Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET

The Purpose Bitcoin (BTC) exchange-traded fund debuted on the Toronto Stock Exchange on Feb. 18 and has actually rapidly ramped up trading volumes of about $400 million worth of shares in two days. This is quite impressive, considering that the equity market in Canada is just a portion of the size of the U.S. markets. This shows strong need for Bitcoin and financiers preference to take the ETF path to establish fresh positions.Last week, Bitcoin reached another essential turning point when it struck the crucial $1 trillion market capitalization on Feb. 19, making it the 6th property on the list of top market cap business in the world. The involvement of institutional financiers and a market cap of over $1 trillion could allay the issues of manipulation and liquidity raised by the U.S. Securities and Exchange Commission in the previous years as it turned down Bitcoin ETF applications. Crypto market data day-to-day view. Source: Coin360In a current interview with CNBC, Ark Invest CEO Cathie Wood stated that “the possibility of an ETF has gone up.” Wood stated the new SEC chairman Gary Gensler, who taught a digital currency class at the Massachusetts Institute of Technology, might be more open up to crypto, increasing the likelihood of an authorized Bitcoin ETF.Although Bitcoins essential factors continue to enhance, the near term could experience some turbulence due to the steepening of the U.S. Treasury curve.Lets evaluate the charts of the top-5 cryptocurrencies that show the possibility of the resumption of the uptrend in the short term.BTC/ USDBitcoin broke above the resistance line of the rising channel on Feb. 19 and the bulls have actually managed to sustain the breakout. This recommends that traders continue to buy at higher levels. BTC/USDT day-to-day chart. Source: TradingViewThe BTC/USD set had formed a Doji candlestick pattern on Feb. 20, indicating indecision among the bulls and the bears about the next directional relocation. That uncertainty has actually fixed to the advantage today and the bulls will now try to move the rate to $60,974.43. The 20-day exponential moving average ($ 47,450) is sloping up and the relative strength index (RSI) remains in the overbought zone, which shows that bulls have the upper hand.Contrary to this presumption, if the price re-enters the channel, the bears will try to pull the price down to the 20-day EMA. A break listed below the channel will indicate a possible change in trend and the pair might then fix to the 50-day easy moving average. BTC/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows the pair stays in a strong uptrend and the bulls have actually aggressively bought the dips to the 20-EMA. The bears will attempt to stall the existing uptrend at the resistance line of the rising channel.If they prosper, the pair might once again drop to the 20-EMA. A bounce off this support will recommend that the trend stays strong and the bulls are not waiting for a much deeper correction to buy. The momentum might get if the bulls can sustain the cost and propel above the channel.On the contrary, if the bears can sink the price listed below the 20-EMA, it will suggest profit-booking by traders. The trend could compromise if the pair plunges listed below the channel.AVE/ USDAAVE has actually been consolidating in between $392.50 and $545 for the previous couple of days. Because they prepare for higher levels in the future, a consolidation after a strong uptrend is a positive sign as it recommends that traders are not rushing to the exit. AAVE/USDT daily chart. Source: TradingViewThe 20-day EMA ($ 427) is flat and the RSI is just above 56, which suggests that the range-bound action might continue for a couple of more days. The AAVE/USD pair may increase to $545 if the purchasers can push the price above $480. A breakout and close above the $545 to $581.667 resistance zone could start the next leg of the uptrend that may reach $697.50 and then $814.397. On the other hand, if the bears can sustain the price and sink listed below $392.50, it will recommend that supply goes beyond need. That could start a deeper correction to the 50-day SMA ($ 297). AAVE/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the cost has actually been oscillating between $500 and $392.50. The set could drop to $300 and then to the 61.8% Fibonacci retracement level at $267.094 if the bears sink the cost listed below the $392.50 support. Contrary to this assumption, if the bulls can press the rate above the 50-SMA, a move to $500 is possible. A break above this resistance will enhance the potential customers of a transfer to $545 and then $581.667. TOM/USDCosmos (ATOM) is currently correcting in a strong uptrend. While the pullback is five days old, the bears have actually not yet had the ability to pull the rate down to the 38.2% Fibonacci retracement level at $19.007. This shows an absence of sellers at lower levels.ATOM/ USDT daily chart. Source: TradingViewA shallow correction is generally a sign of strength and it increases the possibility of a retest of the $26.55 overhead resistance. The rising moving averages and the RSI in the positive area recommend that bulls have the upper hand.If the bulls can thrust the cost above $26.55, the next leg of the uptrend might begin. The ATOM/USD pair could then rally to $32.173. The up-move may extend to $40 if the bulls can conquer this level. On the contrary, if the set continues to fall, a drop to the 20-day EMA ($ 18.19) is possible. A strong bounce off this support might keep the uptrend undamaged however a break below it will suggest a much deeper correction to the 61.8% retracement level at $14.347. ATOM/USDT 4-hour chart. Source: TradingViewThe 4-hour chart is currently correcting inside a descending channel. The moving averages are on the verge of a bearish crossover and the RSI is in the unfavorable territory, suggesting a minor benefit to the bears.However, if the cost increases from the assistance line of the coming down channel, it will indicate accumulation at lower levels. On a break above the moving averages, a transfer to the resistance line of the channel is possible.A breakout and close above the channel could result in a retest of $26.55. On the other hand, a break below the channel may damage sentiment. The pair might then decline to the 50% retracement level at $16.677. NEO/USDNEO closed and broke above the $47.444 resistance on Feb. 19. The bears attempted to fake this breakout and trap the aggressive bulls on Feb. 20 when they pulled the rate back below $47.444. NEO/USDT day-to-day chart. Source: TradingViewHowever, the bulls had other plans. They aggressively acquired the dip and have actually pressed the price above the mental resistance at $50 today. This may begin the next leg of the uptrend that might reach $60.373 and after that $64.95. The upsloping moving averages and the RSI in the overbought area suggest that bulls remain in control. If the bulls stop working to sustain the cost above $50, it will suggest that traders are scheduling profits at greater levels. A break listed below the 20-day EMA ($ 37.80) will signal a possible change in trend.NEO/ USDT 4-hour chart. Source: TradingViewThe 4-hour chart reveals the formation of a rising triangle, which has a pattern target at $58.588. Generally, the price declines and retests the breakout level however in some cases, when the trend is strong, the cost just combines prior to resuming the up-move. The bulls are presently safeguarding the $50 support. If the price rises from the existing level and breaks above $54.191, the uptrend might resume.This favorable view will revoke if the set refuses from the current level and breaks listed below the triangle. Such a move might lead to a fall to $36.30. VET/USDAfter the sharp rally from $0.026714 to $0.060774, VeChain (VET) has actually mostly held the 38.2% support at $0.047763 on a closing basis, which reveals accumulation at lower levels. The rising moving averages and the RSI in the overbought zone suggest the path of least resistance is to the advantage. VET/USDT daily chart. Source: TradingViewIf the bulls can drive the cost above the overhead resistance at $0.060774, the VET/USD set might begin the next leg of the up-move. The target level to watch on the advantage is $0.085172 and after that $0.10. Contrary to this presumption, if the bulls fail to propel the cost above the overhead resistance, the VET/USD pair might consolidate in between $0.060774 and $0.0424 for a few more days. The trend will tilt in favor of the bears if they can sink and sustain the price below $0.0424. VET/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that both moving averages are flat and the RSI is just above the midpoint, indicating a balance in between supply and need. The pair has formed an ascending triangle pattern that will complete on a breakout and close above $0.060774. This bullish setup has a pattern target of $0.079148. On the other hand, if the rate slips listed below the trendline of the ascending triangle, it will revoke the pattern and open the doors for a fall to $0.042. Title: Top 5 cryptocurrencies to watch today: BTC, AAVE, ATOM, NEO, VETSourced From: cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-aave-atom-neo-vetPublished Date: Sun, 21 Feb 2021 19:45:01 +0000

The 20-day rapid moving average ($ 47,450) is sloping up and the relative strength index (RSI) is in the overbought zone, which indicates that bulls have the upper hand.Contrary to this presumption, if the price returns to the channel, the bears will try to pull the cost down to the 20-day EMA. The momentum could choose up if the bulls can sustain the cost and propel above the channel.On the contrary, if the bears can sink the rate listed below the 20-EMA, it will suggest profit-booking by traders. The rising moving averages and the RSI in the favorable area recommend that bulls have the upper hand.If the bulls can thrust the price above $26.55, the next leg of the uptrend could begin. Typically, the rate turns down and retests the breakout level however sometimes, when the pattern is strong, the cost only combines prior to resuming the up-move. Source: TradingViewIf the bulls can drive the price above the overhead resistance at $0.060774, the VET/USD set could begin the next leg of the up-move.

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Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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