Tag: Coins to Watch

Most cryptocurrencies’ performance over the last seven days were some of the best over the last three weeks. Although these assets failed to see massive increases, nonetheless, these positive changes were notable and reflected in the global cryptocurrency market cap.

The sector kicked off Monday with significant bullish sentiment. As a result, it had a modest rise. Before the day’s end, it achieved a high of $1.14 trillion. It started trading at $1.11 trillion. A few days after hitting a low of $1.10T, the industry rose to its weekly high on Sunday, peaking at $1.15T.

It wasn’t a large increase, but it did show that the crypto market had improved slightly from the previous week.

We noticed that a new altcoin is gaining traction by looking at the top 100 listings. The asset climbed by about 16% during the course of the preceding seven days, turning major levels and exhibiting a bullish attitude. AGIX is a very recent inclusion given that it only joined the top 100s last week.

PEPE, on the other hand, suffered the most loss during this time. It lost more than 16% as it kept going down. For optimism, losses of roughly 11% followed.

With regards to fundamentals, not much happened. Nonetheless, according to China’s local news outlet The Paper, the Beijing Municipal Science and Technology presented a whitepaper on web3 innovation and development on Saturday at the Zhongguancun Forum, praising web3 as an “inevitable trend for future internet industry development.”

Over the next five days, there are many indicators that suggest extreme volatility. Let’s look at a few potential assets that might enjoy this sentiment.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

BTC opened at $27,225 but fell back as selling pressure increased. It retested the $27,000 barrier and fell as low as $26,076. Although it bounced back, it finished at $26,325 and lost more than 3% of its worth. It’s important to note that throughout the previous week, this was the only red candle on the chart.

The biggest cryptocurrency broke the $26,000 barrier the following day. It declined to $25,878 before rising. The asset under examination closed at $26,478 at the end of the session with no appreciable change in value.

On Sunday, when the bitcoin began at $26,875 and made a try at the $28k resistance, there was the biggest increase of the week. Because it ended just barely above the critical level and hit a peak of $28,248 it was highly successful. In the end, it recorded profits of more than 4%.

On the weekly scale, the top coin gained almost 5%. This also makes it the first time in three weeks that the asset is closing a seven-day period on a green. Indicators are also bullish to this effect.

With this week in mind, BTC is beginning to revert from the gains it made the previous four days. As a result, it reduced volatility. Additionally, this is the situation as of the time of writing.

Bitcoin has now seen a two-day losing streak. This is also reflected in the Relative Strength Index, which is at 52. But we observed a further rising concentration of demand, offering a transient support near $27,500.

This emerging barrier is very important as a flip may guarantee a return to the sub-27k. On the other hand, this may also turn out positive as the bulls may build enough demand concentration to attempt $29k

2. Ethereum (ETH)

Ethereum also had many interesting highlights from the previous week. A look at the weekly chart suggests the the largest altcoin saw its biggest positive change in almost five weeks as it gained more than 5%. The candle also revealed that the asset sank to its lowest in two weeks.

This happened on Wednesday. The asset kicked off trading at $1,854 and retraced as selling mounted. During this period, it flipped a key support; the $1,800 barrier. After breaking it, it dipped to a low of $1,777. Although it recovered, it closed with losses of almost 3%.

Nonetheless, the first two days of the week were bullish and the largest altcoin gained almost the same value it lost.

It is also worth noting that ETH dipped further on Thursday. It retraced below $1,800 but rebounded at $1,760. It surged above the said mark before the session ran out.

On the other hand, Ether had its biggest surge on Sunday. It kicked off trading at $1,831 and slowly advanced at $1,900. The largest altcoin peaked at $1,920 before retracing to a close at $1,909. This is an indication that the asset gained more than 4%.

Sunday’s price performance was one that many expected would spill over into the current week. However, this is not the case as the crypto under consideration is struggling to hold key levels. A clear indication of this was when it lost $1.9k during the previous intraday session.

Ether is still grappling with the effect of strong battle for dominance. Based on price movement, ETH may retrace to a low of $1,800 as this was the trend two weeks ago. Nonetheless, strong fundamentals may send the asset as high as $2k

3. Quant (QNT)

Quant price movement is one that made many believe it’s altseason. It rebounded from the downtrend that plagued it for weeks.

The main event happened on Friday as it retraced to its lowest in more than three months. It flipped the $100 support and hit a low of $96. The recovery sparked a price rally that saw the cryptocurrency gain more than 8% in three days.

The altcoin is also enjoying a spillover of this sentiment. During the previous intraday session, QNT gained more than 5%. During the current session, it is up by almost 4%. However, indicators are blaring warnings.

