Top Five Cryptocurrency to Watch This Week (Apr 22)

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With the halving over, the cryptocurrency market is picking up momentum. As a result, several cryptocurrencies are on the uptrend as they return to their fourteen-day high. One such is HBAR . The asset gained over 50% in the last seven days.

The global cryptocurrency market cap gained over 5% during this period as it is currently worth $2.45 trillion. The industry enjoyed a lot of attention as several bullish fundamentals made the news. One such is that post-halving, Bitcoin will see a huge demand increase.

The apex coin is consolidating gains at this time. As a result, some alts are seeing a significant boost. Will it last through the week?

Top Five Cryptocurrencies

1. Bitcoin (BTC)

Thursday marked the start of the current uptrend BTC is experiencing. Following small pauses, it reclaimed $66k. The coin added $1,900 which was almost 3% during the previous intraday session as it returned to the level.

However, the previous day’s action reveals an emerging price pattern. Since the uptrend started, bitcoin had one day of little or no price changes, followed by one with notable improvement in price. If this holds, it will experience another bullish performance in the next 24 hours. The largest cryptocurrency will attempt its pivot point at $68,131.

The moving average convergence divergence is printing bullish signals. At the time of writing, the 12-day EMA is in contact with the 26-day EMA. With an impending bullish divergence on the horizon, the coin is set for further climb. The histogram associated with matric shows that the bears have almost lost initiative on the BTC as there is almost no selling pressure.

A few hours ago, many observers were shocked to see Grayscale only sold one bitcoin today. With one of the biggest sellers reducing its volume, the apex coin will register another notable move within the next five days.

2. Ethereum (ETH)

Ethereum is printing a doji at the time of writing. It is currently struggling at $3,200 after it peaked at $3,260. The candle and price action illustrated the continuation a trend of a day with significant move and another with a doji. The trend has been in play since last Thursday and may continue as indicators are hinting further price increases.

The doji also suggests that the altcoin is gearing up for a surge as MACD’s histogram flipped fully bullish with the first green bar in over seven days. However, ETH trading volume is down by over 7% in the last 24 hours. Nonetheless, MACD is displaying an incomplete bullish divergence which puts the bulls at an advantage. ¬†Although below 50, RSI is also on the rise and is at 47 .in response to buying pressure

The coin is currently trading at a critical level. The $3,200 served as a critical support where the bulls built demand concentration previously. Since losing it, the bears are staging selloff around the mark. Flipping and gaining stability above the said mark will result in an attempt at $3,400. However, there are strong indications of a small demand shock taking above $3,300.

3. Binance Coin (BNB)

Binance coin is on a bullish streak and has been on the uptrend since Thursday. As a result, it gained 15% over the last five days. However, it is unable to continue the uptrend despite the over 6% increase in trading volume over the last 24 hours.

RSI points to a small increase in selling volume as the culprit for the current price action as the coin is printing a doji. The candlestick may also be an indication of an impending downtrend as the bulls agree grinding to a halt. Additionally,  the asset is printing a bear flag following its previous trend.

The question is if the coin has peaked and if the declines will start this week. MACD is printing buy signals at this time. In response to the growing demand in the market, the histogram flipped green. Aside from MACD’s histogram, the 12-day EMA and 26-day EMA are diverging following a bullish convergence.

These are indications of the continuation of the bullish action. Per previous price movement, BNB retraced from a resistance it flipped once in the last fourteen days. The bulls will look to flip this mark and attempt to gain stability above $625. This is another critical level where the bears stage significant selloffs. Nonetheless, breaking above this mark will guarantee a retest of $650.

However, Fibonacci retracement is pointing to a possible recline to $574.

4. Avalanche (AVAX)

Avalanche experienced significant price increases over the last seven days. As a result, it is up by over 15% over this period. There was no indication of fundamentals playing any significant role in the surge, which means it experienced the same bullish sentiment the crypto market saw at the time.

With a mixed general sentiment, AVAX is printing a red candle as it is down by over 2% in the last 24 hours. Using the Fibonacci retracement to draw up support and resistance, the coin will look to gain stability above $39 and attempt $40 within the next five days. However, RSI is on the downtrend and at 43, placing the bears at an advantage and hinting at mounting selling pressure.

Fibonacci retracement is hinting at a possible drop to $33. This will happen if the bulls fail to defend the $36 support.

On the other hand, the moving average convergence divergence is printing buy signals at this time. The metric shows the asset had a bullish divergence which will result in further uptrends. MACD’s histogram is also on the bullish side as it is green.

5. Pepe (PEPE)

PEPE is currently up by more than 15%. Since Thursday, it has been on an uptrend and gained over 50% in the last six days with a prospect seeing more increases. The current intraday session is a continuation of the price climb.

The altcoin is up by over 11% following a 15% surge during the previous day. However, MACD is hinting at more increases. The indicator shows that the asset had a bullish divergence a few days ago. With RSI still on the uptrend, the bulls are gearing up for more uptrends.

Having gained stability above the 0.0000077, the coin will to retest $0.0000090 within the next five days. However, a change in market trajectory will send it trading as low as $0.0000066.