Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

KCS/USDT might rise next to the 50% retracement point at $14.95, and after that rally to the overhead resistance at the $20 EMA ($ 15.45). This is an important level to see since a break listed below it might indicate that the sag has ended.

Daily chart of BTC/USDT Source: TradingView.

If bulls push the price higher than the 20-day EMA, it might reach $135, where bears might install a strong defense. To indicate a possible change in trend, the bulls will require to push the price greater than the 200-day SMA ($ 150).

Buyers might experience resistance in the $108-$ 16 zone, but if they conquer it, recovery might reach $135.

MANA/USDT 4-hour chart. Source: TradingView.

Contrary to the assumption, bears will try to sink the set below $9 if the rate falls sharply. The set might retrace its downward pattern and fall to $5, and after that to $4.40 if this level is broken.

Bears will take benefit of their opportunity and attempt to bring the BTC/USDT exchange down listed below $26,700 if the rate falls listed below either resistance. The sag might resume if they can do so. Next assistance is $25,000, then $21,800.

Bears managed to pull the cost down below this support on May 11, and 12, they were unable to sustain lower levels. If the rate falls listed below the 50-SMA or the $12 level, this favorable outlook might be canceled.

ZEC/USDT 4-hour chart. Source: TradingView.

The downside is that a break listed below $87 will be the first sign of weakness. This might result in a retesting of the critical assistance zone between $81-$ 69. If the close is listed below $69, it might signal the resumption or extension of the downtrend.

Contrary to the presumption, purchasers driving the cost higher than the 61.8% Fibonacci level at $34,823, will indicate that sellers pressure is reducing. This could lead to a sharp rally towards the 50-day SMA ($ 39,626), where bears will again pose a challenge.

The bears will try to retest $0.60 assistance if the cost falls greatly from its existing level. Contrary to the assumption, if costs fall below the current level and break below the 20-EMA it will indicate that bears remain active at higher levels. The 50-SMA could be reached if the cost falls below the 20EMA and the existing level.

The 0.60 level rebound has seen a strong increase above the 50-SMA. Buyers will try to press the cost up to the 200-SMA.

The MKR/USDT pairing might get momentum if purchasers keep the price above 200-SMA. This would permit it to rally to $1800, and after that to $1900. The 50-SMA could be reached if the price falls below the 20EMA and the present level.

Maker (MKR), which bounced off mental support at $1,000 on May 12, showed that bulls are defending this level with all they have. Although the bulls drove the cost up to the 50-day SMA ($ 1,754) May 13, the candlesticks long wick shows that strong selling is occurring at greater levels.

Arthur Hayes, who was the ex-CEO of BitMEXs crypto derivatives platform, specified in his latest blog site post that crypto markets need to be permitted to “heal” from the bloodbath. He specified that if Bitcoin falls to $20,000 or Ether (ETH to $1,300), he will end up being a buyer.

Bitcoin attempted to bounce highly on May 13, but the candlesticks long wick recommends that bears have no intention of losing their advantage. The bears have actually not can sustaining the cost listed below $28,805. This is a minor plus.

Bitcoin (BTC), which is a cryptocurrency, has actually been fairly calm over the weekend as traders try to reconstruct markets following the Terra LUNA disaster. Many analysts believe that the healing will be sluggish due to unfavorable macro factors.

If the cost falls listed below the 50-SMA or the $12 level, this positive outlook might be canceled. The bears will attempt to sink the pair towards the $9 support.

Daily chart MANA/USDT Source: TradingView.

Bulls will try to push the cost higher than the 50-day SMA. If they prosper, it will break the ice for a rally to the 200 day SMA ($ 2,179).

Positive news is that bulls didnt lose ground on May 13, and they resumed their relief rally. The 20-day EMA ($ 1,440), has actually started to rise and the RSI is at the midpoint. This recommends that buyers may have a slight advantage.

The bears will try to retest $0.60 assistance if the price falls dramatically from its existing level. Breaking and closing below this level could indicate the resumption or continuation of the downtrend.

