Tag: Coins to Watch

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

The past week was another memorable one for the entire crypto market as it closed a more than 10% increase. It opened at $1.84 trillion and closed above $2 trillion. A closer look at the chart reveals how the sector gradually picked up momentum as the session progressed.

The sector valuation crossed $2 trillion for the first time in the last 30 days on Thursday, which was widely anticipated due to the constant price most cryptocurrencies experienced at the time. Nonetheless, the most interesting day was Sunday, when most cryptocurrencies enjoyed massive hikes, adding to the gains over the seven-day period. 

Following WAVES performance two weeks ago, there was several bullish speculation as to how it will perform over the next seven days. However, these projections failed as WAVES lost more than 5% and was the top loser.

There were notable strong fundamentals over the last seven days especially on Zilliqa (ZIL). The coin was enjoying a 5%-10% increase or decrease until the announcement of a partnership with Agora, and it surged by 100% at the following day. It ended the seven-day timeframe with a more than 150% increase.

The Crypto Fear and Greed Index also saw improvements as we observed that it is currently at 49 (neutral) has opposed to fear some weeks back. It peaked at 51 during the previous intraday session.

(Source: Coin360)

Currently, the previous sentiment seems to be dying. The image below further expresses the current state of the market. ApeCoin leads the losers with amore than 6% decrease. Will this continue for long?

Market fundamentals as of the time of writing hint at a possible price increase across the sector.  One such indication is that MacroStrategy, a subsidiary of publicly-traded company MicroStrategy, has obtained a $205 million loan term to purchase more bitcoin. Blockchain ecosystem Terra has also been gobbling up BTC to back its controversial UST stablecoin.

If the purchases are enough to spark a continued market increase, which coins will benefit?

Top Five Cryptocurrencies to Watch This Week

1. Bitcoin (BTC)

Last week, Bitcoin opened trading at $41,293 but failed to impress as it lost a few percent on the first day. It dipped as low as $40,516 during this period and closed a little above $41,000. 

 

However, Tuesday was different as we observed that the top coin started an uptrend that saw it gain a little above 3% and hit a high of $43,337. The next four days were marked by minimal price increases. 

Bitcoin saw its biggest surge on Sunday as it hiked by more than 5% and flipped the $46k resistance for the first time in 30 days. It also made an attempt at the $47k resistance but failed as it was met by retracement at $46,750.

The hikes resulted in the top coin  flipping its pivot point, hence suggesting that the it is bullish. We also observed that the most recent price increase has resulted in the apex coin edging closer to its first pivot resistance.

The Moving Average Convergence Divergence (MACD) also supports the previous reading as we note that both lines are above 0 and are gaining more stability above the mark. The histogram associated with the indicator shows the constant increase in buying pressure over the last seven days.

BTC is currently enjoying small hikes that have resulted in the Relative Strength Index surging above surging closer to 70. We may see the apex coin step out of this boundary and become overbought if the current momentum is maintained.

Additionally, the largest coin by market cap is trading above $47,000. If this trend continues, it may flip the $48,50o resistance over the next six days. 

2. Ethereum (ETH)

The candle that represented last week Monday was an inverted hammer. This candlestick pattern indicated the end of a downtrend, which proved true during the previous intraweek session. 

 

Although the session ended with ETH recording very little gain, it was the start of a new uptrend. The next day offered more in terms of price increase as the largest alt tested the $3k resistance and flipped it but failed to gain stability above the mark. 

The said level succumbed to bullish pressure the next days as the coin achieved a close above $3,000. The hike continued over the next three days with little pause. However, the biggest gain came during the final intraday session that saw ether gain almost 5%.

Ethereum closed the period bullish as per the Pivot Point Standard. It flipped it pivot point. Like BTC, the Relative Strength Index edged closer to 70. MACD is also bullish as its histogram has been constantly on the rise over the last seven days. Additionally, both lines were above zero.

The previous intraweek session saw the largest alt trade very close the first pivot resistance. The most recent price suggests that the second largest coin has flipped the mark and is exchanging above it.

Unfortunately, ether is currently overbought and may retrace soon. Nonetheless, we will see an attempt at the $3,700 resistance. However, the impending retracement may send ETH as low as $3,200.

3. Cardano (ADA)

The previous seven-day period Cardano opened trading at $0.87, and saw a lot of bullish actions on the first day of the week. It hiked by more than 4% as it hit a high of $0.93. Following a bullish start to the week, ADA was bullish for most of the period.

 

The biggest break came on Wednesday as the asset gained more than 13% during that session. Additionally, that marked the first time the seventh largest coin by crossed $1 since February 19.

The hikes continued over the weekend as ADA solidified it stay above $1 with a flip of the $1.1 resistance. It gained more than 7% during this period and hit a high of $1.18. It ended the week a more than 34% price change.

