Top Four Cryptocurrencies to Watch This Week: BTC, ADA, EOS, GMT.

Closing the past week at $1.8 trillion, many will agree that the crypto market failed to excite as most cryptocurrencies lost some percent during this period. It saw a very little uptrend as the bearish grip on the market tightened as soon as the intraweek session opened.

Many would expect a change in market sentiment following two seven-day sessions without any uptrend. Unfortunately, the increase in value never came as the market was hit by more corrections.

The decrease in the global cryptocurrency market cap is as a result of the inability of major crypto assets to surge. However, market trends are changing and the bulls are seeing the spotlight as at the time of writing. The total valuation of the crypto industry is back above $1.9 trillion and is showing signs of further uptrends.

The reason for the in market sentiment is unclear. Nonetheless, there have been reports of small bullish stories. The top 100 coins by market cap is lit with more greens as most digital assets are up by a few percent.

Source: Coin360

The image above further expresses the current state of the market. We observed that the most recent increase in Bitcoin price have resulted in it regaining it market dominance. Solana has also gone up by more than 6% over the last 24 hours.

Will BTC continue to rise, will the crypto market see further uptrends? These are some of the questions on every traders’ mind. Here are the top four cryptocurrencies to watch this week.

Top Four Cryptocurrencies to Watch

BTC/USD

Last week, the apex coin closed, losing more than 5%. The period opened with the asset trading at $42,10o and closed at $39,691. Following the trading activities that took place over the previous seven-day timeframe, several indicators maintained their bearish status with no signs of recovery.

For example, bitcoin came very close to being oversold on Monday as the Relative Strength Index (RSI) dipped as low as 35 but recovered the next day. BTC was not out of the danger zone as the said indicator was stable at 40.

The apex coin also exchanged below its pivot point and was close to testing its first pivot support as it was trading close to the mark. Additionally, the largest cryptocurrency ended the week below its Displaced Moving Average (DMA), which adds to the bad vibe surrounding the asset.

The current intraweek kicked off with a little twist. BTC hit its lowest in more than 14 days during the previous intraday session but recovered as the bulls rallied the market at $38,500. The increase in price is also seen in the current session.

Bitcoin is looking promising as the Moving Average Convergence Divergence (MACD) suggests that the coin will experience a bullish convergence within the next two day. A divergence is soon to follow which may indicate the continuation of price increases.

Although up by a few percent, RSI is on the rise and will be above 50 if the current momentum is maintained. Additionally, we also observed that bitcoin is also gaining more stability above its first pivot support.

The coin will look to retest its pivot point at $43,640. However, there are several levels to watch. For example, the asset under consideration must flip the $42,200 resistance that has remained untouched for more than eight days.

Maintaining the same trajectory, the cryptocurrency may retest $44k. Nonetheless, a change in market may result in BTC dipping as low as $39,000.

ADA/USD

Cardano is one of the top losers in the top 10 last week. It also dropped on the market cap ranking as it is currently the ninth largest coin. It opened above $1 but closed at $0.91. The distance between the opening price and closing suggests it lost 10% during the previous intraweek session.

Like most cryptocurrencies, several indicators played out against ADA. One such indicator is RSI. It dipped as low as 38 but recovered the next day. The coin was not off the hook as the said metric closed at 48.

Cardano also exchanged below its pivot point and was close to testing its first pivot support as it was trading close to the mark. Additionally, the cryptocurrency ended the week below its Displaced Moving Average (DMA).

The start of the current intraweek session was filled with fear as ADA experienced fierce downtrends. It hit its lowest in more than 14 days during the previous intraday session but recovered as the bulls rallied the market at $0.87. The increase in price is also seen in the current session.

Market fundamentals are tilting in favor of the bulls. It was earlier announced that the coin chain is hosting a play to earn game. This will increase buying pressure and push prices up.

Additionally, MACD shows that the coin may experience a bullish convergence that will soon be followed by a divergence. ADA will look to retest its pivot point at $1. However, there are several levels to watch. For example, the asset under consideration must flip the $0.98 resistance that has remained untouched for more than eight days.

Maintaining the same trajectory, the cryptocurrency may retest $1. Nonetheless, a change in market may result in ADA dipping as low as $0.91.

EOS/USD

EOS is one of the few coins in the top 100 to close with notable increases from last week. It also moved up the market cap ranking as it is currently the 47th largest coin. It opened at $2.3 but closed at $2.41. The distance between the opening price and closing suggests it gained almost 3% during the previous intraweek session.

The token no doubt experienced a lot volatility, but like most cryptocurrencies, several indicators played out against EOS. One such indicator is RSI. It dipped as low as 36 but recovered the next day. The coin was not off the hook as the said metric closed at 48.

Eos also exchanged below its pivot point and was close to testing its first pivot support as it was trading close to the mark. Additionally, the cryptocurrency ended the week below its Displaced Moving Average (DMA).

Minimal trading volume was seen during the previous intraday session. Nonetheless, it saw little corrections that was halted and erased the incurred losses as the bulls rallied the market. It hit its lowest in more than 4 days during the previous intraday session but recovered as the bulls rallied the market at $2.29.

The increase in price is also seen in the current session. However, an even larger sellers’ congestion took place earlier today as the asset dipped below $2. Nonetheless, it is up by almost 8% and have hit a high of $2.69.

Additionally, MACD shows that the coin may experience a bullish convergence that will soon be followed by a divergence. EOS will look to retest its first pivot resistance at $3.37. However, there are several levels to watch. For example, the asset under consideration must flip the $2.8 resistance that has remained untouched for more than 14 days.

Maintaining the same trajectory, the cryptocurrency may retest $3.5. Nonetheless, a change in market may result in eos dipping as low as $2.3.

GMT/USD

Stepn is one of the few coins in the top 100 to close, with notable increases from last week. It also moved up the market cap ranking as it is currently the 51st largest coin. It opened at $2.26 but closed at $2.42. The distance between the opening price and closing suggests it gained almost 8% during the previous intraweek session.

The asset has been in high demand and has enjoyed increased buying pressure. The Relative Strength Index (RSI) shows that GMT enjoyed increased trading volume over the previous intraweek session and was treading close to 70 and close above the mark.

Stepn also exchanged above its pivot point and was close to testing its first pivot resistance as it was trading close to the mark. Additionally, the cryptocurrency ended the week above its Displaced Moving Average (DMA).

The start of the current intraweek session was filled with massive surges as GMT gained more than 30% at the time.. The gradual uptrend saw the token flipped the $3 resistance and also gained stability above it. The increase in price is also seen in the current session.

Additionally, MACD shows that the coin is experiencing a bullish convergence that will soon be followed by a divergence. GMT will look to retest its second pivot resistance at $4.2.

However, there are several levels to watch. For example, the asset under consideration must flip the $4 resistance that has remained untouched since the coin introduction to the market.

Maintaining the same trajectory, the cryptocurrency may retest $4.5. Nonetheless, a change in market may result in stepn dipping as low as $3.

 

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  • bitcoinBitcoin (BTC) $ 18,999.68 0.36%
  • ethereumEthereum (ETH) $ 1,312.79 1.82%
  • bnbBNB (BNB) $ 275.60 1.57%
  • xrpXRP (XRP) $ 0.501537 5.03%
  • solanaSolana (SOL) $ 33.20 1.39%
  • terra-luna-2Terra (LUNA) $ 2.40 6.82%