For example, the Relative Strength Index is fast-approaching 70 which means the coin may be oversold if the increase continues. A massive is imminent.

During the previous week, most cryptocurrencies saw notable decreases. A closer look at the global cryptocurrency market cap paints a clearer picture of what transpired.

At the start of the previous seven-day session, the global cryptocurrency market cap was $1.18 trillion. It dropped to a low of $1.09 T before increasing and finishing at $1.12, showing no significant increases or decreases. As a result of frequent declines in the value of major cryptocurrencies, the sector gradually shrunk.

Some of the top losers are BSV and KLAY. Both cryptocurrencies lost more than 14% of their value as selling pressure mounts. On the other hand, some of the top gainers are CFX and LDO as both experienced increases of more than 19% during this period.

During the previous week, there were no significant fundamentals during the previous intraweek session. This is also the same situation at the time of writing. Nonetheless, some assets are showing huge potential.

Top Cryptocurrencies to Watch

1. Bitcoin (BTC)

The largest cryptocurrency by market cap had a lot of ups and downs over the last seven days. In the end, the BTC lost more than 5%. Let’s go over some of the highlights.

Last week, Bitcoin dropped from its opening price of $28,667 and flipped $28,000. Before climbing to $27,690, it reached a low of $27,290. After breaking this key barrier, the top coin suffered losses of around 3%.

On Wednesday, BTC went above $28k but failed to gain stability and retraced. It dipped as low as $26,842 but rebounded and closed at it opening price.

We also noticed a similar move the next day. The apex coin started trading at $27,624 and was met with notable selling pressure. As a result, it dipped to a low of $26,720. However, this time, it failed to return to the said mark and registered losses of almost 3%.

The downtrend got worse on Friday as bitcoin sank further. It broke a new barrier: the $26k support, dropping to a low of $25,800. However, it bounced back and ended at $26,811 without seeing any significant gains or losses.

Indicators at the time were negative. For instance, the Moving Average Convergence Divergence closed below 0. The Relative Strength Index is another unfavorable metric. It started the week at 48 and finished at 40.

With a focus on the new intraweek session, there is almost no difference in market sentiment. However, indicators bear some good news. First, the 12-day MACD EMA is beginning to reverse its negative trend. A closer look reveals that the metric is almost straight and might curve upward if trade conditions improve.

We might consider what happened during the previous intraday session in light of this. Bitcoin reached a high of $27,666 after starting at around $27,000. This was the first attempt at a bullish move of the week.

This could just be the first of many, as the asset might retest $28,000 in the upcoming five days.

However, BTC is holding on to a very thin wall. This may herald further downward trends and an additional effort to retain the $26k support.

2. Ethereum (ETH)

The largest alternative cryptocurrency made many gains and ended the day at its starting price from two weeks ago. Then the event was symbolized by a doji.

Contrary to the previous intraweek session, the asset closed with a notable fall in value. It suffered losses of more than 3%. Let’s go over the main events that occurred during this time.

It began slowly because there were no major price changes on Monday. But it made an attempt at a crucial level, much like other cryptocurrencies that were being watched. During the retracement, ETH hit a low of $1,800 but bounced back to close at $1,849.

It rose to its highest level of the week on Wednesday when it retested the $1,900 resistance. The price retraced below $1,800 for the first time in more than seven days and failed to break through.

Similar to Monday’s outcome, the second-largest cryptocurrency recovered and finished the day at its opening price.

It went over that line the next day and had losses of roughly 3%. Additionally, during the intraday session, it ended below $1,800. On Friday, the cost of ether dropped even more, hitting a low of $1,737 before rebounding and finishing at $1,808.

Additionally unfavorable were the indicators. Both the RSI and MACD dropped below 50.

They are, nonetheless, optimistic at this time. For instance, the 12-day is no longer retracing. It hit a wall and is now displaying indicators of a coming bullish convergence. The tiny increases the altcoin is experiencing are also having an effect on RSI. At the time of writing, the metric stands at 45.

We now turn to price changes in light of all these indicators. Ethereum is currently experiencing its second day of straight gains. This, while a minor shift, is what alters the trajectory of the indicators. This can also be a sign of additional upward tendencies.

The $1,900 resistance is one level to keep an eye on. If trade conditions stay the same, the largest alt may try to hit the mark. It’s also important to note how close the $1,800 support is.

Most cryptocurrencies struggled throughout the previous week. They failed to hold to key levels and as a result, did not register any significant positive change in value.

The situation affects the entire sector, as can be shown by looking at the market capitalization of all cryptocurrencies, which has seen a little decline in value.

