000. Subsequent sessions saw a 15% surge.

Due to a massive retracement on Monday, MKR was oversold but recovered as the week progressed. RSI has gained stability above 50 which may mean further uptrends for the token. MACD also indicated that the asset had a bullish divergence and is showing no signs of further decrease.

4. Kava (KAVA)

Like most cryptocurrencies, KAVA experienced increased bearish dominance on Monday. The selling pressure saw it lose more than 22% as it retraced from $3.4 to $2.6.

The next day saw the bulls attempt a recovery but failed due to reduced demand concentration above $3. Opening at $2.6, the asset peaked at $3 but faced rejection and was sent down to its initial price.

Wednesday saw the continuation of the bullish struggle as the altcoin hit a high of $2.7 but lost momentum, leading the bears to capitalize. It retraced to a low $1.7 but recovered and closed at $1.9, losing 30%.

The asset under consideration revisited a level not seen in months on Thursday but rebounded at $1.3 and but could not recover as it ended the session with a 14% decrease. The next three days were bullish as the asset gained almost 52%, erasing more than half the incurred losses.

Due to a massive retracement on Wednesday, Kava was oversold but recovered as the week progressed. RSI is making progress towards 50 which may mean further uptrends for the token.

The Moving Average Convergence Divergence (MACD) bears more good news as it indicates an ongoing bullish convergence. A divergence may result in the asset under consideration experiencing more price increases.

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

 

Most cryptocurrencies experienced rigorous selloffs over the last seven days. The global cryptocurrency market cap has dipped to levels not seen in months. The sector valuation retraced as low as $1.45 trillion.

This is the first time since the fifth month of 2021 that we are seeing the industry worth lower than $1.5 trillion. The decrease in the value of the industry was due to the consistent drop in the prices of most cryptocurrencies.

The effect of the dip cannot be overemphasized as most traders were REKT as a result of the constant correction. The image below further expresses what transpired last week.

Source: Coin360

As the bearish grip pummels the industry, bitcoin’s market dominance is gradually decreasing. Additionally, we observed that almost every cryptocurrency in the sector is down by notable margins over the last seven days.

During the period under consideration, the top losers include GMT and APE as they both lost more than 30%. The top gainer was Tron, as it gained more than 15%. 1inch closes in with a 12% increase.

Unfortunately, market conditions have gotten worse. As with the global cryptocurrency market cap, most projects have noticed significant decreases in price. For example, LUNA lost more than 50% during the previous intraday session.

The reason for the drop is not far-fetched has we observed that the project was experiencing devaluation on it stablecoin. In a bid to cushion the effect, Luna Foundation Guard sold off $2.2 billion worth of bitcoin.

With the recent state of the market, many are hopeful that the drop in the worth of most cryptocurrencies will spark the return of the bulls. Will that start this week? Here are the top five cryptocurrencies to watch this week

Top Cryptocurrencies to Watch This Week

1.  Bitcoin (BTC)

A closer look at Bitcoin on the weekly chart reveals that the top coin has failed to close a seven-day period in profit. This has been going on for more than five weeks and is ongoing. The current intraweek session is also on this path.

Last week was one that many would love to forget as it has been the hardest since the downtrend started. It kicked off weak as we observed very little trading volume on the first day. Seeing a high of $39,153 and a low of $38,045, we may conclude that there was very little movement in terms of price.

Additionally, the day ended with no gains or losses. Tuesday was almost a repeat of the the previous session as there was almost an equal amount of trading volume. However, the bears seized control of the market and made the top coin lose a few percent.

Wednesday was different as the bulls took control of the market. BTC tested the $40k resistance for the first time in almost six days. Opening at $37,735, peaking at $40k and closing at $39,695, the coin gained more than 5%.

Retracement returned to the market the next day Thursday as bitcoin lost all of its accumulated gains. The asset retraced from $39k to $36,533, losing almost 8% in the process. The next two days were met by minimal trading activity.

On the part of the indicators, there were no notable improvements as the bearish dominance tightened. The Relative Strength Index (RSI) was at 31, which indicated that further downtrends could result in the coin being oversold.

Becoming oversold yesterday. This may spell goodwill for the coin, as the RSI rules suggest that BTC will see more price increases. Bitcoin will look to retest the $34,000 resistance within the six days. However, if the bearish dominance continues, a flip of the $30k support may take place.

