The post Top Cryptos Which Need to Be Closely Monitored in the Coming Week appeared first on Coinpedia Fintech News
As the crypto markets are advancing towards the end of the first fortnight, some altcoins are displaying acute strength, while the major ones are stuck within a narrow range. Here are some of the cryptos that are believed to display a huge price movement in the coming week, which may have a major impact on the entire crypto space.
Bitcoin (BTC)
Bitcoin is one of the most observed assets in the crypto markets, as its price has largely become uncertain. After rising above $60,000, the token has managed to sustain itself above the gains, which has kept the bullish hopes alive. Therefore, in the coming weeks, the price is believed to maintain an ascending consolidation as the technicals remain below the range.
The short-term trade setup suggests the BTC price may remain stuck within a range for a while. The Ichimoku cloud has turned bullish but the MACD displays a drop in the buying pressure while the levels are close to undergoing a bearish crossover. This validates the possibility of maintaining horizontal consolidation above $59,500 until the next bullish wave propels the price above $62,500.
Solana (SOL)
The bulls are demonstrating acute weakness at the moment as they are unable to rise above the pivotal resistance zone. After breaking down from the rising wedge, the SOL price is consolidating within a narrow range. The price appears to be accumulating strength, which could be utilized in the coming days to reclaim the lost levels.
The short-term trade suggests the price is about to display massive price action as the StochRSI is about to hit the lower threshold and make a move within the bearish range. This may drag the levels slightly below $140 for a while, which could revamp a fine bullish trend. Besides, the volume has slumped heavily, which shows the possibility of compression, which may result in a massive breakout soon. With this, the Solana price may rise to $160 in the coming days.
Pepe (PEPE)
Similar to Solana & Bitcoin, PEPE is also consolidating within a narrow range but along the lower trend line as a support. The memecoin is trying hard to undergo a strong recovery as the token continues to trade within an ascending triangle. The bulls are trying hard to reclaim $0.00001 but the bears are expected to intensify their activity soon.
The PEPE price in the short term indicates a rally to face another bearish pullback below $0.00000750. The MACD is turning bearish while the levels are trying to enter the positive range, which may not be good for the PEPE price rally. Therefore, after reaching this support, the price is expected to trigger a rebound, as the volume may explode after extreme compression.