The market began at $1.18 trillion and reached a high of $1.23 trillion. It lost steam, though, and fell to a low of $1.13 T. It also ended at this level, showing the bearish sentiment prevailed during this period.

Regarding the fundamentals, a lot of news circulated but had no effect on pricing. For instance, despite the unfavorable year for the cryptocurrency market, Jack Dorsey’s Cash app claimed $2.16 billion in Bitcoin sales during this time.

In a financial report, Coinbase disclosed profits of 23% from quarter to quarter. The exchange made $736 million in the first quarter of the year, beating analyst projections of $658 million.

With the new week in view, there are no strong fundamentals. With this in mind, we will example the chart to get an outlook of how some assets may perform.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

A look at the previous week’s candle shows longer wicks to the top and bottom. This is as a result of bitcoin testing key resistance and afterward, support.

On Monday, BTC started out at $29,254 and briefly exhibited hints of a rise before stopping. It then reversed and flipped the $28,000 resistance. It fell to a low of $27,666. BTC lost over 4% of its value by the session’s conclusion.

The asset began trading at $28,860 and reached a high of $29,701 on Friday. The peak dashed any hopes of seeing the cryptocurrency flip $30k. That was the final attempt during the previous seven days, and we also failed to flip the mark. Nevertheless, it gained roughly 3% at the closing.

The apex coin went into a downtrend during the following two days. Over this time, BTC declined by more than 4%.

The apex coin broke the short-term support at $28,40 during the previous intraday session, as demand concentration dipped. The value of the cryptocurrency dropped by roughly 3%, reaching a low of $27,290. The coin is currently holding onto $27,500 and trading at $27,582.

BTC has established a short-term support at $27,300 over the previous 40 hours. After testing it twice this week, a breakthrough might be anticipated. It could be upward or downward.

One of the key levels to watch is the $27,000 support. We may see an attempt at the mark in the coming days. To the top,  we expect bitcoin to edge closer to $30k.

2. Bitcoin SV (BSV)

Bitcoin price over the last 23% hour is one that left many astonished. It erased all of the losses it incurred during the previous week. It is worth noting the asset saw minimal movement during this period.

The week’s high point occurred on Saturday. It began trading at $33.3 and fell as low as $32. It thus finished the session down over 3%.

Looking at the indications at the time revealed that the purchasing pressure on BSV was gradually waning. The Relative Strength Index makes this clear. It was at 35, indicating that the asset is progressively losing value and might fall below 30 if the downturn keeps on.

During the previous intraday session, this took place. One of the largest dumps of the token occurred. It flipped multiple supports when it first started trading at $32.3. The $32 barrier was broken, then the $30 barrier. It subsequently fell to a low of $28.9. But it recovered and fell more than 6% to close at $30.

BSV was oversold as a result of this large decline. RSI dipped to a low of 25.

Bitcoin SV kicked off trading at $30. During the current intraday session, the asset flipped the $38 resistance and retested the $42 barrier with the same result. It headed to $44 which failed to yield as it faced strong rejection at $43.3. Nonetheless, at the time of writing, the coin is up by more than 41%.

Due to the massive surge, the altcoin is overbought as RSI is above 70. As per RSI rules, BSV may experience a series of downtrends.

On the other hand, we noticed that the Moving Average Convergence Divergence is displaying a bullish divergence. With this reading in mind, we may expect the altcoin to flip $44 and attempt $46.

Most cryptocurrencies were on a recovery path over the last seven days. These assets saw a notable change in value and are gradually moving toward other key levels.

A look at the global cryptocurrency market cap chart reveals that the week is filled with a lot of volatility. It kicked off at $1.15 trillion and surged to a high of $1.23 trillion on Wednesday. However, it retraced from it high and dipped below $1.15 T. Nonetheless, it is currently trading at $1.18 trillion which indicates that the sector failed to register any notable change.

A look at the top gainers revealed that a lot of cryptocurrencies are seeing a notable positive change in values. One such is Render. The token opened the previous current intraweek session at $1.70 and edged to retest $2.80 but failed. It peaked at $2.64 as it faced strong rejection. Nonetheless, it may end the period under consideration with gains exceeding 39%.

Although Injective protocol is currently worth $7.74. A look at the weekly chart suggests it had a volatility-filled session. It kicked off at $6.88 and peaked at $9.29 as is latest attempt at the $10 resistance failed. After failing to retest the key level, it retraced and lost more than half its accumulated gains. As a result, it is up by more than 12%.

