coinfomania.com
The top cryptocurrencies to watch this week had a splendid performance during the previous seven-day session. They all flipped key resistance and may continue this trend.
A look at how their price movement affected the crypto market says the sector saw a lot of activity. For example, the session under consideration kicked off at $1.17 trillion. As a result of the increases in the prices of various crypto assets, the global cryptocurrency market cap gradually increased an peaked at $1.25 trillion.
This also marked the first time in more than a month the industry’s value is exceeding $1.22T. However, it retraced and dropped to a close at $1.21 trillion. Nonetheless, the valuation indicates a significant positive change in the worth of the crypto market.
It is also worth noting that fundamentals played a huge role in price action last week. One such was that Ripple gained partial victory over the United State Security and Exchange Commission.
Following this victory, the price of most altcoins, as well as BTC, went up. The price of Synthetix also hit a new peak after the announcement.
With the new intraweek session in view, the price of most cryptocurrencies may be stable as most of these asset trade with a channel. Nonetheless, let’s take a closer look at how some assets may perform.
Top Three Cryptocurrencies to Watch
BTC/USD
The previous week was marked with a lot of volatility. A closer look at the chart suggests that the apex coin saw significant gains and also massive losses. For example, the candle representing the previous seven-day session had a very small body compared to its wick.
This is an indication the top asset flipped key levels but lost them before the week ended. One such mark was the $31k resistance. BTC broke through it on Monday as it kicked off trading at $30k but gradually edged toward the mark. As a result, it peaked a little above $31,000. However, it retraced and dropped to a close at $30,421.
On Friday, following the bullish announcement, the coin under consideration broke through the highlighted barrier and moved further. After its opening at $30,383, it started an uptrend that saw it exceed its previous high and peak at $31,818. This also marked an attempt at the $32k resistance that failed. Nonetheless, it retraced to a close at $31,471 and recorded gains of more 3%.
However, it lost all of its gains during the next intraday session. It dropped below $30k ad hit a low of $29,960. It recovered and ended the day at $30,331.
Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!