In previous weeks, the crypto market looked like it was set to lose its key support with major altcoins such as Bitcoin (BTC), Ethereum (ETH), and other altcoins at the brick of losing their support area holding price sell-offs. Despite the uncertainty, some altcoins have continued to look green at the face of any litmus test. Let us discuss on top 5 cryptos you should pay attention to this week.
Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and never invest more than what you can afford to lose.
Top 5 Cryptos- Bitcoin (BTC) Price Analysis On The Daily Chart
Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com
Last week BTC saw its price decline from a region of $19,200 to $18,100 with what looked like a manipulation ahead of the Consumer Price Index news; BTC bounced from its key demand zone as price rallied to $19,600 before facing a rejection to break and hold above this region.
The price of BTC failed to close the weekly candle above $19,500, creating mixed feelings as regards its next movement and direction.
BTC is currently trading at $19,400; the price of BTC needs to break and close above $19,500 to ignite a possible price rally to a region of $20,200.
Top 5 Cryptos- Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart
Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com
The price of Ethereum in recent weeks had become a shadow of itself after the successful launch of the “Ethereum Merge” as the price had failed to show the bullish trend it had when price outperformed BTC in recent months, rallying from $1,000 to $2,024.
ETH price was rejected from $2,030 and has continued to trend lower. The price of ETH got rejected when the price attempted to flip $1,400; the price of ETH saw its price decline to a region of $1,270, acting as key support for the ETH price.
The price of ETH is trading below the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.
If the ETH price maintains its bearish structure, we could see the price retesting $1,000 as the demand zone. The price of ETH needs to flip $1,400 into support for the price to look safe.
Price Analysis Of Binance Coin (BNB) On The Daily (1D) Chart
Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com
The price of BNB was rejected from its resistance of $300 and is currently trading at $270.
BNB lost its bullish structure despite showing strength; the price of BNB got rejected to a low of $268 as the price bounced off to reclaim its support zone at $270. The price of BNB needs to rally high to a region of $280-$290 for the price to remain safe.
The price of BNB trades at $272 below the 50 and 200 Exponential Moving Averages (EMA), the values of $280 and $300 act as resistance for BNB price.
Price Analysis Of Quant (QNT) On The Daily (1D) Chart
Daily QNT Price Chart | Source: QNTUSDT On Tradingview.com
The price of QNT has continued to show bullish trends holding well above the 50 and 200 EMA. The price saw a rally from $100, forming good support around that region.
Despite the pullback across crypto assets in the market, QNT has continued to look strong, respecting the bullish trendline.
The price of QNT broke the resistance at $200, enabling the price of QNT to rally. QNT’s price faces a resistance at $260; if the price breaks this resistance, we could see the price rallying to $330, but if it fails to break the resistance, $200 would be good support for QNT price.
Price Analysis Of LEO On The Daily (1D) Chart
Daily LEO Price Chart | Source: LEOUSDT On Tradingview.com
The price of LEO recently looks bullish as price attempts to breakout above the 50 and 200 EMA, holding off the price from rallying. If the price of LEO holds above this region, we could see a price rally to $4.8
Featured image from Medium, Charts from TradingView.com