With a focus on the new week, there are several cryptocurrencies to watch this week. Let’s go over them

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

2. Internet Computer (ICP)

The asset began trading at $6 during the previous session and moved steadily toward $7. It attempted to retest the $7 resistance but was unsuccessful since it encountered heavy opposition at $6.82. It retraced as a result and is currently trading at $6.57; it may close at this price.

It is important to note that the rise began on Thursday when trading began at $5.32. It jumped to a session high of $5.80 but ended little lower. It did, however, show gains of more than 7%.

The preceding intraday session revealed further attempts at crucial levels. This time, the $6 resistance was reversed. Additionally, it became significantly more stable above it, closing at $6.

As seen by another green candle, the upward trend is still in effect. We noticed that the internet computer was primarily bullish until its most recent attempt toward $7 at 16:00 UTC when we broke it down into the 2-hour chart. Additionally, it shows that the buying pressure has significantly decreased.

Like most cryptocurrencies to watch, several indicators are pointing to more increases. Although the coin is down by a small fraction, this did not affect the essential metrics. For example, MACD showed that the altcoin had a bullish divergence on Friday.

We saw an attempt at the $7 resistance. With this in mind, based on previous price movements, we may conclude that Internet computer may experience notable improvements in price in the coming day. This may also guarantee a flip of the $7 barrier.

A prime example of such a scenario was a few weeks ago when ICP went on a bullish binge from April 9 to April 18. Before it reversed, it was rising steadily for more than nine days. During this period, it increased by more than 38%. Following that, it reversed by over 10% during the following intraday session. However, it traded for $7 prior to this sharp decline in value.

3. Casper (CSPR)

CSPR started trading at $0.054 during the previous intraday session and soared to a high of $0.058. It closed at its top, which represents an increase of more than 7%. The token successfully overcame the $0.055 resistance, making this the most successful of its prior three efforts.

It became more stable above the mark this time. We also saw that the peak, which delineated the boundaries of its $0.058 and $0.050 channels, was a formidable obstacle.

The resistance was breached during the current intraday session, so things are different. Additionally, CSPR is approaching a new critical point. Despite slowly increasing to $0.065, it hasn’t been able to flip.

The wall it encountered caused it to peak at $0.063 and stop moving forward. However, it is important to remember that the surge began after it hit support at $0.057. At the time of writing, it had also increased by more than 6%.

There is a lot of speculation as a result of the most recent surge the coin is seeing. One of them is how it will function during the next few days.

The indicators are very positive at this time. For example, the Moving Average  Convergence Divergence showed the coin saw a positive divergence on Thursday. The subsequent price movement reveals what that incident signifies. The fact that the measure is still rising supports the first claim, thus it is important to note.

Calls for massive increases is also supported by the Moving Averages. For instance, we saw that the 50-day MA has an upward arc. The opposite activity is shown on its counterpart.

Due to the Relative Strength Index’s current readings of above 70, we might anticipate a slight decline in buying volume on the downside. Within the next 24 hours, a minor downtrend may be anticipated according to RSI rules.

Some of the most volatile trading activity occurred during the past seven days. Most cryptocurrencies had considerable rises around the time, as we noticed. Others saw significant drops.

Arbitrum is one of these notable losers. Currently, the asset has decreased by more than 90%. The coin is recovering from an all-time low of $1.10 in what many refer to as a rugpull. STX, which fell by 12% last week, was also among the biggest losers.

Since there was no significant price increase or decrease on a worldwide scale, the cryptocurrency market was rather stable. Several fundamental factors, however, had little effect on prices.

The announcement made by Tether is one example. The issuer of the USDT stablecoin and financial services provider expect to earn a $700 million profit in the first quarter (Q1) of 2023, which ends March 31.

Other news includes investors receiving justice as Titanium CEO may serve the ensuing years in prison for a $21 million fraud. Another thing that happened was that the $100 million deal to buy the Thai cryptocurrency exchange Zipmex fell through since its rescuer didn’t pay the $1.25 million that was due on March 23rd.

There is a lot of anticipation regarding how prices may perform as the new week approaches. Let’s discuss various cryptocurrency assets.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

The prior week’s bitcoin price showed a major conflict between bulls and bears. It began at $28k but did not experience any significant price adjustments throughout the first two days of the time frame under consideration.

On Wednesday, this changed when the coin reversed course and hit a low of $26,688. Despite a minor comeback, it was unable to make up the losses. Hence, it closed down by more than 3%. We observed a comparable occurrence on Friday, and the pinnacle coin experienced a comparable degree of decline.

But, to make up for Wednesday’s loss, the top asset experienced its greatest increase on Thursday. The final two days of the week saw a negligible uptick in BTC. This prevented it from registering any appreciable value growth.