2. Ethereum (ETH)

Seeing the same sentiment as BTC, Ethereum kicked off the week slow as it saw little trading volume on the first day. Being represented by a doji, it saw a high of $2,883 and retraced to a low of $2,776.

The same amount of trading activity was seen on Tuesday as the largest alt saw a high of $2,861 and dipped to a low $2,753. Additionally, we observed that the bears edged in the struggle for dominance as the coin closed the session with an almost 3% loss.

The next day was a change of scenery as the bulls took over the market. The second largest cryptocurrency by market cap opened at $2,780 and peaked at $2,969. It closed at $2,939 and gained more than 5%.

Like most cryptocurrencies, the fourth intraday session was marked by retracements. Losing 6.55% on Thursday, ETH lost all hopes of retesting $3k as it closed at $2,747. The next two days saw minimal trading volume, but saw the coin lose more than 4%.

The week closed on a bearish note as ether 4.39% on Sunday. The largest alt edged closer to being oversold as RSI was at 34. It almost tested it first pivot support but stopped as it rebounded.

Unfortunately, like most cryptocurrencies, ETH saw a massive selloff and became oversold during the previous intraday session. This is evident in RSI reading as it dipped below 30. The coin is recovering as at the time of writing.

Unfortunately, there has been no improvement in indicators. As a result, we’ll turn to the previous price movement. As per the the Relative Strength Index, we may conclude that ether will see more uptrend and retest $2,500. However, a correction could ensure a retest of the $2,200 support.

3. Solana (SOL)

On the weekly chart, Solana is on the downtrend. Losing the $100 support last two weeks, there has been no sustainable attempt at the mark. The decrease in price seems to continually decrease during this period.

Like most cryptocurrencies, the week started slow for SOL as it saw minimal trading volume. It peaked at $90 and retraced to a low $85. it closed the session failing to record any significant gains or losses during the first day. Tuesday was almost a repeat of the previous intraday session.

It ended with no notable gains or losses. However, the bears in control of the market over the two days as the asset lost more than 4%. Wednesday was different as the bulls took control of the market.

Solana came alive again as it flipped the $90 resistance for the first time in almost six days. Opening at $85, peaking at $93 and closing at $92, the coin gained more than 8%.

Retracement returned to the market the next day as SOL lost all of its accumulated gains. It retraced from $92 to $81, losing almost 9% in the process. The next three days were met by minimal trading activity. Nonetheless, the asset lost more than 11% during this period.

On the part of the indicators, there were no notable improvements as the bearish dominance tightened. The Relative Strength Index (RSI) was at 32, which indicated that further downtrends could result in the coin being oversold.

Becoming oversold yesterday. This may spell goodwill for the coin, as RSI rules suggest that solana will see more price increases. SOL will look to retest the $80 resistance within the six days. However, if the bearish dominance continues, a retest of the $55 support may take place.

4. Tron (TRX)

Tron is one of the few cryptocurrencies that closed the past week gaining with notable increases. However, the first day of the seven-day period was bearish as it lost almost 3%. Nonetheless, the coin saw a lot of volatility as it dipped to a low of $0.064 and peaked at $0.073.

It picked up momentum on Tuesday as it opened at $0.068 and surged to a high of $0.075. It closed at $0.068 – gaining more than 5% in the process. The next day saw the continuation of the uptrend.

The price increase was more fierce as TRX started trading at $0.72 and peaked at $0.086. It ended the session at $0.086 which suggested that the altcoin gained more than 18% during the 24-hour period.

Increased selling congestion hit the market on Thursday and tron retraced from $0.086 to $0.071. It closed at $0.074 which indicates that the asset almost lost a notable portion of its accumulated gains.

The bulls struck on Friday with a more than 16% increase, clearing its losses. An almost equal trading volume was seen over the last two days of the week. However, Saturday saw TRX lose 3.58%. Sunday saw recovery as the bulls pushed the coin by 5.35%.

The Relative Strength Index (RSI) showed a lot of potential as it peaked at 73. The seven-day period ended at 64. However, while most cryptocurrencies were oversold on Monday, it drop as  low as 51.

While there are indications that most projects are soon to see various increases in value, we may expect Tron to also follow the trend and enjoy more uptrends within the next six days. However, the Moving Average Convergence Divergence may be a source concern as TRX may experience a bearish divergence.

