Last week came with a lot of volatility for the crypto market, especially with the spot Bitcoin ETF approvals.
Bitcoin rallied on some days, leaving the altcoins behind, and on some days, the altcoins left Bitcoin behind. On others, both either crashed together or fell.
Through it all, we have picked out some of the best cryptocurrencies to keep an eye out for in the coming week, based on things like price action, past performance and news.
Here's what we have
Bitcoin is the most obvious contestant for the top spot. Mostly because the ETFs are still new to the market, and their effects on the price of Bitcoin aren't fully understood as of yet.
Bitcoin has both risen and fallen on account of the ETFs throughout the week and according to the charts, some of this volatility might spill over into the coming week.
Bitcoin entered a terrible dip over the previous week, raising speculation about whether the ETF approval was a sell-the-news event.
To top it all off, the cryptocurrency has had low volatility throughout the weekend.
However, Bitcoin appears stable around $42,500 and could be poised for a real rebound from the ascending trendline shown above, when the ETFs resume trading on Monday.
As long as Bitcoin does not go lower than $42,500, we are bound to see a recovery, and a possible retest of $47,000 or higher this week.
However, a break below this line would signify a correction to $38,200 or even lower.
Ethereum may be as sluggish as Bitcoin in terms of performance, but the cryptocurrency is performing very well, according to the charts.
Ethereum is holding strongly above $2,460, which is a very important support as far as Ethereum's near and medium-term perspective goes.
Ethereum has long been predicted to hit $3,000 or even as high as $3,500. According to the charts, the only way that this can happen is if Ethereum successfully holds its ground above $2,460.
So far, Ethereum appears to be doing just that. If we see things go according to plan, Ethereum may start this rally early. However, if a break below this trendline occurs, Ethereum will likely fall to as low as $2,300.
Solana seems to be doing pretty well for itself around $100. The cryptocurrency currently trades under this psychological resistance but is showing signs of strong bullishness.
Solana, so far, has managed to stay above the ascending trendline shown above, as it consolidates for its next move.
The cryptocurrency trades at around $96 at the time of writing but is well poised to explode upwards again and reclaim previous highs.
The only issue though, is that to fully confirm its bullish strength, Solana still has to break and close above its previous high of around $126 on 25 December, last year.
Jito is one of the most popular Solana-based cryptocurrencies out there. Jito in the charts, seems to have found support around $1.43 and looks to be in the middle of a rebound as shown below.
This leaves the door open to a possible 40% rally to the next resistance point on the Jito chart, around $3.6.
Jito, according to CoinMarketCap, currently trades at around $2.62 and is up by around 26.5% over the last day. This suggests a strong bullish presence on the cryptocurrency, and a possible continuation of its rally this week.
Just like what we have seen with Ethereum, Internet Computer broke above the $11.7 resistance and is in the middle of a consolidation above this point.
Judging by the higher highs ICP is making around this $11 support, this consolidation appears to be a strongly bullish one, and ICP is showing signs of trying to start a rebound from here.
The next possible price target for ICP would be between $18 and $21, promising a possible 40 – 60% rally for the bulls, if all goes well.
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.