We identified several readings from indicators that might influence price behavior. The Moving Average Convergence is the first metric to take into account. We saw that the elevation of both EMAs is steadily slowing. We are now witnessing a bearish convergence as a result.

The $26k support level is the first one to watch because of an impending divergence. The apex coin fell to a low of $26,688 over the previous seven days. At the previous intraday session, it decreased and fell to $26,500. The asset could challenge the $26,000 ceiling again.

It’s important to keep in mind that a shift in the market could cause the top coin to trend upward. If that occurs, we would anticipate a second attempt at the $28k resistance.

2. Ethereum (ETH)

Ethereum had a splendid performance during the previous week. Like most cryptocurrencies to watch, it had a very volatile performance. As a result, several events took place.

Nonetheless, we noticed a massive tussle between the bears and bulls as they struggled for dominance. A notable character over the last seven days ETH losing and regaining $1,800.

However, this changed as we noticed a significant dip that ensured of the $1,700 support during the previous intraday session. While indicators are largely silent as to how prices may play out, we may examine price movements for answers.

We noticed that the $1,700 barrier held out over the last ten days. We may expect it to continue as we notice a growing distance between the current price and the highlighted mark.

On the other hand, $1,800 is not one of the strongest and may give way within the next five days. We may also expect more attempts at gaining stability above the said mark.

3. Litecoin (LTC)

The preceding week saw a fantastic performance from Litecoin. It started out the week at $84 and fell as low as $75. Many would say that the prior intraweek session didn’t get off to a good start. LTC closed, though, with a noticeable price increase.

It attempted to reverse the losses on Tuesday but peaked at $83 before closing with gains of more than 5%. When it retested the $88 on Wednesday, it accomplished the lauded feat. The other coin briefly reversed it before closing at $86. Despite this, it had gains of more than 5%.

On Thursday, LTC experienced its largest surge as it crossed the $90 million mark. It then soared to a high of $94 after that. The session ended with a positive move of more than 7%, despite a slight retracement. The weekly scale also showed same increases.

The preceding week saw gains of 11% for Litecoin. At that time, indicators were also favorable because the MACD’s upswing was continuing and the Relative Strength Index was still below 60.

Many people would like to forget the trading activity during the previous intraday session because the altcoin dropped roughly 5%. Other measurements, such as the Moving Average Convergence Divergence, also showed this.

The 12-day EMA is currently curved lower, signaling the beginning of a bearish convergence. This suggests that the asset under examination will continue to trend downward and could retest the $80 support level. Yet, it could be able to get back $90.

Every week, the same issue arises since the value of cryptocurrencies is increasing noticeably: What are the top five cryptocurrencies to watch this week?

The prices of most crypto assets skyrocketed last week, increasing the market capitalization of all cryptocurrencies by more than 10%. It was $980 billion when the seven-day session began and reached a high of $1.18 trillion. The price at which the time period under consideration ended was also this.

Altcoins like MASK and CFX had gains of more than 50% and 30%, respectively, during this period. Ahead of the intraweek session’s conclusion, several significant alternatives gained traction. One such example is Binance coin, which on Thursday overcame a $330 resistance. Additionally, it finished the intraday session up more than 7%.

While many made assumptions about the causes of the increases, others proposed speculations. One such is the fact that many people are looking for alternative assets as a result of the collapse of the global financial system. While this has always been the case, figures indicate a significant increase in investment in the cryptocurrency sector.

Moreover, the CEO of Binance exchanged about $1 billion for bitcoin. It is difficult to dispute the influence of favorable announcements on the present rise when the fundamentals are this strong.

The new week is gradually starting, so let’s look at how various assets might do.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

The preceding week saw one of Bitcoin’s largest jumps at the start. The price peaked at $24,618 after trading began at $22,190. At its peak, though, there was a significant rejection. It increased by more than 9% and closed at $24,200 as a result.

 

 

On Friday, the session’s next significant high point occurred. It tried to retest the $28k resistance when it opened at $25,000. Sadly, it was rejected outright for $27,818, which led to its failure. Nonetheless, it ended the day at $27,466 with gains of about 10%.

The apex coin increased by over 26% on a weekly basis. It also featured a number of signs in a positive manner. Relative Strength Index is one example of this. It is currently higher than 70. It indicated that, as of Friday, BTC was overbought.

A significant bullish trend is also shown by the Moving Average Convergence Divergence for the asset.

Prices are nearly equal to their opening prices when looking at the week. The top coin, for instance, started the day at $28,100 but saw no significant gains on Monday. It did, however, lose some of its value. Bitcoin’s price has returned to its initial level as of this writing.

