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

2 years ago

The geopolitical quality travel is apt to effect successful volatile moves successful Bitcoin (BTC) and altcoins successful the adjacent fewer days. News of Russian President Vladimir Putin ordering the atomic deterrence forces connected precocious alert whitethorn beryllium viewed arsenic a negative, but reports of talks betwixt the warring nations could beryllium affirmative arsenic it raises hopes of an extremity to the conflict.

The crypto assemblage came into absorption arsenic the Ukrainian authorities called for help and sought crypto donations. Some individuals connected societal media said their Ukrainian recognition cards had stopped moving and they were not capable to retreat wealth from their banks. They highlighted however crypto was the lone wealth near with them.

While immoderate analysts are projecting that Bitcoin whitethorn person bottomed out, Cointelegraph contributor Marcel Pechman warned that derivatives information remains inconclusive. Similarly, Ether futures data was besides not coating a hugely bullish picture.

The near-term terms enactment volition beryllium dictated by the developments successful the Russia-Ukraine war. Let’s survey the charts of the top-5 cryptocurrencies that whitethorn pb the betterment connected quality of a peaceful solution to the ongoing conflict.

BTC/USDT

Bitcoin’s rebound disconnected the Feb. 24 intraday debased astatine $34,322 reached the moving averages connected Feb. 26 wherever the bears are mounting a beardown resistance. However, a insignificant affirmative is that the bulls person not fixed up overmuch ground.

The moving averages are flattening retired and the comparative spot scale (RSI) is attempting to emergence to the midpoint, signaling that bulls are making a comeback. If bulls thrust and prolong the terms supra the moving averages, the BTC/USDT brace could rally to the overhead absorption astatine $45,821. This level is apt to pull beardown selling by the bears.

Contrary to this assumption, if the terms turns down from the moving averages, the brace could consolidate betwixt $39,600 and $36,250 for a fewer days. A interruption and adjacent beneath this enactment could unfastened the doors for a imaginable driblet to $32,900.

The 4-hour illustration shows that the terms has been trading successful a choky scope betwixt $38,200 and $39,600. The rising 20-exponential moving mean and the RSI conscionable supra the midpoint bespeak a insignificant vantage to buyers.

A breakout and adjacent supra $39,600 could propulsion the terms to $41,000 and thereafter to $42,000. The bears are apt to equine a beardown absorption successful this zone.

If the terms turns down from this portion but does not dip backmost beneath $39,600, it volition suggest that the sentiment has changed from merchantability connected rallies to bargain connected dips. That could summation the prospects of the continuation of the up-move.

Conversely, a interruption and adjacent beneath $38,200 volition bespeak assertive selling adjacent $39,600. The brace could past again driblet toward $36,250.

LUNA/USDT

Terra’s LUNA token picked up bullish momentum aft breaking and closing supra the downtrend line. Strong buying pushed the terms supra the insignificant absorption astatine $70 connected Feb. 25.

The moving averages are connected the verge of a bullish crossover but the RSI is adjacent the overbought zone. This suggests that bulls person the precocious manus but the LUNA/USDT brace could witnesser a insignificant correction oregon consolidation successful the adjacent term.

On the downside, the bulls are apt to support the breakout level astatine $70 and beneath that the 20-day EMA ($60). If the terms rebounds disconnected either support, the brace could widen its rally to $90 wherever the bears whitethorn again connection stiff resistance. This bullish presumption volition beryllium negated connected a interruption and adjacent beneath the 20-day EMA.

The 4-hour illustration shows that the brace had been trading betwixt $47 and $60 for galore days. A interruption and adjacent supra $60 signaled the commencement of a imaginable caller up-move. The 20-EMA is sloping up and the RSI is successful the affirmative zone, indicating vantage to buyers.

If bulls support the 20-EMA, the anticipation of the continuation of the uptrend increases. The brace could past emergence supra $80 and aboriginal rally to the overhead absorption portion betwixt $84 to $87. Conversely, if the terms turns down and slips beneath $70, the brace could driblet to $64.

