Top 5 Crypto Performers Overview: BTC, EOS, METAHASH, ETH, TRX, ETC

The rise from the lows has pushed Bitcoin to the most overbought levels since the bull run, according to Bloomberg Intelligence analyst Mike McGlone.

The 50-week SMA is also located just below this level.

Our bullish view will be invalidated if the cryptocurrency turns down from the current levels and slips below $4,255.

Such a move will dent sentiment and indicate that the bears are still shorting at higher levels.

Charles Hoskinson, the co-founder of Ethereum and IOHK, also lashed out this week at EOS and Ethereum for their approach to development.

Contrary to our assumption, if the digital currency turns down from the current levels and plummets below the $4.4930-$3.8723 support zone, it will indicate weakness.

The 20-week EMA has flattened out and the RSI is close to the 50 level.

If the digital currency reverses direction from the 20-week EMA and sustains above $167.32, it will indicate demand at lower levels.

We had expected the price to reach $9.50 levels after breaking out of the resistance, but the pair turned around from $8.084.Currently, the digital currency is retesting the breakout levels of $5.889.

If the bears sink the digital currency below this level, it can drop to $0.032.On the other hand, if the price rebounds from the current levels, it can again retest the highs.