Top 5 cryptocurrencies to scrutinize this week: BTC, LUNA, AVAX, ATOM, FTM

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The geopolitical news float is inclined to manual to unstable moves in Bitcoin (BTC) and altcoins in the following couple of days. News of Russian President Vladimir Putin ordering the nuclear deterrence forces on high alert would possibly maybe maybe additionally be viewed as a detrimental, but experiences of talks between the warring countries would possibly maybe maybe additionally be certain as it raises hopes of an pause to the war.

The crypto crew got right here into point of curiosity because the Ukrainian govt called for lend a hand and sought crypto donations. Some participants on social media talked about their Ukrainian credit playing cards had stopped working and so that they comprise been now no longer in a quandary to withdraw money from their banks. They highlighted how crypto was primarily the most attention-grabbing money left with them.

Crypto market data on a typical foundation be aware. Source: Coin360

Whereas some analysts are projecting that Bitcoin would possibly maybe maybe additionally comprise bottomed out, Cointelegraph contributor Marcel Pechman warned that derivatives data stays inconclusive. Equally, Ether futures data was also now no longer painting a hugely bullish picture.

The approach-duration of time heed scramble will be dictated by the dispositions in the Russia-Ukraine struggle. Let’s glance the charts of the pause-5 cryptocurrencies which will lead the recovery on news of a calm resolution to the continued war.

BTC/USDT

Bitcoin’s rebound off the Feb. 24 intraday low at $34,322 reached the keen averages on Feb. 26 where the bears are mounting a sturdy resistance. Nonetheless, a minor certain is that the bulls comprise now no longer given up great ground.

BTC/USDT on a typical foundation chart. Source: TradingView

The keen averages are knocking down out and the relative strength index (RSI) is attempting to upward push to the midpoint, signaling that bulls are making a return. If bulls power and retain the fee above the keen averages, the BTC/USDT pair would possibly maybe maybe additionally rally to the overhead resistance at $45,821. This level is inclined to draw sturdy selling by the bears.

Opposite to this assumption, if the fee turns down from the keen averages, the pair would possibly maybe maybe additionally consolidate between $39,600 and $36,250 for a few days. A damage and discontinuance beneath this pork up would possibly maybe maybe additionally launch the doorways for a imaginable topple to $32,900.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart presentations that the fee has been buying and selling in a tight vary between $38,200 and $39,600. The rising 20-exponential keen practical and the RSI like minded above the midpoint uncover a minor advantage to merchants.

A breakout and discontinuance above $39,600 would possibly maybe maybe additionally push the fee to $41,000 and thereafter to $42,000. The bears tend to mount a sturdy resistance in this zone.

If the fee turns down from this zone but would no longer dip reduction beneath $39,600, this can counsel that the sentiment has changed from sell on rallies to desire on dips. That would additionally elevate the prospects of the continuation of the up-switch.

Conversely, a damage and discontinuance beneath $38,200 will uncover aggressive selling approach $39,600. The pair would possibly maybe maybe additionally then as soon as more topple in direction of $36,250.

LUNA/USDT

Terra’s LUNA token picked up bullish momentum after breaking and closing above the downtrend line. Solid buying pushed the fee above the minor resistance at $70 on Feb. 25.

LUNA/USDT on a typical foundation chart. Source: TradingView

The keen averages are on the verge of a bullish crossover but the RSI is approach the overbought zone. This implies that bulls comprise the higher hand but the LUNA/USDT pair would possibly maybe maybe additionally seek a minor correction or consolidation in the approach duration of time.

On the downside, the bulls tend to defend the breakout level at $70 and beneath that the 20-day EMA ($60). If the fee rebounds off either pork up, the pair would possibly maybe maybe additionally lengthen its rally to $90 where the bears would possibly maybe maybe additionally as soon as more provide stiff resistance. This bullish be aware will be negated on a damage and discontinuance beneath the 20-day EMA.

LUNA/USDT 4-hour chart. Source: TradingView

The 4-hour chart presentations that the pair had been buying and selling between $47 and $60 for a glorious deal of days. A damage and discontinuance above $60 signaled the launch of a imaginable unusual up-switch. The 20-EMA is sloping up and the RSI is in the certain zone, indicating advantage to merchants.

If bulls defend the 20-EMA, the assorted of the continuation of the uptrend will enhance. The pair would possibly maybe maybe additionally then upward push above $80 and later rally to the overhead resistance zone between $84 to $87. Conversely, if the fee turns down and slips beneath $70, the pair would possibly maybe maybe additionally topple to $64.

