The Top 5 cryptocurrencies for this week
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During the weekend, Bitcoin (BTC) as well as many altcoins are trading in a narrow range, indicating that investors are undecided about the next directional move. Bitcoin is about to test the $40,000 level depending on Wall Street’s interest during the upcoming session. Wall Street will have a huge effect if they open flat Monday then what happens next might be scary. You could expect BTC to spike above the $40k mark if APE breaks out at a resistance level at around 2154 satoshis. Traders might expect Wall Street to start before making extensive directional bets. But what have been the best cryptocurrencies heading into the new week? Let’s run through the top cryptocurrencies for the coming days from the best POS coins for this week to the more obscure risers:
Bitcoin (BTC)
Bitcoin remains the best cryptocurrency and it’s the biggest and most well-known. Bitcoin has been incredibly stable this past month. BTC went under the psych support level of $40,000 on April 22, however, even with that, there seems to be no bearish trend to capitalize on this movement. This level seems to be a good buy point for bulls, as Bitcoin tends to do better when it stays relatively flat. The big question mark on Bitcoin’s horizon is whether or not the bulls can keep this level up and if they are able to sustain it through what may be a choppy week ahead in the crypto market.
The rise and fall appear to be undecided, as evidenced by consecutive inside-day candlestick movements in the last two days. The 20-day EMA that is beyond $41,000 is slanting downward, and the RSI is negative, implying that sellers possess a slight advantage. If bears continue to push the crypto price under $39,000, the BTC/Tether (USDT) pair might fall to the upward channel’s support line. This amount is supposed to be fiercely defended by the bulls.
If the price returns violently from the support line, it suggests that there is a huge market at lower levels. To reflect that the adjustment may be over, the bulls must maintain a value that goes more than the SMA of near $42,000. The duo could then endeavour to rally to the 200-day simple moving average of $47,828. Hence, when it comes to BTC this week, it might be a good choice to buy crypto.
Polkadot (DOT)
Polkadot is already buying and selling next to the ceiling resistance level of $19 in recent days. This indicates that the drops successfully managed to defend the level, but a slight plus is that the rise hasn’t given up anything significant to the sellers. DOT is already one of the rising and best cryptocurrencies. Due to this fact, it’s one of the best cryptocurrencies to invest in too.
Dotcoin has been trending in the red this past month, and the reason for this is that Dotcoin’s main attraction (aside from Bitcoin) is its usage as a payment system. As Bitcoin and other cryptocurrencies become more well-known, the number of people who buy crypto – Dotcoin – has decreased. This could mean trouble for DOT coin if it can’t find a way to regain users and get back on track in the near future.
Bears possess a slight advantage, as evidenced by Polkadot’s 20-day EMA’s fall to $19 and the RSI being in a negative area. The risk of a fall to the strong support at $16 rises if the value declines and breaks below $18.
Monero (XMR)
Monetero is currently one of the best cryptocurrencies to invest in when talking about crypto prices in the crypto exchanges like redot.com. XMR is going in an upward direction and Its value on the crypto market has fallen from $290 in the last few days (April 22), denoting that there is a more potent threat of bearish outcomes to be close to the psych level of $300. This is intriguing because XMR uses cryptography to create a “privacy coin”. This means that the identities of people or organizations who own XMR are not known publicly, making it popular among those who want to keep their financial dealings private.
The XMR/USDT pair may first fall to the 20-day EMA of $245, which is expected to behave as a huge backing. If the value bounces back strongly from this level, it’ll reveal that bulls are trying to buy on declines. The duo may then try to break over the ceiling resistance at $300 once more. If this occurs, the pair could rise to $340.
ApeCoin (APE)
ApeCoin escaped the symmetrical triangle sequence a few days ago, pointing at the tug of war between the bulls and bears. This meant that the true winners in this platform were the investors. APE has also seen a lot of growth this past month and looks to be heading for positives soon if the bulls are able to sustain this level. APE is based on Bitcoin but with some upgrades including faster transactions and the use of a unique algorithm to prevent 51% attacks.
The 20-day EMA of about $13.70 has happened. With the RSI being green, this points to the possibility that the rise is in control. There’s a mild impedance level at $18.44, which is where the APE/USDT pair reversed a couple of days ago.
PancakeSwap (CAKE)
Rounding up the top cryptocurrencies is PancakeSwap. Looking at the top cryptocurrencies of this week, PancakeSwap is one of the healthier options. CAKE has lately rebounded off the bearish divergence line, inferring that the bulls have converted the level into financial backing. The valuation has broken beyond the 20-day EMA and is aiming to find the 200-day SMA of $11.52. If PancakeSwap is able to maintain this upswing and break the $11.52 barrier, it may be gearing up for a long-term bull run.
The EMA within 20 days relative to CAKE is $8.69 and the 50-day SMA is $7.71. These have both risen steadily, and the RSI is optimistic, indicating that bulls are in the driving seat for this coin. If purchasers push the price higher than the 200-day SMA, the CAKE/USDT pair may ascend to $13.50 and then to $15.
