Top three crypto coins to buy this week as Bitcoin looks to extend its gains
Bitcoin (BTC/USD) is approaching the key $60,000 level amid a broader recovery in the cryptocurrency universe. Investors looking for exposure to cheaper alternatives to Bitcoin on a per coin basis still have plenty of options to chose from. Here is a list of three coins you can buy now based on what their charts are flashing.
Telcoin (TEL/USD) has formed a symmetrical triangle and can break out any time soon.
The coin consolidated on its support of $0.0169 this week and this is indicating a big move that could come anytime.
However, the 200-day moving average is trending above the current price. Cautious investors may want to wait for the price of Telcoin to jump above the average along with an uptick in buying volumes. We can expect Telcoin to ride broader momentum and trade at a new all-time high in the coming weeks or months.
Fetchi.Ai (FET/USD)has made a similar structure to that of Telcoin and has already given a breakout, and it also has some great buying volumes as well.
The 200-day moving average is also supporting Fet and a great move can be expected soon. Fet was retesting the trendline on Saturday and once a reversal is seen a long position can be taken.
Fet is looking very strong thus a target of $1 could easily be achieved. Cautious investors can set a stop loss below the trendline at $0.726.
Solana (SOL/USD) is consolidating in a descending triangle and after a bullish move last week it is now pulling back. Could this be the final pullback before a push back to its all-time highs near the $200 level? Perhaps. The price has been consolidating in a very tight range which is often a sign that it is building up for a big move.
A long entry can be taken once a breakout is seen which will confirm that the momentum is back with Solana.
Moreover, when there is an increase in buying volumes, we can see it test the $200 level perhaps with ease. Nevertheless, a stop-loss can be set below the range of $130 level to prevent being caught in a false breakout.
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