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

The crypto market has been on a downtrend over the last three weeks as most cryptocurrencies have failed to excite. Last was no exception as it closed at $1.84 trillion after opening a little higher. The sector valuation hit a high of $1.9 trillion but could not maintain above the mark as market sentiments changed.

The bearish dominance of most crypto assets continues to slow or halt the increase in the worth of industry. The image below further expresses what transpires with the sector over the last seven days.

Source: Coin360

The illustration shows that most projects are down by a few percent. We may conclude that this is as a result of market sentiment during this period. The Fear and Greed index showed very little upward momentum as it failed to exceed 30.

HNT lost 15% over the last seven days, making it the top loser. Waves trail behind with an almost equal value. Apecoin is making a comeback after failing to excite last week. It is currently up by more than 35%.

Most Cryptocurrencies are Still Down

The image above is almost a replica of the past seven days. This is a clear indication that the crypto market is yet to recover from the bearish grip. Most projects in the top 10 are still down by a few percent.

However, the fear and greed index is showing signs of improvement as it is 27. Evidently, there has been a notable increase in the metric as it was at 23 as at yesterday. This positive change can be attributed to the presence of bullish news.

A recent survey reported today by the Bitcoin Mining Council (BMC), a voluntary global group of bitcoin miners who are committed to the network and its core principles, has revealed that Bitcoin mining is becoming more energy-efficient.

Kraken has also secured a Financial Services Permission (FSP) license from Abu Dhabi Global Market (ADGM) to operate as a regulated virtual asset exchange. Will there be further improvements in the market? Here are the top five cryptocurrecies to watch.

Cryptocurrencies to Watch This Week

1. Bitcoin (BTC)

The past week ended with BTC failing to record any significant increase or decrease. We may conclude that both the bulls and bears had a fair share of dominance. However, a closer look at the chart reveals that the top asset was mostly bearish.

Bitcoin saw a lot of volatility on Monday as it dipped below $39k. The retracement continued and was halted at $38,500. The bulls seized control of the market after the rebound and pushed BTC as high as $41,100 but closed the intraday session at $40,800.

The next day was a continuation of the uptrend as BTC made an attempt at $42k but was stopped in its tracks as it faced strong resistance at $41,700. It ended the 24 hour period no significant gains but maintained at $41,493.

Wednesday was also filled with a lot of movement. The apex coin flipped the $42k resistance and hit a high of $42,199. It also saw a low of $40,820 and failed to record any notable increases.

BTC surged to its high for the week as it made an attempt at the $43,000 resistance but halted at $42,976. It saw a low of $39,751 and closed above $40k. The downtrend lasted over the next two days till the end of the week.

The coin closed the week above its first pivot point support. Additionally, the Relative Strength Index (RSI) suggested that the retracement may extend as it was at 39.4.

The Moving Average Convergence Divergence (MACD) also had most traders on edge as both Moving Averages hint at BTC experiencing a bullish convergence. Unfortunately, both MAs have been close since on Wednesday and is yet to seal the bullish signal.

Market conditions are yet to improve, as bitcoin is currently down by more than 5%. The $38,000 support is under threat from the bears and may flip if the most recent market trajectory is not changed.

Failure to halt the dip may result in a retest of the $37,000 support. However, a bullish takeover may guarantee a return to $40,000.

2. Terra (LUNA)

LUNA is one of the few coins that has seen more uptrends over the last seven days. While most digital assets suffer from various corrections, the cryptocurrency surge by more than 18% on the first day and flipped the $90 resistance.

Tuesday was another day filled with upward movements. It hit a high of $96 and a low of $88. The asset closed the day gaining almost 10%. However, the following intraday session was as bullish as the previous one.

Wednesday was also filled with very little movement. The eighth coin by market retested $96 but failed to gain stability above the mark. It was met by seller’s congestion at the highlighted mark and saw a low of $93. It also failed to record any notable increases.

Terra surged to its high for the week as it made an attempt at the $100 resistance but halted at $99. It saw a low of $89 and closed above $90. Almost all of the lost values were regained the next day.

A little downtrend on Friday and the weekend was bullish. The coin closed the week above its first pivot point support. Additionally, the Relative Strength Index (RSI) suggested that the trading volume over the week as it remained around 50.

Terra had a bullish divergence last week Thursday. However, there are signs of a bearish divergence soon. If this happens, LUNA may retest the $80 support, Nonetheless, based on price movement, we deduced that the asset under consideration may surge above $100.