As per MACD, Cardano flipped bullish on Thursday as both lines steadied above 0. However, the Relative Strength Index (RSI) was a source of concern to the bulls as the digital asset under consideration was overbought. Nonetheless, ADA closed above its pivot point and edged closer to testing the first pivot resistance.

The coin has shown signs of continuing its price growth this week but has been met by sellers’ congestion. This was in response to the pair being overbought. After the retracement, we see may the seventh largest coin by market cap attempt flipping the $1.3 resistance.

4. Terra (LUNA)

It was established that LUNA had a bearish divergence last week. The bulls struggled to keep the coin afloat and succeeded as it closed with little gain. However, the effect of this signal is still felt over the last seven days. 

Nonetheless, buyers pushed back with a very strong need for pressure as Terra kicked off the previous intraweek session very strongly. It closed the period with a more than 5% increase and hit a high of $97.

Terra was mostly bullish last week  but recorded its biggest loss on Friday as it dipped by almost 4%. A closer look at the chart reveals that the asset saw three days of retracement that almost wiped out the first intraday session gains. However, the last 24 hours session saw it gain almost 4%.

LUNA closed the previous intraweek session with an almost 4% increase. We observed that the eighth largest digital asset saw a gradual hike in RSI amid the price fluctuation. It also experienced more improvement on the Moving Average Convergence Divergence (MACD).

Terra seems to be back on the bullish path, as it has been up by almost 9% over the last 18 hours. MACD’s histogram is printing bullish signals as we observe an increase in buying pressure that may play a vital role over the next six days. An increase in demand concentration will result in bullish convergence within the next six days.

Additionally, LUNA will experience a bullish divergence soon, which makes it a worthy candidate for the list of cryptocurrencies to watch.

5. Waves (WAVES)

In the last two weeks, Waves closed in profit – making it the fourth week of consecutive gains. We noticed the bulls build on the bullish signal from the Moving Average Convergence Divergence (MACD).

Additionally, it gained stability above its DMA and its third pivot resistance. However, the 38th largest cryptocurrency was not off to a good start as the first day of the intraweek session was marked by Doji.

WAVES flipped the $32 resistance but relinquished the level as market sentiments changed. Nonetheless, it has regained composure and closed above the mark. The previous seven-day session was different as the asset failed to surge. 

This is indicated by the several dojis that were seen on the chart. Additionally, the coin had a bearish divergence that left the bulls struggling to hold the it above $30. Has the situation changed?

WAVES is one of the biggest gainers in the market. It kicked off the week strong as it gained 33% on the first day. Currently up by more than 13%, we may conclude that WAVES will continue its uptrend.

Additionally, it is set to see a bullish divergence which may be the final proof of a volatility-filled intraweek session.

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 previous intraweek session was one that allowed both the bulls and bears a spotlight. The industry was valued at $1.71 trillion at the start of the week and peaked at $1.96 trillion during the timeframe under consideration.

The high was perceived as an indication of more uptrend as the Fear and Greed Index peaked at 51 at the time. One of the highlights of the week was when the market surged and gained more than 10% within 24 hours.

However, the descent to the current valuation was almost as quick as the hike and the crypto market closed almost the same way it opened. The past six days saw a mix of both bullish and bearish trends that ended up in the market, losing more than 7%.

The state of the crypto market is further expressed in the image below. We observed that the top loser over the past seven days was Fantom, as it lost more 25%. Waves gained 45% during this period, making it the top gainer.

(Source: Coin360)

Unfortunately, the market is yet to see any improvement as most projects are experiencing further downtrends or stability. We it continue throughout the next six days?

Top cryptocurrencies to watch this week

1. Bitcoin (BTC)

The previous seven-day period ended with a dip below its DMA as well as its pivot point. Additionally, we also observed that the Moving Average Convergence Divergence (MACD) is also giving off a bearish signal as both lines were just intercepted.

Bitcoin had its best start to an intraweek session for the first time since January. The coin surged by more than 14% as it regained composure at $42k. This bullish start continued to the next day as the largest cryptocurrency by market cap flipped the $44k resistance.

Unfortunately, the bulls were unable to sustain the uptrend and BTC resumed its downtrend. Wednesday was marked by minimal trading volume but saw more selling pressure that resulted in its apex coin losing a minute percent.

The retracement continued throughout Thursday, the largest digital asset lost almost 4%. Bitcoin saw its biggest loss on Friday, as it dipped by more than 7% in a quick correction that lasted barely 4 hours.

The weekend went the way it has been with Dojis representing both intraday sessions. The asset under consideration may close the week gaining or losing anything significant. During the previous intraweek session, the bulls successfully fended off attacks on the $38k support.

BTC returned to the previous pattern of minimal trading volume during the previous intraday session. The coin failed to record any significant gains during that period under consideration.