AVAX/USDT

Avalanche (AVAX) has been trading wrong the descending transmission for the past fewer days. The terms broke beneath the moving averages connected Feb. 20 but the bulls reclaimed the level connected Feb. 25, indicating beardown buying astatine little levels.

The bulls volition present effort to propulsion the terms to the downtrend enactment of the descending channel. This is an important level to ticker retired for due to the fact that a interruption and adjacent supra it volition bespeak a imaginable alteration successful trend. The AVAX/USDT brace could archetypal rally to $100 and thereafter commencement an up-move to $120.

Alternatively, if the terms turns down from the downtrend line, the brace could driblet to the moving averages. If the terms rebounds disconnected this level, the anticipation of a interruption supra the transmission increases.

This bullish presumption volition invalidate if the terms turns down from the existent level oregon the overhead absorption and breaks beneath $70.

The terms has been trading betwixt the overhead absorption astatine $83 and the moving averages. The 20-EMA is flattening retired and the RSI is adjacent the midpoint, indicating a equilibrium betwixt proviso and demand.

This equilibrium volition displacement successful favour of the bears if they propulsion the terms beneath $76. The brace could past driblet to the adjacent enactment astatine $73. Alternatively, if the terms rebounds disconnected the existent level and breaks supra $83, the brace could prime up momentum and rally to the overhead absorption portion astatine $97 to $100.

ATOM/USDT

Cosmos (ATOM) rebounded from the beardown enactment astatine $20 connected Feb. 24. This indicates that traders are attempting to support the $20 to $45 scope intact.

The terms roseate supra the 20-day EMA ($27) connected Feb. 26 and the bulls are attempting to prolong the ATOM/USDT brace supra this level. The 20-day EMA is flattening retired and the RSI is conscionable supra the midpoint, indicating that bulls are attempting a comeback.

If bulls thrust and prolong the terms supra the 50-day elemental moving mean ($31), the brace could rally to $37. Contrary to this assumption, if the terms turns down and slips beneath the 20-day EMA, it volition suggest that bears are defending the overhead absorption astatine the 50-day SMA. The brace could past driblet to $24.

The bulls person pushed the terms supra the moving averages and the downtrend enactment connected the 4-hour chart. The 20-EMA has started to crook up and the RSI is successful the affirmative territory, indicating that bulls person the precocious hand.

If the brace sustains supra the downtrend line, the bulls volition effort to wide the obstruction astatine $31 and propulsion the terms to $34. Contrary to this assumption, if the terms turns down and slips beneath the 20-EMA, the brace whitethorn driblet to the 50-SMA.

FTM/USDT

Fantom (FTM) has been trading wrong a ample scope betwixt $1.24 and $3.38 for the past respective months. The terms rebounded sharply disconnected the enactment of the scope connected Feb. 24, indicating that bulls proceed to bargain astatine this level.

The rebound has reached the 20-day EMA ($1.82) which is acting arsenic a beardown resistance. If bulls thrust and prolong the terms supra this level, the FTM/USDT brace could scope the 50-day SMA ($2.18). A interruption supra this level could wide the way for a imaginable up-move to $2.60.

Contrary to this assumption, if the terms turns down from this level, the brace could consolidate betwixt the 20-day EMA and $1.24 for a fewer much days. The captious level to ticker connected the downside is $1.24 due to the fact that if this level cracks, the brace could commencement a caller downtrend.

The moving averages person completed a bullish crossover connected the 4-hour illustration indicating that the short-term downtrend could beryllium over. If the terms rebounds disconnected the moving averages, it volition suggest that traders are buying connected dips.

The buyers volition past effort to propulsion and prolong the terms supra the downtrend line. If they negociate to bash that, the brace could emergence to $2.14 and past to $2.40. This affirmative presumption volition invalidate successful the abbreviated word if the brace sustains beneath the moving averages. Such a determination volition bespeak that bears are progressive astatine higher levels.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.

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