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Tuesday

28 September 2021

Top 5 cryptocurrencies to watch this week: BTC, ALGO, ATOM, XTZ, EGLD

Top 5 cryptocurrencies to watch this week: BTC, ALGO, ATOM, XTZ, EGLD


smart summary beta

If buyers push the price above $47,399.97, the BTC/USDT pair will attempt to rise to the overhead zone of $50,500 to $52,920.

On the other hand, if the price turns down from the current level, it will suggest that bears are aggressively defending the 200-day SMA.

The bears tried to trap the bulls by sinking the price below the breakout level at $1.84 on Sep.

The ALGO/USDT pair has rebounded off the support with strength today and bulls are currently attempting to thrust the price above $2.49.

A break and close below $1.84 will suggest that the current breakout was a bull trap.

If sellers pull the price below $2.30, the pair could again slide to the breakout level at $1.84.

They will try to pull the price back below $32.32 and trap the aggressive bulls.

A break below this level will suggest that the bullish momentum has weakened.

The 4-hour chart shows that bears sold the breakout above $32.32 but they could not sustain the pair below $32.

If bulls sustain the price above $32.32, the pair could rally to $38.49.

Conversely, if bears again pull the price below $32.32, the pair could drop to $30.98.

If the price rebounds off this level, the bulls will attempt to resume the uptrend but if the support cracks, the decline could extend to the critical support at $26.

Although bears pulled the price below the 200-day SMA ($4.19), they could not sustain the lower levels.

A breakout and close above this level will suggest the start of a new uptrend.

If bulls drive and sustain the price above the overhead resistance zone at $6.80 to $6.95, the pair may rally to $7.72.

A break and close below $5.88 will be the first sign that bulls are losing their grip.

If bulls sustain the price above $245.80, the pair could start the next leg of the uptrend.

The bears will have to pull and sustain the price below the breakout level at $245.80 to signal a possible change in trend.

A break and close below the channel will be the first sign that the bullish momentum could be weakening.

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cointelegraph.com
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bitsmart 2021