Although the current market situation has improved, the apex coin is still struggling below its pivot point and the Displaced Moving Average. How will it perform this week? It remains unclear but using previous price movements, we deduce that bitcoin may retest $40k but fail to gain stability above it.

2. Terra (LUNA)

One outlook noted that the RSI was on the rise – indicating an increase in buying pressure. If the bulls sustain the current market trend, terra may end the week above $90. LUNA saw a high buying pressure that saw it hit a high of $97.

However, the momentum dwindled and the digital asset retraced, closing the week at $79. Regardless of its performance, Terra climbed up the market cap rank and is currently the seventh largest coin. Additionally, LUNA is still perceived as a bullish asset, as it has gained more than 9% over the last seven days and is trading above its pivot point.

Terra started the current week recording minimal losses. You may want to place the current assets under consideration on the list of cryptocurrencies to watch this week. It is currently up by more than 5%, and is trading above its pivot point.

LUNA may see more uptrends over the next six days based on the Pivot Point Standard. However, we observed that the token is close to a bearish divergence on MACD which may mean the start of a downtrend.

3. Waves (WAVES)

Waves saw a high of $21 last week and a low of $11. The coin saw a massive uptrend during the previous intraweek session as it opened at $11 and closed at $17 – a more than 58% increase at the time.

The coin has continued its uptrend into the current seven-day timeframe. It has gained more than 29% and is still on the rise. The token flipped the $24 resistance a few hours to the time of writing but is currently exchanging at $22.

Additionally, WAVES is trading above it DMA, which spells goodwill for the asset as we may see and attempt at the $25 resistance next. If the current momentum is sustained, we may see the token retest $30 and close between $28 and $25.

4. Thorchain (RUNE)

RUNE saw a high of $6 last week and a low of $3.3. The coin saw a massive uptrend during the previous intraweek session as it opened at $3.4 and closed at $4.6 – a more than 34% increase at the time.

Unfortunately, the market is void of the same sentiment that was seen seven days ago. The coin has is currently on a downtrend as it is on its second day of consecutive losses. It has lost more than 8% and is still experiencing retracements. The token flipped the $4.5 support a few hours to the time of writing but is currently exchanging at $4.2.

Additionally, RUNE is trading below its DMA, which translates to more worries for the bulls. Based on the most recent sentiment, the asset may test the $4 support. If the bears continue their grip on the market, we may see the token retest $3.2 and close between $3.8 and $3.5.

5. Celo (CELO)

Celo saw a high of $2.9 last week and a low of $2.3. The coin saw a massive uptrend during the previous intraweek session as it opened at $2.3 and closed at $2.5 – a more than 8% increase at the time.

The coin has continued its uptrend into the current seven-day timeframe. It has gained more than 10% and is still on the rise. The token flipped the $3 resistance a few hours to the time of writing but is currently exchanging at $2.8.

Additionally, CELO is trading above it DMA, which spells goodwill for the asset as we may see and attempt at the $3.2 resistance next. If the current momentum is sustained, we may see the token retest $3.5 and close above $3.2.

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 market closed the past week at $1.74 trillion. The sector was estimated to be over $1.88 trillion at the start of the week. It hiked above $1.90 trillion before the end of the intraday session on Monday.

Traders were thrilled as the industry peaked at $2 trillion over the past seven days – oblivious to the impending downtrend. The more than 8% that was lost due to the downtrend left the buyers in shock as we observed a rapid change in market sentiment.

Following the start of a bearish grip on the market, most projects in the top 100 are down by a few percent. The image below further shows how some assets are in the top 100. EGLD is the top loser as it lost more than 30% during the current intraweek session.

Source: Coin

Market sentiment is returning to fear as the Fear and Greed Index is currently at 20. The absence of price defining stories has also contributed to the current state of the industry. However, mass adoption continues as Jared Polis, Governor of the U.S. state of Colorado, has confirmed that the state will soon start accepting cryptocurrencies for tax payments.

Many are unsure of the next market action as tensions between Russia and Ukraine have started to affect stocks. Will it affect crypto prices?

The Top Five Cryptocurrencies to Watch This Week

1. Bitcoin (BTC)

Last week, Bitcoin opened trading a little dull as it closed the first day of the week with minimal loss. It picked up momentum as the intraweek session progressed. It gained more than 5% over the next 48 hours – sparking hopes of a return to $45k.

Unfortunately, expectations were squashed as the largest digital asset started a downtrend on Thursday. Like the previous session, BTC lost all its gains and may close the losing 9% as it opened the period under consideration at $42k and is currently exchanging at $37,500.

Many critical levels were lost during that time. One such is the $40,000 support lost its strength as it flipped on Sunday and the largest cryptocurrency dipped as low $38k. As the correction intensified, the $37,000 support also broke the apex coin hit a low of $36,350 a few hours to the time of writing.