3. Pancakeswap (CAKE)

Pancakeswap has been one of the most bullish tokens over the last seven days.  The first intraday session was filled with volatility as it dipped to its lowest for the week. It dropped to a low of $7.8.

The next day was a continuation of the uptrend as CAKE made an attempt at $9 but was stopped in its tracks as it faced strong resistance at $8.6. It ended the 24 hour period with no significant gains but maintained above $8.

Wednesday was also filled with a lot of movement. The token had the biggest mover of the week on Wednesday as it flipped $9. It closed the intraday session gaining more than 6%.

Cake surged to its high for the week as it made an attempt at the $10 resistance but halted at $9.7. It saw a low of $8.9 and closed above $9. It resumed its uptrend on Friday, gaining almost 3%. Very minimal trading volume was seen over the weekend with very little impact on prices.

The token closed above its pivot point and was considered a bullish asset. However, a change in market sentiment has resulted in the asset flipping its pivot point.

CAKE had a bullish divergence last week Thursday. However, there are signs of a bearish divergence soon. If this happens, Pancakeswap may retest the $8 support, Nonetheless, based on price movement, we deduced that the asset under consideration may surge above $10.

4. Stepn (GMT)

Like the previously highlighted coins, Stephen also showed a lot of resistance to the bearish dominance that ravaged the market. While most cryptocurrencies were dipping, the asset saw massive uptrends.

The surge was so much that GMT became the top gainer during the session. It gained more than 30% as cruised past $2.7 resistance and hit a high of $3.3. Tuesday was a continuation of the uptrend as the token made an attempt at $4 but was stopped in its tracks as it faced strong resistance at $3.8.

The second intraday activity closed with a more than 16% increase and regained stability above $3.7. Wednesday was the start of a two-day-long downtrend. The cryptocurrency lost almost 10% and flipped the $3.5 support.

Seeing a low of $3.30, GMT attempted recovery but failed as it closed at $3.36. The decrease continued to the next day as the asset under consideration lost the $3 support, losing 7% of it worth per unit in the process.

Sunday brought relief as Stepn gained over 7% and regained stability above $3.3. The token closed the week close its first pivot point resistance. Additionally, the Relative Strength Index (RSI) suggested that GMT was seeing the needed buying pressure.

However, MACD had a bearish convergence at the end of the intraweek session. A divergence soon followed yesterday, which hints at further downtrends. Nonetheless, the asset is considered bullish based on the PPS which may mean a quick recovery and an attempt at $4.

5. Kava (KAVA)

Kava could be considered the most bullish token over the last seven days. Massive uptrends were seen during the first intraday session as the cryptocurrency surged above $4.4. The triumph over the resistance was short lived as the token was met by immediate sellers’ congestion.

Regardless of the bearish grip, KAVA closed the day with a more than 7% increase. Tuesday saw minimal trading volume. Wednesday was filled with a lot of movement but kava failed to excite. We observed a successful attack on the $5 resistance as the token peaked a little above the mark on Thursday. it also dipped to a low of $4.3 but closed at $4.5.

The next day was a continuation of the uptrend as the digital asset again made an attempt at $5 but was stopped in its tracks as it faced strong resistance at $4.8. It ended the 24 hour period with a 4% increase and maintained above $4.7.

On Sunday, KAVA surged to its high for the week as it made an attempt at the $5.5 resistance but halted at $5.2. It saw a low of $4.7 and closed above $5.1. it close the session with a more than 6% increase.

The token closed the week close its first pivot point resistance. Additionally, the Relative Strength Index (RSI) suggested that kava was seeing the needed buying pressure.

CAKE had a bullish divergence last week Thursday. However, there are signs of a bearish divergence soon. If this happens, the token may retest the $4.8 support. Nonetheless, based on price movement, we deduced that the asset under consideration may test $6 before the week runs out.

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts

Most cryptocurrencies failed to impress last week as we observed the recurring downtrend that affected them. The inability of these assets to record significant gains has resulted in the reduced value of the global crypto market.

It opened at $2.16 trillion and reached a peak of $2.17T. The high suggests that the sector did not experience any notable increases during this time. It dipped as low as $1.8 trillion but quickly recovered and closed the intraweek session at $2T.

Amidst the corrections, tokens like KNC gained more 30%, making it the top gainer. MINA is the second highest gainer as it recorded a more than 16% increase. Waves is the top loser over the last six days as it is down by 47% with AAVE is closing behind with a more than 26% decrease during this period.

