TOP 5 Cryptos To Watch This Week

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.