Top 5 cryptocurrencies to watch this week: BTC, LUNA, AVAX, ATOM, FTM


Crypto markets are anticipated to stay risky for the foreseeable future, however BTC’s battle to reclaim $40,000 may very well be adopted with rallies from LUNA, AVAX, ATOM and FTM.

The geopolitical information move is more likely to end in risky strikes in Bitcoin (BTC) and altcoins within the subsequent few days. Information of Russian President Vladimir Putin ordering the nuclear deterrence forces on excessive alert could also be seen as a detrimental, however reviews of talks between the warring nations may very well be optimistic because it raises hopes of an finish to the battle.

The crypto group got here into focus because the Ukrainian authorities referred to as for assist and sought crypto donations. Some people on social media mentioned their Ukrainian bank cards had stopped working and so they weren’t capable of withdraw cash from their banks. They highlighted how crypto was the one cash left with them.

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Crypto market information each day view. Supply: Coin360

Whereas some analysts are projecting that Bitcoin could have bottomed out, Cointelegraph contributor Marcel Pechman warned that derivatives information stays inconclusive. Equally, Ether futures information was additionally not portray a massively bullish image.

The near-term value motion shall be dictated by the developments within the Russia-Ukraine warfare. Let’s examine the charts of the top-5 cryptocurrencies which will lead the restoration on information of a peaceable decision to the continued battle.

BTC/USDT

Bitcoin’s rebound off the Feb. 24 intraday low at $34,322 reached the shifting averages on Feb. 26 the place the bears are mounting a robust resistance. Nonetheless, a minor optimistic is that the bulls haven’t given up a lot floor.

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BTC/USDT each day chart. Supply: TradingView

The shifting averages are flattening out and the relative energy index (RSI) is trying to rise to the midpoint, signaling that bulls are making a comeback. If bulls drive and maintain the worth above the shifting averages, the BTC/USDT pair may rally to the overhead resistance at $45,821. This stage is more likely to entice sturdy promoting by the bears.

Opposite to this assumption, if the worth turns down from the shifting averages, the pair may consolidate between $39,600 and $36,250 for a number of days. A break and shut beneath this assist may open the doorways for a potential drop to $32,900.

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BTC/USDT 4-hour chart. Supply: TradingView

The 4-hour chart reveals that the worth has been buying and selling in a good vary between $38,200 and $39,600. The rising 20-exponential shifting common and the RSI simply above the midpoint point out a minor benefit to consumers.

A breakout and shut above $39,600 may push the worth to $41,000 and thereafter to $42,000. The bears are more likely to mount a robust resistance on this zone.

If the worth turns down from this zone however doesn’t dip again beneath $39,600, it’s going to counsel that the sentiment has modified from promote on rallies to purchase on dips. That might enhance the prospects of the continuation of the up-move.

Conversely, a break and shut beneath $38,200 will point out aggressive promoting close to $39,600. The pair may then once more drop towards $36,250.

LUNA/USDT

Terra’s LUNA token picked up bullish momentum after breaking and shutting above the downtrend line. Robust shopping for pushed the worth above the minor resistance at $70 on Feb. 25.

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LUNA/USDT each day chart. Supply: TradingView

The shifting averages are on the verge of a bullish crossover however the RSI is close to the overbought zone. This means that bulls have the higher hand however the LUNA/USDT pair may witness a minor correction or consolidation within the close to time period.

On the draw back, the bulls are more likely to defend the breakout stage at $70 and beneath that the 20-day EMA ($60). If the worth rebounds off both assist, the pair may lengthen its rally to $90 the place the bears could once more provide stiff resistance. This bullish view shall be negated on a break and shut beneath the 20-day EMA.

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LUNA/USDT 4-hour chart. Supply: TradingView

The 4-hour chart reveals that the pair had been buying and selling between $47 and $60 for a lot of days. A break and shut above $60 signaled the beginning of a potential new up-move. The 20-EMA is sloping up and the RSI is within the optimistic zone, indicating benefit to consumers.

If bulls defend the 20-EMA, the opportunity of the continuation of the uptrend will increase. The pair may then rise above $80 and later rally to the overhead resistance zone between $84 to $87. Conversely, if the worth turns down and slips beneath $70, the pair may drop to $64.

