The Crypto market has been filled with different sentiments lately. Nonetheless, many cryptos are closing the week in the green. As the week comes to a close, many cryptocurrencies are bullish. BTC is looking to reclaim $46k as BNB aims for $430.
The last seven days have seen a fair amount of positivity as bitcoin is officially one of El Salvador legal tender and top bank are accepting the coin to ease its usage. Will BTC and alts pick up momentum as we head for a new week? Let’s look at the prospects of eight cryptos.
The king coin failed to excite on El Salvador “Bitcoin day” due to the unexpected price correction it faced. BTC fell to $42,900 crushing the $43k support. The largest crypto is currently trading at $45,800. The last five days as seen the $44k support held out against attacks but the buyer will aim at resuscitating the upward trajectory of the coin.
The bulls will try to rally the coin to $52,000. Price movement has shown that there are two critical resistance standing in the way; the $48k and $52k. Based on recent price performance, the $48k resistance is one tough obstacle as BTC have found it hard to surge above it and hold on to it without many attempts.
$50k is another critical resistance. A flip of this resistance will gear bitcoin up for an attempt to test $52k. RSI is gradually gaining momentum as it’s slightly bullish. If the king coin is unable to stay off bearish sentiment, then it may be at risk of dipping as low as $42k in the coming days.
The Binance token has been a little dull recently. It also faced the massive correction that plague the market. The coin was well on its way to $510 following its triumph over $500. The triumph was short-lived as BNB dipped as low as $380. Recovery is underway as the coin is trading at $415.
The bulls are looking forward to taking profit at $500. To achieve this, a surge to flip $480 will increase the chances of getting the coin to the highlighted mark. A failure to start the rally may result in BNB sinking to $380. The bulls are ready to take profit soon as RSI shows an increase in buying pressure.
Polkadot is one of the few coins to quickly recover from the “bitcoin day” happenings. The coin dipped as low as $22 during the correction. The bulls were quick to recover and reignite the uptrend. A few minutes to the time of writing DOT attained a new 90-days high at $35.03 and is slipping into bearish dominance.
Polkadot must retest $35 to continue the uptrend. Many predictions are aiming at $40 and there is a lot of resistance to this course. Aside from retesting $35, the bulls also take care not to leave any space for bearish dominance as the $38 resistance is a very strong one and may take repeated attempts to flip it. The Relative Strength Index shows the buyers unwavering faith in the coin as it has been on the rise for more than five days.
Following the massive drop on September 7, DOGE has been on a downtrend. The current situation with Dogecoin is a clear indication that many traders who took profit earlier are yet to return to the market.
For now, the $0.23 support is the strongest in preventing further price drop. The inability of the bulls to reignite the uptrend has resulted in the coin delay in regaining $0.3. The slight change in the movement of RSI is hinting a possible resuscitation of the upward trajectory.
Terra hit a new all-time high two days ago and thrilled every faction of traders in the market. The bears are more excited as they capitalised on the bears taking profit; bringing the coin down to its second day of loss.
After hitting $45 in the last 24 hours, LUNA has been on free fall. RSI is also taking a dip in selling pressure mounts. It’s hard to find strong support following the recent hike in price but the coin has held on to the $32 mark in recent times.
Uniswap has had one of the most volatile weeks lately. The coin recorded a high of $30.28 and a low of $20 over the last seven days. Accordingly, UNI is about to close the week at a 16% loss.
Uniswap is struggling to resume its uptrend a drop of $21. It has also been on a downtrend for more than four days which has resulted in the coin inability to sustain the $22 support. Amidst the price instability, the $21 mark held out pretty and for more than four days now.