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Tuesday

26 January 2021

Top 5 cryptocurrencies to watch this week: BTC, ETH, XMR, VET, AAVE

Top 5 cryptocurrencies to watch this week: BTC, ETH, XMR, VET, AAVE


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If the bulls can push and sustain the price above the pennant, the next leg of the uptrend could begin.

This bullish view will be invalidated if the bears sink the price below the pennant.

As neither the bulls nor the bears have a clear advantage, it is better to wait for the price to break above or below the pennant before considering a fresh position.

The buyers will now try to push the price above the $622.807 to $635.456 overhead resistance zone.

However, if the price rebounds off the trendline, the bulls will once again try to propel the price above the overhead resistance.

The bulls will gain the upper hand after the price sustains above $135.50 and the bears will be at an advantage if the price dips below the 50-day SMA.

Conversely, if the price rebounds off the 50-SMA, the bulls will once again try to push the price above the $135.50 to $142.80 resistance zone.

The bulls are currently attempting to push VeChain (VET) above the $0.01755 overhead resistance.

On the contrary, if the pair rebounds off the 20-day EMA, the bulls will make another attempt to push the price above the overhead resistance.

If the pair rebounds off the trendline, the bulls will again try to propel the price above the $0.01755 to $0.01861963 overhead resistance zone.

Conversely, if the bears sink and sustain the price below the trendline, a deeper correction to $0.0145 and then to $0.0125 may be on the cards.

If they can push the price above $94.875, the altcoin could rally to $124.075.

If they can sink the price below $79.20, the AAVE/USD pair could drop to the 20-day EMA.

If the price rebounds off this support, the bulls will again try to resume the uptrend.

If the bears sink the price below the uptrend line, the pair may drop to the 50-SMA and below it to $72.

On the contrary, if the price rebounds off the uptrend line, the bulls will try to push the pair above the downtrend line and the $94.875 resistance.

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cointelegraph.com
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