AVAX/USDT

Avalanche (AVAX) has been buying and selling contained in the descending channel for the previous few days. The worth broke beneath the shifting averages on Feb. 20 however the bulls reclaimed the extent on Feb. 25, indicating sturdy shopping for at decrease ranges.

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AVAX/USDT each day chart. Supply: TradingView

The bulls will now try to push the worth to the downtrend line of the descending channel. This is a crucial stage to be careful for as a result of a break and shut above it’s going to point out a potential change in pattern. The AVAX/USDT pair may first rally to $100 and thereafter begin an up-move to $120.

Alternatively, if the worth turns down from the downtrend line, the pair may drop to the shifting averages. If the worth rebounds off this stage, the opportunity of a break above the channel will increase.

This bullish view will invalidate if the worth turns down from the present stage or the overhead resistance and breaks beneath $70.

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AVAX/USDT 4-hour chart. Supply: TradingView

The worth has been buying and selling between the overhead resistance at $83 and the shifting averages. The 20-EMA is flattening out and the RSI is close to the midpoint, indicating a stability between provide and demand.

This stability will shift in favor of the bears in the event that they pull the worth beneath $76. The pair may then drop to the subsequent assist at $73. Alternatively, if the worth rebounds off the present stage and breaks above $83, the pair may choose up momentum and rally to the overhead resistance zone at $97 to $100.

Associated: Terra’s Mirror Protocol MIR rebounds 40% two days after crashing to document low

ATOM/USDT

Cosmos (ATOM) rebounded from the sturdy assist at $20 on Feb. 24. This means that merchants are trying to maintain the $20 to $45 vary intact.

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ATOM/USDT each day chart. Supply: TradingView

The worth rose above the 20-day EMA ($27) on Feb. 26 and the bulls are trying to maintain the ATOM/USDT pair above this stage. The 20-day EMA is flattening out and the RSI is simply above the midpoint, indicating that bulls are trying a comeback.

If bulls drive and maintain the worth above the 50-day easy shifting common ($31), the pair may rally to $37. Opposite to this assumption, if the worth turns down and slips beneath the 20-day EMA, it’s going to counsel that bears are defending the overhead resistance on the 50-day SMA. The pair may then drop to $24.

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ATOM/USDT 4-hour chart. Supply: TradingView

The bulls have pushed the worth above the shifting averages and the downtrend line on the 4-hour chart. The 20-EMA has began to show up and the RSI is within the optimistic territory, indicating that bulls have the higher hand.

If the pair sustains above the downtrend line, the bulls will try to clear the barrier at $31 and push the worth to $34. Opposite to this assumption, if the worth turns down and slips beneath the 20-EMA, the pair could drop to the 50-SMA.

FTM/USDT

Fantom (FTM) has been buying and selling inside a wide variety between $1.24 and $3.38 for the previous a number of months. The worth rebounded sharply off the assist of the vary on Feb. 24, indicating that bulls proceed to purchase at this stage.

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FTM/USDT each day chart. Supply: TradingView

The rebound has reached the 20-day EMA ($1.82) which is performing as a robust resistance. If bulls drive and maintain the worth above this stage, the FTM/USDT pair may attain the 50-day SMA ($2.18). A break above this stage may clear the trail for a potential up-move to $2.60.

Opposite to this assumption, if the worth turns down from this stage, the pair may consolidate between the 20-day EMA and $1.24 for a number of extra days. The essential stage to look at on the draw back is $1.24 as a result of if this stage cracks, the pair may begin a brand new downtrend.

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FTM/USDT 4-hour chart. Supply: TradingView

The shifting averages have accomplished a bullish crossover on the 4-hour chart indicating that the short-term downtrend may very well be over. If the worth rebounds off the shifting averages, it’s going to counsel that merchants are shopping for on dips.

The consumers will then try to push and maintain the worth above the downtrend line. In the event that they handle to do this, the pair may rise to $2.14 after which to $2.40. This optimistic view will invalidate within the quick time period if the pair sustains beneath the shifting averages. Such a transfer will point out that bears are energetic at greater ranges.

The views and opinions expressed listed here are solely these of the creator and don’t essentially mirror the views of Cointelegraph. Each funding and buying and selling transfer entails danger, it is best to conduct your personal analysis when making a choice.

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