The top three cryptocurrencies to watch this week experienced notable volatility. As a result, they registered notable changes in prices during this period. However, the general sentiment at the time was most bearish.
The global cryptocurrency market is evidence of this trend. it started the previous intraday session with valuations at $1.62 trillion. A few hours after trading started, it dropped to a low of $1.53 trillion. It soon recovered to its high.
However, towards the end of the week, the market saw small decreases. As a result, it dropped to a close of $1.57 trillion. This means the market failed to register any significant change in value.
One of the top gainers during the period under consideration was HNT. It started the session at $5. Afterward, $4.32 but rebounded and was heading for a 100% gain after breaking $9. It halted its advance at the mark and retraced.
Due to the massive corrections the coin had, it dropped to a close at $6.97. In the end, it closed with gains of more than 39%.
With a focus on the new week, the prospects are quite blurry as at this time. Let’s see how these assets perform.
Top Three Cryptocurrencies to Watch
1. Bitcoin (BTC)
The apex coin had a very bad start to the previous week. This affected its performance on the weekly scale. A closer look at the chart suggests that the asset dipped and tested key support. In the end, it closed with losses of more than 5%.
One of the main highlights of the week took place on Monday when it had its biggest dip. It started exchanging at $43,786 but experienced a massive decline. As a result, it dropped and tested the $40k support. However, it failed to break it as it rebounded and closed at $41,242. This means that the largest cryptocurrency lost almost 6% that day.
Following the massive decline. The apex coin tried reclaiming all of the levels it lost. One of the biggest moves in this direction took place on Wednesday. It kicked off the session at $41,483 but retraced to a low of $40,589. After rebound, it edged closer to the $44k resistance. It failed in this bid as it faced strong rejections at $43,440. In the end, it dropped to a close at $42,888 which signifies a more than 3% increase.
Being one of the top three cryptocurrencies to watch this week, many expect Bitcoin to perform better than it did during the previous intraweek session. Price actions during the previous intraday session may be a sign that this may happen. It reclaimed $42k and closed at $42,650 which means it gained more than 3%.
If the trend continues, BTC may test and break the $44k resistance within the next five days. It is also worth noting indicators are silent when it comes to the next price action.
In the event of a change in market conditions, one of the levels to watch is the $40k support.
2. Helium (HNT)
Helium was one of the top gainers during the previous intraweek session. A look at the weekly chart suggests that it is seeing the continuation of the previous week’s surge. However, many are becoming concerned as the uptrend is reducing. Nonetheless, the altcoin gained almost 40% during this period.
One of the highlights of the session took place on Thursday. It started the day at $5.39 but saw small decreases that sent the price to $5.16.