The image below further shows the performance of some assets in the market. We observed that BTC is experiencing a drop in its market dominance as a result recurring decrease in its market cap.

Market fundamentals, on the other hand, were bullish as there were several positive stories. One such is the announcement by Próspera, a special economic zone located in Roatan, Honduras, has declared Bitcoin and other cryptocurrencies as legal tenders within its jurisdiction.

Crypto Market Down by 6.5%

Closing the past week at $2 trillion, traders expect more improvements during the current intraweek session but are yet to see any such positive price changes. Unfortunately, the industry was met by a further downtrend that saw it lose more than 6% of its value.

The global cryptocurrency market cap is currently valued at $1.87 trillion. and is showing no signs of an impending uptrend. The image below further expresses the state of the sector. Although most cryptocurrencies are down by a few percent, a few are seeing notable price increases.

For example, BNB is enjoying a little uptrend. The top gainer over the last 24 hours is Monero, as it is up by more than 8%. APE, SHIB, COMP, and a few other assets are up by more than 5%. With a brief overview of the market, here are the top five projects to watch this week.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

Last week, bitcoin opened at $46,414 and hit a high of $47,201 on the first intraday session but failed to record any notable gains as the candle representing that period is a green doji. An almost good start to the session was expected to mark the start of a new uptrend. However, the opposite happened.

The next two days were marked by downtrends as the asset lost almost 8% of it value during the timeframe. It dipped as low as$43,086 which was the lowest over the last twelve days. Thursday offered more in terms of buying pressure.

An increase in demand concentration resulted in the coin closing the session with positive changes worth a few percent. The rest of the week was mostly bearish, with few price increases.

At the end, BTC ended the previous seven-day period, losing more than 9%. The Moving Average Convergence Divergence (MACD) suggests that the top asset has had a bearish divergence over the last seven days.

It was also observed that the top coin lost its pivot point during the previous session and also dipped below its Displace Moving Average (DMA). Unfortunately, market conditions are yet to improve as bitcoin is currently trading at its open.

With most indicators painting a more bearish picture. The only foreseeable factor that could change the current state of the project are strong fundamentals. We may see BTC retest $38k if market conditions remain the same. However, a change in sentiment could help the largest cryptocurrency steady above $40k.

2. Monero (XMR)

Monero showed a lot of volatility last week. Enjoying a good start to the session, XMR saw notable price change as it closed, exchanging a few percent above its opening price. The next day saw almost an equal amount of trading volume but failed to close, holding on to the gains.

The candle representing that timeframe was a doji and hinted at an impending price decrease. The drop in price happened the next day as monero dipped as low as $211, losing more than 4% in the process.

The bulls launched a repraisal attack on Thursday as the token gained more than 6%, erasing the previous day’s losses. The main highlight of the week happened on Saturday as XMR surged by more than 10%.

It hit a high of $246 – the highest since January. More good news for the token as it retested its first pivot resistance. Unfortunately, it failed to gain stability above the mark but closed the previous intraweek session above that level.

Although it experienced a bearish divergence last week, the bulls successfully ignored the indicator and pushed the asset a more than 8% increase over the last seven days. The new week is expected to be a continuation of that sentiment.

XMR kicked off the current seven-day period experiencing increased bearish dominance. However, the token has recovered the losses and may continue the uptrend. We may see a monero gain stability above its pivot resistance.

3. Apecoin (APE)

The first two days of the week were marked by various dips as the token failed to surge. It lost more than 5% during this period and dipped as low as $11.1. The biggest correction happened on Wednesday as the asset lost a little above 8%.

The next three days were mostly bullish as APE gained a few percent. It saw its biggest hike on Sunday, as it gained almost 10%. It also hit a high of $12.3. It closed the previous intraweek session losing a few percent.

Been fairly a new token, most indicators are not on display. However, the asset is currently trading below its pivot point. We also observed that the $10.5 support held out through all the corrections.

We may expect the same this week as the bears will attempt to push APE as low as $10. Additionally, we may see a retest of the $12.5 resistance, provided the asset picks momentum and its sustained by the bulls.

Conclusion

This article highlighted five cryptocurrencies to watch this week. The above predictions coming true largely depend on market conditions remaining relatively stable for most parts of the next seven days, which of course is not guaranteed.  The volatile nature of the crypto space means investors and traders must do their own research and always keep an eye on the charts