Key Insights
- The top 5 cryptos to watch out for this week are BNB, DOGE, XRP, SHIB, and ADA.
- BNB is one of the most stable cryptocurrencies on the market in terms of price action and has bagged an 8.9% increase over the last 7 days.
- Dogecoin’s price almost doubled during the week and has managed to break the $0.10 resistance to the upside.
Last week, the global crypto market cap reached and broke through the $1 trillion market cap, and most of the cryptos have been in the greens over the last seven days.
However, there is a real possibility that last week’s bullishness leaks into the next. Some analysts and commentators on the crypto space have even speculated that this recent bullishness may very well be the ultimate indicator for the official end of the bear market.
If you plan on making some profit in the coming week, then analyzing and understanding where certain special cryptos might pump and where they might be headed is what you need to do.
The rest of the article below is about the top cryptocurrencies you should probably watch in the coming weeks.
Top 5 Cryptos – #1: Binance Coin (BNB)
BNB is one of the most stable cryptocurrencies on the market in terms of price action and has bagged an 8.9% increase over the last 7 days.
The $330 support is a powerful one the bulls have been eyeing for the past two months.
In late August, BNB broke the $330 resistance downwards and had been retesting this support in a bid to break upwards again. After each failed attempt to break above the $300 resistance, BNB falls right back to the $260 support.
So far, the $260 support has done a good job of stopping the bears. In recent times, BNB appears to be gaining bullish momentum, and next week is expected to present several opportunities for a breakout to the bulls.
If the bulls cannot push high enough to initiate a breakout, BNB may fall to the $288 zone.
Top 5 Cryptos – #2: Dogecoin (DOGE)
The performance of the dog-themed cryptocurrency last week can only be described as stellar. Dogecoin’s price almost doubled during the week and has managed to break the $0.10 resistance to the upside.
After breaking out from the $0.10 resistance, Dogecoin has retested the support level and even appears to have bounced off. Next week may be profitable for the cryptocurrency, owing to its extreme price action over the previous week.
The RSI on the Dogecoin chart currently shows overbought conditions, and the MACD line is well above the RSI signal line. This indicates that the bulls are in control of the market for now and that the market may be headed for a correction or some consolidation over the next few days.
In all, Dogecoin’s performance last week was highly impressive and may be worth keeping an eye out for in the next.
Top 5 Cryptos – #3: Ripple Coin (XRP)
The price action of XRP in last week’s bull market was relatively sluggish at best. However, XRP has some serious fundamentals backing it and may prove to be one of the cryptocurrencies to look out for this week.
XRP has followed this trendline since mid-September and will likely continue doing so over the coming week.
As far as predictions go, XRP is likely to retest the $0.45 support and then move to the upside, depending on whether the bulls can begin and maintain a bounce in XRP’s price action against the bears.
The RSI on the daily chart shows neutral conditions. The RSI signal line and the MACD line appear to be in what looks like a squeeze.
In all, the MACD line is slightly above the signal line, indicating the bulls may be stronger than the bears as far as the market is concerned, but their influence is minimal.
#4: Shiba Inu (SHIB)
Like Dogecoin, Shiba Inu appears to be a cryptocurrency worth looking out for. Last week’s price movement on SHIB wasn’t as strong as Dogecoin’s, but the memecoin also managed to do well.
Shiba Inu managed to break the $0.000012 resistance to the upside and even hit $0.000015 before a reversal happened.
Shiba Inu has reversed in price so far and has retested the $0.000012 support. And as far as this week goes, Shiba Inu’s gains over the last week may spill over into the new one.
On the daily chart, the RSI line on Shiba Inu shows overbought conditions, indicating that a correction or possible consolidation may be on the way. The MACD line is also far above the signal line, indicating that the bulls are strongly in control of the market for now.
#5: Cardano (ADA)
Like most other cryptocurrencies on the market, Cardano performed very well for itself over the last week.
Cardano rose from its lows to around $0.33 and started to ascend to the upside.
So far, the bulls continue to eye the semi-crucial resistance around $0.402 and are now attempting to break it to the upside at the time of writing. This week may be interesting for the cryptocurrency because if it manages to break through the $0.42 resistance, the next target level would be the $0.5 – $0.55 zones.
So far, Cardano appears strong fundamentally, as illustrated by the MACD on the daily timeframe. The MACD line is above the signal line, indicating that the bulls are significantly strong enough to mount pressure on this $0.42 resistance.
This week is expected to present ample opportunities for a break above this resistance and a relatively strong move to the upside for Cardano.
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.
