Analysis

5 Top Cryptos to Watch This Week: Bull Market Alert

Jim Haastrup

Key Insights

  • The crypto market appears to be heating up, with Bitcoin potentially reaching new highs.
  • Arweave (AR) is up 113% in the last week, potentially breaking resistance and reaching $44 this week.
  • Shiba Inu (SHIB) is up 128% last week, facing resistance at $0.00002353 and could possibly reach $0.00002955.
  • Theta Network (THETA) was up 80% last week and needs to break the $2.3 resistance for a potential 56% rally to $3.6.
  • Axie Infinity (AXS) was up 26% last week and might be poised for a 60% rally to $16.3 if it holds above $9.6 support.

If you aren't in profit yet, then don't worry.

From the looks of things, it appears that the crypto market is heating up again, after a harrowing bear market, and Bitcoin appears more poised than ever to hit and even break its all-time high.

In the meantime, there may be a few altcoins to keep an eye out for as an investor, particularly in the coming week.

Let's go over the first:

1. Arweave ($AR)

Arweave has been bullish for weeks now.

According to data from CoinMarketCap, the cryptocurrency has more than doubled in the last week, as shown by the snapshot below:

Arweave's price performance | Source: CoinMarketCap

The cryptocurrency has rallied by a staggering 113% in the past week, showing intense strength on the part of its bulls.

According to the charts, Arweave's bullishness has been so intense over the past week, that the cryptocurrency has broken through the upper Bollinger band on its daily chart.

Arweave's bullishness

The chart above also shows that the cryptocurrency is attempting a break above its $30.8 resistance, and could be on the verge of a breakout.

According to the charts, Arweave was last seen above this resistance around April 2022, and if we see a sustained break above this price resistance, Arweave might be poised to retake $44 this week.

2. Shiba Inu ($SHIB)

Shiba Inu needs no introduction when it comes down to bullishness.

CoinMarketCap data shows that the cryptocurrency is up by a staggering 128% over the last week. This means that just like Arweave, Shiba Inu has nearly doubled in the same timeframe.

Shiba Inu's price action

The cryptocurrency now trades at $0.0000219 and has broken through the $0.00001 resistance many times over.

In the charts, we can see Shiba Inu's unparalleled rally.

Shiba Inu's price action

However, we can also see that the bears are strong around the $0.00002353 resistance, and have managed to bring SHIB into a reversal from here.

We can expect the price of SHIB to range from anywhere between $0.00002353 and $0.000018, before a possible breakout that takes the cryptocurrency straight up to around $0.00002955.

3. Theta Network ($THETA)

Theta Network has also gone parabolic on a massive scale, raking in as much as 80% over the last week, as shown below:

Theta's price

According to the charts, it appears that Theta is slicing through its resistances like a hot knife through butter.

However, there might be some turbulence around $2.3, as shown below.

Theta in the charts

In essence, the key resistance to watch out for on Theta would be the $2.3 zone, because if we see a break above this week, the cryptocurrency would have everything it needs to rally p by another 56% to the $3.6 zone.

4. Axie Infinity ($AXS)

What's a gainer list without a gaming token?

Axie Infinity hasn't been as bullish as the others so far, but we could be about to witness something massive.

Axie Infinity's price

The snapshot above shows that Axie Infinity has only gone up by a meagre 26% over the last week.

The charts, however, show something different.

Axie Infinity's price performance

Axie Infinity broke above its previous local high of around $11.15 just fine, over the last week.

However, instead of the massive rally investors expected, the bears arrested things around #11.58, and have successfully brought the cryptocurrency into a retest of $9.6.

This is showing signs of a delayed reaction to the most recent breakout.

In essence, the breakout move remains valid as long as we do not see an Axie Infinity break below $9.6.

With this being said, Axie Infinity remains poised for a massive 60% rally, straight up to $16.3 or even higher.

5. Gala ($GALA)

Gala has also been very bullish over the last week.

More bullish than Axie Infinity, but less than Arweave, Shiba Inu and Theta Network.

According to data from CoinMarketCap, Gala has gone up by around 46% over the last week, as shown below:

Gala's price

According to the charts, Gala appears to be having some trouble with the $0.049 resistance.

Gala in the charts

The cryptocurrency has reversed course and is now attempting a consolidation between its previous local high of $0.036 and $0.049.

This isn't bearish by any means.

Judging by the general market momentum as of late, Gala is unlikely to go below the $0.036 support shown above, unless a general market correction occurs.

With this in mind, we are bound to see the cryptocurrency reattempt to break the $0.049 resistance sooner or later, making it poised for a rally to the next major resistance around $0.07.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.