TOP 5 Cryptocurrencies To Watch This Week

The crypto market saw prices move from key support across all boards, with the crypto marketcap finding some relief recently as it aims to reclaim its resistance of $1.2 trillion. This has led to market sentiments returning bullish, with many crypto assets rallying from the key support and producing double-digit gains. Let us focus on the top 5 cryptocurrencies 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 Cryptocurrencies – Bitcoin (BTC) Price Analysis

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.comFrom the chart, the price of BTC was rejected from $20,400, with bulls trying to push the price above this region, acting as resistance for BTC price.

BTC is currently trading at $19,200 at the point of writing this article. The price of BTC could not break out of the ascending triangle it formed as the price continued to range in the triangle with the hopes of breaking out to the upside. The price of BTC at $18,800 continues to act as support for BTC price; a break below this price could see BTC retesting lower support of $17,700-$17,000.

A breakout above the ascending triangle could see the price rally to a high of $21,500-$22,000.

Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart

Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com

Despite the price of Ethereum in recent weeks outperforming BTC after showing a bullish trend ahead of “The Merge,” the price has faced resistance to breaking above $1,400, with the next key support at $1,000 looking more likely for price.

ETH price was rejected from $1,370 with what seems to be a resistance for ETH price to trend higher. The price saw a sell-off to a region of $1,250, with the price bouncing off this region to a high of $1,320.

The price of ETH at the point of writing is $1,325, trading below the 50 and 200 Exponential Moving Average (EMA) on the daily timeframe.

If the ETH price maintains its bearish structure, we could see the price retesting $1,200-$1,000 as a key support region with high demands.