The week ended with BTC experiencing a bearish divergence as indicated by the Moving Average Convergence Divergence (MACD).Additionally, the histogram associated with the Moving Average Convergence Divergence also prints a gradual downtrend in demand.

The Pivot Point Standard also suggests that the top asset may have fallen into another bearish dominance as it is currently trading below its pivot point. In other words, the past intraweek session closed with the bulls having more to worry about.

Bitcoin is gradually picking up momentum as at the time of writing. However, many worry that a repeat of the past seven days of events may play out. If this happens, BTC may be left trading below $35k. Nonetheless, if the current trajectory is sustained, the apex coin may resume exchanging above $40k.

2. Ripple (XRP)

XRP was one of the few coins that recorded significant gains two ago. The buyers would have hoped for a continuation of the past momentum as XRP was one of the few tokens to end that period in profit. The digital asset gained more than 17% during that time.

Unfortunately, the reverse was the case as the closing price suggests that ripples have succumbed to the general market sentiment as it is down by more than %4. Nonetheless, the coin saw a high of $0.86 and a low of $0.75.

Currently down by more than 12% over the last seven, the buyers will hope for a rally. However, this is unlikely as MACD’s histogram indicates the increase in selling pressure as the bulls fail to concentrate demands at $0.75 – leading to the token trading at $0.70 as at the time writing.

If the bears’ dominance on the market continues, XRP may close the week exchanging below $0.65. A change in the coin trajectory may guarantee a retest of the $0.72.

3. Decentraland (MANA)

Decentraland lost almost 5% last week as it saw a low of $2.61 and a high of $3.4. The end result of the previous intraweek session was not favorable as the buyers appeared to have the upper hand in the market at the start of that period.

Some of the critical levels that were lost during the timeframe include $3.3 as well as $2.8. As the token lost these levels, it opened the $2.5 support for testing. Currently trading close to the highlighted mark. It is only a matter of time until the barrier gets tested.

Unfortunately, we can’t turn to indicators as they are all still bearish. Why is MANA one of the cryptocurrencies to watch this week? Decentraland experienced a bearish divergence barely five days ago. However, we note that as bigger coins fail to surge, the token is known to be a safe haven for investors.

The above scenario played out last month and may likely be repeated this week. Nonetheless, we note how the bulls are currently holding $2 support. Further defense of this mark may result in the metaverse token testing $2.8 and flipping further resistance. Additionally, a slip of the $2.5 mark may send MANA as low as $$2.

4. Sandbox (SAND)

Sandbox is one of the worst-hit coins by its bearish dominance. The token hit a high of $4.46 but closed at $3.16. Opening in the past seven-day period at $4, the closing price shows a more than 20% deficit. The week ended with the Bulls plotting a comeback.

Recent attempts have failed as the metaverse token the retracement extends. SAND briefly went below its 200-day MA over the last 24 hours. However, the buyers appear to have gotten a grip on the market as the coin has gained 5% since the start of the intraday session.

The sudden turn of events during the past 24 hours has resulted in the token regaining the $3 support and gaining little stability above it. Nonetheless, SAND is down by a few percent in the weekly timeframe and is leading traders to ask if the asset will keep defying prevalent market sentiments.

Why is Sandbox one of the cryptocurrencies to watch this week? Current price movements suggest that the coin may experience more uptrends. Additionally, the metaverse token saw a bearish divergence barely five days ago. However, we note that as bigger coins fail to surge, the token is known to be a safe haven for investors.

The above statement is further proven as we observe the increase in cryptocurrency trading volume with buying pressure exceeding supply. We also note how the bulls are currently holding $3 support. Further defense of this mark may result in the metaverse token testing $3.5 and flipping further resistance. Although the grip on this level is not strong a price slip may send SAND as low as $2.8.

5. Gala (GALA)

GALA lost more than 10% last week as it opened at $0.28 and closed at $0.25. The cryptocurrency was a high of $0.36 and low of $0.24. Gala lost the 50-day MA during that time as it failed to sustain the early it had.

The fairly new project is currently exchanging at $0.23 per unit – a stark reminder that the digital asset lost critical levels during the past intraweek trading sessions. One of the key supports that was lost during that period is the $0.25 which led to further downtrend.

The last three days have seen GALA stay above $0.20 – making the mark a critical support. However, the coin is experiencing the same sentiment as the preceding cryptocurrencies, as we noticed that the cryptocurrency is down by almost 7%. Why is it one of the cryptocurrencies to watch this week?

Current price movements suggest that the coin may experience more uptrends. Additionally, the fairly new token saw a bearish divergence barely five days ago. The most recent uptrend may soon see the coin enjoy a bullish convergence.

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