We also found that the RSI is still above 70, which is cause for alarm. The coin could reverse, according to the guidelines for the indicators.

2. Ethereum (ETH)

The biggest altcoin shared in the gains from the previous week. During its rampage, it also turned important levels. One such hurdle that it overcame on Monday was $1,700. Even though the day finished somewhat lower, gains of almost 5% were made.

The week’s biggest high point was when it turned $1,800. It took place on Friday when the asset reached its peak at $1,803 before falling. Nonetheless, the price increase went beyond 7%. On Sunday, ETH also attempted to break the aforementioned record but failed, repeating its performance from Friday.

Ethereum finished the previous week with gains of more than 12% on a weekly basis. The indicators all pointed in a bullish direction. For instance, RSI. The reading was precisely 65. This demonstrates a discernible rise in the buying pressure at the time as well. There is no additional information because MACD is not very vocal.

With the new week in mind, it is important to note that ether is not currently experiencing the same momentum as the previous session. The biggest altcoin is recouping its losses after a Monday that some could characterize as negative.

Given the lack of any indicators this week, it is difficult to forecast how the asset would perform. But, establishing consistency over $1,800 might clear the way for a test of the $1,900 resistance.

A review of the indicators supports the aforementioned claim. We noted that the buying volume for ether has drastically decreased, as shown on the RSI. It is currently at 60 and might possibly be a sign that prices will drop further.

3. Ripple (XRP)

The previous week saw very erratic performance from Ripple. It started off at $0.37, fell to a low of $0.35, then rose to a high of $0.38 before closing at that price. The next day, a repetition of similar incident occurred, and the cryptocurrency reached a new high.

Wednesday saw a notable price drop for XRP. It lost more than 3% as it reversed course to a low of $0.35 and closed at this level.

The following two days were spent in recovery as it gained more than 6% during this time. A clearer picture of what happened and how it might effect pricing this week can be obtained by looking at the indicators. The Moving Average Convergence Divergence is the first thing to take into account.

The altcoin saw a positive divergence on Thursday. After this incident, we saw an improvement in the price trend and an increase in the asset’s worth. We anticipate a greater price jump, therefore the increase may continue this week as well.

We saw that XRP has increased by more than 20% in the hours leading up to this article. This was brought on by the revelation that the parent company’s legal struggle with the SEC might succeed. It attempted to flip the $0.5 resistance but was unsuccessful.

Yet, before the week is up, we might witness another attempt. On the other hand, a shift in the market’s trajectory might make it difficult for the coin to hold onto $0.42.

 

Most cryptocurrencies to watch this week experienced massive downtrends during the previous intraweek session. They had a massive decline in value. We also see a significant decline in value in the global cryptocurrency market cap as a result of this.

At the start of the session, it was valued at $1.02 trillion. Yet, its value drastically decreased during the course of the following seven days. It fell to a low of $914 billion, but then started to rise again, closing at $985 billion, representing an almost 5% decline in value.

A look at the market cap showed that the small recovery took place during the weekends. It also creates a pattern for future price hikes. This is what is happening right now as most cryptocurrencies are experiencing one of their largest rises.

Nonetheless, it is worth noting that fundamentals played a huge role in the previous week’s downtrend. News of Silicon Valley Bank shutting down had most traditional instruments in panic. We are seeing a repeat of the event as we noticed another massive reaction to prices.

This time, it’s positive. The rally across the market was buoyed by the Feds forecasting a decrease in interest rates. The release of CPI report also played an important role in the current rise of most crypto assets. Let’s see how some cryptocurrencies may perform this week

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

During the recent intraweek session, Bitcoin had several important levels challenged again. It started the week at $22k but fell as low as $19k by the end. Prices were also impacted by this, as evidenced by the strong negative indications on the indicators.

The Relative Strength Index, for instance, temporarily fell below 30 at the height of the bearish dominance. Since it fell below 0, the Moving Average Convergence Divergence was also impacted. In addition, we saw that the 200-day MA had curved and might be beginning a downturn.

While all of these indications indicated that the top asset will continue to trend downward, fundamentals are at odds with this prediction. We noticed a rise in buying activity after many encouraging news stories as the price of bitcoin reached its highest level in more than eight months.

As a result, the MACD and RSI both appear more favorable. For instance, both metrics are showing signs of further price increases after leaving their respective danger zones and becoming healthy. It is important to note that the highlighted MA is not changing.

The bullish indicators are contradicted by the candlestick pattern, which suggests the contrary. An uptrend’s end is only indicated by the inverted hammer pattern. If this proceeds, BTC might once again have trouble maintaining important supports. Its peak and current prices are a blatant proof of this.

