The crypto market saw retracement across all boards with the crypto marketcap being rejected from its resistance of $1.2 trillion leaving top cryptos affected.
This has led to market sentiments going back to bearish with many crypto assets sitting on the key support zone. Let us focus on the top 5 cryptos you should pay attention to this week.
Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and never invest more than what you can afford to lose.
Top Crypto Price Analysis Chart –Bitcoin (BTC)
From the chart, the price of BTC was rejected from $25,200 with a bullish uptrend in a rising wedge. The rejection from the resistance led the price of BTC to break out in a downward trend.
BTC is currently trading at $21,100 at the point of writing this article. The price of BTC was unable to hold the support at $22,500 leading to a retest of lower support at $20,800.
A breakout below this $20,800 support holding the price of BTC could see the price going lower to a region of $19,000 which is seen as a demand zone for BTC prices over the weeks.
Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart
The price of Ethereum in recent weeks outperformed BTC after showing a bullish trend ahead of “The Merge,” rising to a region of $2,030.
ETH price was rejected from $2,030 with what seems to be a resistance for ETH price to trend higher. The price saw a sell-off to a region of $1,570 at the point of writing.
The price of ETH is trading below the 50 and 200 Exponential Moving Average (EMA) on the daily timeframe.
If the ETH price maintains its bearish structure, we could see the price retesting $1,300 as a key support region with high demands.
Top Crypto Price Analysis Chart –Binance Coin (BNB)
The price of BNB was rejected from its resistance of $327 and is currently trading at $296.
BNB has maintained its bullish structure despite the rejection. A break of about $290 could see the price of BNB retesting the region of $250 as support.
The price of BNB has found good support at a price of $288 which corresponds to the 50 EMA. BNB needs to hold above to have a chance of trending higher.
Price Analysis Of Trezor (TRB) On The Daily (1D) Chart
The price of Trezor has continued to show bullish trends holding well above the 50 and 200 EMA.
Despite the pullback across crypto assets in the market, TRB has continued to look strong, respecting the bullish trendline.
The price of TRB broke the resistance at $40, a close above this region could send the price to a region of $60. If TRB fails to hold the trendline acting as support, $32 is the ideal support to hold prices.
Price Analysis Of EOS On The Daily (1D) Chart
EOS has formed a bullish pattern after breaking out of a range channel and forming support at $1.4. If EOS holds this support area and as the market bounces to the upside, we could see the price of EOS retesting $1.75 acting as resistance for the price.
A break below EOS support would retest $1.26 acting as support.
Featured Image From Nairametrics, Charts From TradingView.com