So far the top crypto performers of this week have all risen more than 25%, which shows that they are backed by momentum but for long can bulls keep it up? Let's analyze the charts to see what next week has in store for investors.
The bulls struggled to push the price above the overhead resistance at $10 for the past two weeks.
If the momentum is strong, the rally can extend to $19. However, as RSI is in the overbought zone, the pair might consolidate or enter a minor correction before breaking above $14. Our bullish view will be invalidated if the bears sink the price back below the support at $10. Such a move will indicate a lack of buyers at higher levels.
Our bullish view will be invalidated if the bears sink and sustain the price below $66.2486.
The price might dip to the breakout level of $0.0461161, which might offer a low-risk buying opportunity.
If the price turns down from $0.385033, the pair might remain range-bound for a few weeks.
If the momentum carries the price above $0.385033, the next level to watch out for is $0.541.
Our bullish view will be invalidated if the price turns down from the current levels or the overhead resistance and plummets below $0.244553.
Though bears attempted to stall the relief rally at the 50-week SMA, the momentum this week has pushed the price above it.
If the bulls fail to sustain the price above $66.1326, the pair might again dip to $45.67, which is likely to act as a strong support.
Top 5 Cryptos This Week: ETC, LTC, ADA, MIOTA, ZEC
Published on Feb 2, 2020
by Cointele | Published on Coinage
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