The peak price of the pinnacle coin reached $26,400. It is currently below the $25k threshold at $24,700. Yet, we may anticipate that the impact of the optimistic fundamentals will persist. In this scenario, we anticipate a $27,000 attempt.

2. Binance Coin (BNB)

Over the past eight days, there have been several changes in attitude related to Binance coin values. While some were unconcerned, many said it was one of its worst performances. However, the asset’s extreme volatility is one of the things that makes it one of the best cryptocurrencies to follow.

It began trading the prior week at $288 but fell as low as $271. It experienced extremely bearish readings on its indicators, just like the assets that were previously highlighted. For instance, the RSI sank as low as 21, and the MACD also experienced movement. But as the session came to a close, these readings shifted.

The coin experienced its highest week-long increase on Sunday. It increased by more than 4%, which also affected the indicators that were emphasized. Although the RSI was in an upswing, we saw an abrupt change in its trajectory. Also, the MACD showed a bullish convergence.

A divergence occurred as a result of trading activity in the preceding intraday session. According to this indicator, we may anticipate future price hikes. The $320 resistance is one of the important levels to keep an eye on right now. For the next six days, we might anticipate a retest of this mark.

Yet, we recognize that candlestick patterns do not appear to be as promising as the other criteria. The five-day advance may be coming to an end as the daily chart shows an inverted hammer. BNB could once more lose the $300 support.

3. Stacks (STX)

 

There is a mix of top gainers and losers among the top five cryptocurrencies to watch this week. Nonetheless, let’s discuss their chances and potential outcomes over the next six days.

Let’s review how they did over the previous seven days before getting into them. It is noteworthy to observe that the majority of assets, including the global market cap, are down and there were many bearish activities.

The value of the cryptocurrency market cap peaked at $1.08T and began the week at $1.07T. As the week progressed, it fell to a low of $1.01 before recovering just a little. It ended the session at $1.02; depicting no significant increase and losses of almost 5%.

With regards to fundamentals, there were none that could affect prices. However, so many announcements made the rounds.

For example, the renowned non-fungible token (NFT) company Yuga Labs announced on Tuesday that it intended to launch the TwelveFold NFT collection on the Bitcoin blockchain.

In other news, despite large unrealized losses, Australian SMSF pensioners are undaunted by the bear market and are still investing in cryptocurrencies.

A look at the global cryptocurrency market cap says prices are fairly stable. Let’s see how some assets will perform.

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

The apex coin dropped more than 4% over the past week. The preceding intraweek session’s opening day was characterized by extreme volatility as it dropped to a low of $23,136 and reached a high of $23,560. It’s interesting that in the end, it didn’t record any significant improvements.

The subsequent days saw little to no noticeable price movement. This came to an end on Friday when we observed a significant pricing change.

For the first time in more than fourteen days, Bitcoin retested the $22,000 support when it opened at $23,469. Although closing at $23,300, it lost more than 4% of its value.

Following this incident, there was little attempt made to recoup during the final two days of the week. Many indicators dropped lower into bearish domination as a result of the significant loss on the fifth day.

For instance, the 12-day EMA of the Moving Average Convergence Divergence distanced itself from the 26-day EMA. The Relative Strength Index also experienced some negative movement, falling to a low of 42.

As we turned our attention to the upcoming week, we saw that BTC was attempting to rebound. For instance, it is still clinging to $22,400 after peaking above $22,600.

While it is difficult to predict how prices will change, one level we might watch is the $22k support. At this point, there is a significant concentration of demand.

It’s also important to note that if the highlighted level turns, we might anticipate a $21k retest. On the other side, we might anticipate an attempt at the $24k resistance if trading conditions improve.

2. Ethereum (ETH)

The previous week was not the best for the asset, like other cryptocurrencies to monitor this week. It is safe to say that it lost about 5% during the time period under review and was primarily bearish.

It did not experience one of its better starts on Monday as there were no significant price moves. For the next 24 hours, this trend persisted, and ether only lost a tiny portion of its value.

The largest altcoin closed with gains of bitcoin over 3% on Wednesday. It reached a high of $1,669 during this session and finished slightly lower. Throughout the previous seven days, there had only been one green candle.

Prices consistently fell during the final four days of the week. On Friday, one of the biggest occurred.

ETH retested the $1,600 support as it resumed trading at $1,648. The coin flipped, falling to a low of $1,543, but it ended up little higher. Nonetheless, it suffered losses of over 4%. The second-largest cryptocurrency’s red candle on Sunday indicates how the week came to a conclusion.

At the time of writing, the market sentiment has not changed, and ether is still in trouble. If the current state of the market holds, it might test the $1,500 support once more before the session is out.

Yet RSI presents a more bullish picture of the asset’s future. Support was found at 42. When it last sank to this level, a new bullish round was initiated. If nothing changes, we could anticipate receiving $1,600 back.

3. Maker (MKR)

At the previous intraweek session, Maker was among the top gainers. Its price rose by a staggering 22%, marking the third straight week of advances.

The asset’s opening at $791 and top price on Wednesday, one of the highlights of the week, was $959. It concluded with gains of more than 16% at $925.

On Sunday, a smaller-scale version of the same thing happened. MKR nevertheless saw increases of about 10%. Chart analysis reveals that indications are also bullish, which could have an impact on prices this week.

The 12-day EMA is rising, and the distance between it and the 26-day EMA is widening. Furthermore above 60 is the RSI. The trading activity taking place in the current intraday session, however, paints a different picture.

MKR is off to a bad start, already down more than 3%. The Moving Averages should also be taken into consideration. The token was simply a gold cross.

Solana is one of the most popular blockchains and has garnered a lot of attention over  the last few years. It also boasts a massive ecosystem that can handle transactions at great speed.

Due to this, as of September, it had more than 350 projects operating on it. Let’s get some insight into the blockchain before going over the projects with huge prospects.

What is Solana?

Often described as “the Ethereum Killer,” Solana shares a few similarities with the said blockchain but claims to be different.

It was created to increase throughput beyond what other blockchain technology could only hope to achieve while maintaining decentralization, cheap costs, and security. These were the same principles the ETH founder proposed for his project.

While earlier blockchains used proof-of-work and proof-of-stake for validation or to process transactions, Solana uses proof-of-history.

This process outperforms several other methods in terms of power efficiency. It also resolves the issue of time agreement that plagues the majority of distributed systems. As a result, it boasts more than 65,000 TPS with each transaction costing as little as $0.50.

Although there are issues with Solana’s reliability, it is still one of the most sorted after blockchain.

With a brief overview of the ecosystem, let’s go over top assets with huge potential.

SOL

Solana price over the last twenty-eight days was not short of drama. After concluding the previous months with notable increases, many expected more price performance.

The first day of the session saw the coin register notable changes in value as it opened at $23.9 and surged to a high of $25.2. Although it closed a little lower, it saw a more than 4% increase.

It made more attempts at flipping key resistance during the next intraday session as we noticed it peaked at $26. However, it retraced and closed with losses of more than 2%. After this performance, we noticed no further improvement in price.

It got worse on the ninth day of the month as it opened at $23 and saw a massive decrease in value. It lost the $20 support and dipped to a low of $19.9. It reclaimed the said mark, but recorded losses of almost 12%.

Two days later, we noticed a more than 3% increase. This also marked the start of a bullish run as the asset attempted to reclaim the lost levels. At the peak of the trend, it flipped the $27 resistance.

It is worth noting that SOL also had its biggest surge on the fifteenth day of the month. It closed with gains of more than 9%. Nonetheless, after it peaked, the altcoin started a decline that reflected on the chart as bull flag.

As at the time of writing, we noticed that Solana is seeing an increased demand concentration at $21.7. This is especially true as we noticed more than three attempts at breaking the support.

If it continues to hold to the mark, it may be a launchpad at further price increases. This possibility is also looking more realistic as indicators support this claim.

The first is the Moving Average. The 200-day MA is on an uptrend and may intercept the 50-day MA during the next month.

Chainlink

Chainlink kicked off the previous month with notable increases. It peaked at $7.27 after it opened at $6.95. Although it retraced, it recorded gains of more than 3%.

Like Solana, it attempted flipping another key resistance during the next intraday session. However, it retraced and dipped lower than its opening price. It also failed to register any notable change in worth during the session.

On the ninth day of the month, we noticed another attempt at a key level. This time, it was en route to $9 but fell short at $7.81. As a result of the bearish sentiment during that intraday session, it retraced lower than its opening price and lost more than 2%.

Four days later, it lost the $6.50 support and dipped to a low of $6.43 but failed to record any notable change in value. During the next intraday session, it had a similar performance but had a green candle.

As the asset tried to recoup the lost levels, this also signaled the beginning of a bullish run. It reversed the $27 resistance at the trend’s height.

Notably, SOL also experienced its largest increase on the fifteenth day of the month. It gained more than 9% as it closed. Yet, the altcoin began a slide once it reached its top, which is seen on the chart as a bull flag.

As of the writing of this article, Solana is experiencing a higher concentration of demand at $21.7. This is particularly relevant because we found evidence of more than three attempts to break the support.

The Graph

Arweave

Audius