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Monday

19 April 2021

Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, DOT, EOS

Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, DOT, EOS


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If the bulls can thrust the price above this zone, it could trap the bears, resulting in a possible short squeeze.

A break below this level could open the doors for a decline to $50,460.02.

However, the bulls could not sustain the higher levels as the price again dipped back below the breakout level at $2,040.77.

However, if the price turns down from the overhead zone and dips below the 20-day EMA, it will suggest that the bullish momentum has weakened.

A break below the 50-day SMA ($1,751) could keep the pair range-bound between $1,289 and $2,040.77.

Binance Coin (BNB) broke out to a new all-time high on April 2 but the bulls could not sustain the higher levels and the price dipped back below $348.69.

If the bulls can thrust the price above the all-time high at $356.98, the BNB/USDT pair could start the next leg of the uptrend that may reach $400 and then $430.

On the contrary, if the price turns down from the current level or the overhead resistance and slides below $315, it will suggest that the bullish momentum is weakening.

The bulls will now make one more attempt to push the price above $356.98 and if they succeed, the pair could pick up momentum.

The bears could not build upon their advantage as the bulls purchased at lower levels and have pushed the price back above $42.28 today.

If the bulls can now drive the price above $46.80, the DOT/USDT pair could resume the uptrend and rally to the target objective at $53.50.

However, if the price turns down from the current levels and breaks below the 20-EMA, it will suggest that supply exceeds demand.

The bears dragged the price back below the breakout level of $5.60 on April 3, but the positive sign is that the bulls have not allowed the bears to assert their dominance.

The EOS/USDT pair is likely to pick up momentum after the bulls propel the price above $6.50.

Contrary to this assumption, if the price turns down and breaks below $5.20, it will suggest that the breakout above $5.60 was a bull trap

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cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2021