BTC/USDT 4-hour chart. TradingView.

On the 4-hour chart, the bulls have lifted the rate above 50-SMA. This suggests that the demand is still strong at greater levels. The 20-EMA has begun to rise and the RSI is now in the positive zone. This recommends that sellers might be losing their grip.

The cost could drop to $81, if they can do so. To begin the next leg in the drop, the bears must keep the rate below $81.

MKR/USDT.

This will indicate strong selling at greater levels if the cost falls listed below the 50-day SMA or current level. If bears pull back and keep the rate below 20-day EMA, the bullish momentum could be deteriorated.

ZEC/USDT.

Zcash (ZEC), has held the $81 support for the past couple of days. Bears handled to pull the cost down listed below this support on May 11, and 12, they were not able to sustain lower levels. This is a sign of strong bull demand.

Daily chart of KCS/USDT Source: TradingView.

KuCoin Token, (KCS), rebounded highly from the strong support at $9 on Mai 12. The relief rally has cleared the very first difficulty at the 38.2% Fibonacci level at $12.89. This is a minor favorable.

MANA/USDT.

Decentraland (MANA), has been in a strong sag over the past couple of days. The bulls vigorously defended the drop to $0.60 on May 12, leading to a healing of the 20-day EMA ($ 1.36).

KCS/USDT.

You need to research all elements of trading and financial investment prior to making any choice.
Check out More.

The ZEC/USDT currency set could rise to the $20 EMA ($ 114) level. This level was a significant hurdle in the pullback that occurred on May 5. The bears will try to halt the recovery at the 20 day EMA.

Contrary to the presumption, if prices fall below the current level and break below the 20-EMA it will indicate that bears stay active at higher levels. This might bring the price to $0.95. If this level stops working, the set could check the crucial assistance level at $0.60.

The bulls have driven the cost approximately the 50 SMA, showing a strong resurgence effort. The 20-EMA is gradually increasing and the RSI has leapt to the favorable area. This suggests that the path to the upside is the most challenging.

In a current report, Delphi Digital, a crypto research company, mentioned that the rally in DXY (the United States dollar index) had raised its 14-month relative strength sign “above 70” for the very first time because late 2014 to 2016.

Daily chart ZEC/USDT Source: TradingView.

While crypto markets are presently in a sag they could still experience routine bearish market rallies that might provide short-term trading opportunities. Lets take a look at the charts for the leading 5 cryptocurrencies that could bounce if belief improves.

The DXY has risen about 5.7% in the past 11 of these instances. Crypto investors could be in difficulty if the DXY-Bitcoin connection remains unchanged.

Although the 200-SMA has consistently functioned as a strong resistance, it is motivating to see bulls buying dips to the 20EMA. This shows a shift in belief from selling rallies to buying dips.

Bulls that do not give up ground at the current level will suggest that traders are purchasing dips. This could increase the opportunities of a break above 20-day EMA. The pair might rally to the SMA at the 50-day mark ($ 1.94).

If the price increases above the drop line, purchasers will be rewarded. The bulls could press the rate approximately $32,659. It might open the method for a rally to the 200 SMA if the cost breaks and closes above this level.

Related: Ethereum at Risk of 25% Crash as ETH Price Forms Bearish Technical Pattern.

Daily chart of MKR/USDT Source: TradingView.

MKR/USDT 4-hour chart. Source: TradingView.

BTC/USDT.

Recovery could be hampered at the 38.2% Fibonacci retracement point at $31,721 or at the 20-day rapid moving mean (EMA) ($ 33,985).

While the bulls are purchasing dips as much as $28,805 as important assistance, the bears attempt to stop the recovery at the downtrend. The 20-EMA has sunk and the RSI has actually risen towards the midpoint. This suggests a balance in supply and demand.

Daily view of crypto market data. Source: Coin360.

KCS/USDT 4-hour chart. Source: TradingView.

The set might fall to $27,700 if bears push the rate listed below $28,805. This assistance is likely to be defended by bulls as a signal of the resumption or drop.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Jeannine Cruz

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.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami