Top 5 cryptocurrencies to watch this week: BTC, ETH, SOL, MATIC, FTM

The 20-day EMA will bounce back, which suggests that sentiment is favorable and traders are buying dips. The bulls will attempt to restore the uptrend. Contrarily, a break or close listed below the 20 day EMA will show that bullish momentum has deteriorated.


If the rate rises from its current level and breaks through the $62,933- $64,854 resistance zone.

The inverse head-and-shoulders pattern was completed by Ether (ETH)s break and close above neckline on October 14. The Oct. 16 candlesticks long wick recommends that bears are attempting to stop the up-move within the $4,000 to $4.027.88 area.

If the rate falls below the existing level, the ETH/USDT currency pair could fall to the neckline breakout level. This level is essential for bulls to protect. If the rate falls below this level, bulls will attempt to overcome the overhead obstacle.

SOL/USDT 4-hour chart. TradingView.

For the previous few days, Polygon (MATIC), has traded in a vast array in between $1.80 and $1.80. The 20-day EMA ($ 1.32) is starting to increase and the RSI has increased to the favorable territory. This shows that bulls are trying to win the upper hand.

Both moving averages are going up, and the relative strength indicator (RSI), remains in the overbought location. This shows that bulls have control. The BTC/USDT pair could rally to $75,000. If the price increases from its existing level and breaks through the $62,933- $64,854 resistance zone.

The MATIC/USDT currency set might reach $1.80, which would be a significant challenge. If the price relocations listed below this resistance, the set might fall to the 20-day EMA.

Contrary to popular belief, a drop in the price listed below the overhead resistance or present level and a break listed below the moving averages will indicate that traders are exiting positions on pullbacks. The cost could drop to $116, which is the critical support.

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Market individuals think that traders who thought the approval of a Bitcoin ETF product was a rumor might be selling on the news. QCP Capital, a crypto trading company, stated in an update that approval of futures-based ETFs will not offer a long-term lift for Bitcoin rates equivalent to the one in the 4th quarter 2020.

While the bears protect the psychological resistance at $4,000, the bulls attempt to keep the price above 20-EMA. The RSI is close to the midpoint, and the 20EMA is flattening. This recommends a possible debt consolidation in the future.

Related: Why HODL for 48 Hours? Your altcoin wallet will be grateful.

Given that breaking out from the drop line, the 4-hour chart shows that the price has actually traded between $156.36 to $165.61. The uptrend might resume if buyers continue to move the rate above $165.61.

Bulls drove the cost greater than the overhead resistance zone of $1.45- $1.50, but offering at higher levels has brought the cost back within the zone.

If the cost closes above $4,027.88, it could break the ice for a rally towards the record high of $4,372.72 in addition to the pattern target at $4.657. A break listed below the moving averages might result in a plunge to $3,257. The bears will have the upper hand if this support is broken.


Daily view of crypto market information. Source: Coin360.

Solana (SOL), broke out and closed above its sag line Oct. 15. This is the very first indication that bulls may be making a resurgence. The bears tried to bring the cost below the sag line, but failed.

This assistance is likely to rebound strongly, indicating that sentiment has turned more positive and traders are buying dips. This will increase the opportunity of a break above $1.80.

Daily chart of SOL/USDT Source: TradingView.

The set could then start a brand-new uptrend at $2.40, and then check the all-time high of $2.70. If the rate falls below the moving averages and the current level, it might drop to $1.20, then to $1.

Both moving averages are going up, and the RSI has actually moved into the favorable zone. This suggests that the bulls have the benefit in the short-term. Bulls drove the rate greater than the overhead resistance zone of $1.45- $1.50, however costing higher levels has brought the rate back within the zone.

Daily chart of BTC/USDT Source: TradingView.

The news that Bitcoin (BTC), an exchange-traded fund (ETF), could begin trading as quickly as next week sent Bitcoin to $62,933, however it has actually since decreased.


Daily chart of ETH/USDT Source: TradingView.

The bulls are attempting to keep the rate above the coming down channel. The set might reach $2.45 if they prosper. This level can be a strong resistance, bulls might overcome it and the uptrend might resume.

Bitcoin rose above the mental $60,000 mark and the $58,000 resistance on October 15. Although the bears desire to stop the up-move at $62,933, the favorable sign is the bulls have not lost much ground. This indicates that traders arent closing their positions following the current up-move, as they anticipate another upper hand.

Daily chart FTM/USDT Source: TradingView.

Although the moving averages are showing purchasers an advantage, the divergence on RSI may indicate that the bullish momentum is deteriorating. The uptrend might continue if bulls push the rate higher than $2.45. The next target is $3.20.

The instant support for the drawback is $58,000. Closing and breaking below this level could lead short-term traders book earnings, bringing the rate down to $54,336, the 20-day exponential moving mean ($ 54,336).


The possibility of a break above $62,933 if the cost bounces off the 20EMA may increase. If the cost falls listed below this level, bulls will try to overcome the overhead obstacle.

On the 4-hour chart, the set has actually been in an upward trend. Considering that the break above the in proportion triangle, the bears have been not able to reduce the rate or sustain it listed below the 50-simple average.

The SOL/USDT cost might reach $177.80 resistance if bulls continue to press the price above its drop line. This is a crucial level for bears to protect as if bulls overcome this obstacle, the pair can rise to the $194.60 retracement level and then retest the all time high of $216.

The possibility of a break above $62,933 if the rate bounces off the 20EMA may increase. If bears keep the pair and fall listed below 50 SMA, this bullish presumption will be revoked.

If the rate drops listed below $2.45, FTM/USDT may drop to $1.94, and after that combine between these levels for a few more days. Breaking listed below the 20-day EMA ($ 1.85) might indicate a deeper correction.

Chart for MATIC/USDT 4 hours Source: TradingView.

A close above $4,000 might signal the start of the up-move. A break listed below the neckline will show that momentum is compromising. This could result in a decline in the pair to $3,400.

Foxbit founder Joao Cahada claims that his child made a 6,500% benefit from the Bitcoin present she got in 2017. She could not have traded the coin so young, but the returns show that despite the fact that it was difficult for her to trade the coin, patient financiers can make huge returns if they arent troubled by minor falls.

Could Bitcoins rally lead to an all-time high in altcoins? Lets look at the charts of top-5 cryptocurrencies that might outshine over the next couple of months.

If the rate bounces off the 20EMA, the bulls will attempt to resume their up-move. If the cost breaks above $1.63, it might open the method for a rally towards $1.80. This favorable view will be invalidated if the cost falls listed below $1.45.

Chart for FTM/USDT 4 hours Source: TradingView.


Chart for BTC/USDT 4 hours TradingView.

Chart for 4 hours ETH/USDT Source: TradingView.

If the rate breaks above $1.63, it might open the way for a rally towards $1.80.

, if the cost does not sustain above the channel it could indicate that the demand has dried up at greater levels.. The channel might enable the pair to trade within its channels. If it has a break or close below the channel, the set might drop to $1.50.

Daily chart MATIC/USDT Source: TradingView.

The overhead zone of $174.86 to $177.79 is the very first target. A break and close below $156.36 might open the door to a decrease down to $147.11. The set will likely continue to consolidate within the tight range up until then.

Fantoms FTM token has a strong uptrend. The breakout level of $1.94 was successfully protected by the bulls, which indicates that sentiment is positive and traders continue to buy on dips.

High volatility is not possible in the brief term. Investors must focus on the primary pattern and avoid getting captured up in small corrections that are part the course to brand-new perpetuity highs.

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