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Monday

10 May 2021

Top 5 cryptocurrencies to watch this week: BTC, SOL, HT, ETC, AAVE

Top 5 cryptocurrencies to watch this week: BTC, SOL, HT, ETC, AAVE


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If sellers pull the price back below the 20-day exponential moving average ($55,723), the BTC/USDT pair could drop to $52,323.21 and then to $50,460.

The 4-hour chart shows the bulls pushed the price above the $57,500 resistance but could not sustain it.

The bears pulled the price back below the level and are trying to break the 20-EMA support.

If the bears sustain the price below $48.64 for two days, the SOL/USDT pair could drop to the support at $40.51.

A strong rebound off this support will suggest the bulls are accumulating on dips.

However, the bears are trying to pull the price back below the breakout level and trap the aggressive bulls.

If the price dips and sustains below $26.89 for three days, the HT/USDT pair could gradually drop to $22.

Conversely, if the bulls defend the $26.89 support or do not give up much ground below $25, it will suggest strong buying on every minor dip.

A break below $26 could pull the price down to the 20-EMA.

If the price rebounds off this level strongly, the bulls will make one more attempt to resume the uptrend.

If buyers propel the price above the overhead zone, the ETC/USDT pair could resume the uptrend and rally to $53.21.

Contrary to this assumption, if the price turns down from the overhead zone, the bears will try to sink the pair to the 20-day EMA.

A break below this support will indicate the bullish momentum has weakened and the pair could then drop to $22.20.

A break below the 20-EMA will be the first sign that the bullish momentum may be weakening.

That could pull the price down to the 50-SMA.

If the price dips below the 20-day EMA ($415), it will suggest that bulls are not buying on dips.

That could pull the price down to the 50-day SMA ($383) and extend the stay of the AAVE/USDT pair inside the range for a few more days.

This bullish view will weaken if the bears pull the price below the 20-EMA.

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cointelegraph.com
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