AVAX/USDT

Avalanche (AVAX) has been buying and selling contained in the descending channel for the previous few days. The fee broke beneath the keen averages on Feb. 20 but the bulls reclaimed the extent on Feb. 25, indicating sturdy buying at lower levels.

AVAX/USDT on a typical foundation chart. Source: TradingView

The bulls will now try to push the fee to the downtrend line of the descending channel. It’s some distance a extremely main level to scrutinize out for because a damage and discontinuance above this can uncover a imaginable switch in vogue. The AVAX/USDT pair would possibly maybe maybe additionally first rally to $100 and thereafter launch an up-switch to $120.

Alternatively, if the fee turns down from the downtrend line, the pair would possibly maybe maybe additionally topple to the keen averages. If the fee rebounds off this level, the assorted of a damage above the channel will enhance.

This bullish be aware will invalidate if the fee turns down from the present level or the overhead resistance and breaks beneath $70.

AVAX/USDT 4-hour chart. Source: TradingView

The fee has been buying and selling between the overhead resistance at $83 and the keen averages. The 20-EMA is knocking down out and the RSI is approach the midpoint, indicating a stability between provide and seek data from.

This stability will shift in desire of the bears in the occasion that they pull the fee beneath $76. The pair would possibly maybe maybe additionally then topple to the next pork up at $73. Alternatively, if the fee rebounds off the present level and breaks above $83, the pair would possibly maybe maybe additionally comprise up momentum and rally to the overhead resistance zone at $97 to $100.

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ATOM/USDT

Cosmos (ATOM) rebounded from the sturdy pork up at $20 on Feb. 24. This indicates that merchants are attempting to buy the $20 to $45 vary intact.

ATOM/USDT on a typical foundation chart. Source: TradingView

The fee rose above the 20-day EMA ($27) on Feb. 26 and the bulls are attempting to retain the ATOM/USDT pair above this level. The 20-day EMA is knocking down out and the RSI is acceptable above the midpoint, indicating that bulls are attempting a comeback.

If bulls power and retain the fee above the 50-day easy keen practical ($31), the pair would possibly maybe maybe additionally rally to $37. Opposite to this assumption, if the fee turns down and slips beneath the 20-day EMA, this can counsel that bears are defending the overhead resistance on the 50-day SMA. The pair would possibly maybe maybe additionally then topple to $24.

ATOM/USDT 4-hour chart. Source: TradingView

The bulls comprise pushed the fee above the keen averages and the downtrend line on the 4-hour chart. The 20-EMA has began to flip up and the RSI is in the certain territory, indicating that bulls comprise the higher hand.

If the pair sustains above the downtrend line, the bulls will try to certain the barrier at $31 and push the fee to $34. Opposite to this assumption, if the fee turns down and slips beneath the 20-EMA, the pair would possibly maybe maybe additionally topple to the 50-SMA.

FTM/USDT

Fantom (FTM) has been buying and selling inner a huge vary between $1.24 and $3.38 for the previous a complete lot of months. The fee rebounded sharply off the pork up of the vary on Feb. 24, indicating that bulls continue to desire at this level.

FTM/USDT on a typical foundation chart. Source: TradingView

The rebound has reached the 20-day EMA ($1.82) which is performing as a sturdy resistance. If bulls power and retain the fee above this level, the FTM/USDT pair would possibly maybe maybe additionally reach the 50-day SMA ($2.18). A damage above this level would possibly maybe maybe additionally certain the path for a imaginable up-switch to $2.60.

Opposite to this assumption, if the fee turns down from this level, the pair would possibly maybe maybe additionally consolidate between the 20-day EMA and $1.24 for a few more days. The main level to scrutinize on the downside is $1.24 because if this level cracks, the pair would possibly maybe maybe additionally launch a brand unusual downtrend.

FTM/USDT 4-hour chart. Source: TradingView

The keen averages comprise accomplished a bullish crossover on the 4-hour chart indicating that the instant-duration of time downtrend would possibly maybe maybe additionally be over. If the fee rebounds off the keen averages, this can counsel that merchants are buying on dips.

The merchants will then try to push and retain the fee above the downtrend line. If they organize to make that, the pair would possibly maybe maybe additionally upward push to $2.14 and then to $2.40. This certain be aware will invalidate in the instant duration of time if the pair sustains beneath the keen averages. This form of switch will uncover that bears are piquant at elevated levels.

The views and opinions expressed listed below are entirely these of the author and make now no longer necessarily reflect the views of Cointelegraph. Every investment and buying and selling switch involves possibility, that you just can comprise to habits your comprise learn when making a resolution.