Cryptocurrencies: Keep Your Eyes On These 5 Cryptocurrencies This Week! BTC, UNI, LINK, SOL, XMR
Bitcoin’s level of $29,482.61 on July 21 rose 43% to $42,316.71 on July 30. This story sounds familiar from somewhere. Bitcoin’s adventure in 2013 and 2017 was just like that. Let’s see if this sharp return will make investors laugh with the bull season after bad shame.
What Did BTC Do?
BTC, the father of popular cryptocurrencies, has been on the agenda lately. Bitcoin has been making sharp turns. First, it went down to half its record price and even lower from there. Then it almost doubled from where it fell. Bitcoin was at a stiff resistance at $42,451.67. It currently comes and goes between $39,000.00-$40,000.00. The conclusion we can reach here is that the investors do not sell their goods due to the bull probability. BTC, 20
above the daily exponential moving average and close to the overbought zone. This signals that the future move will be to the upside. The new support target will be $50,000 as BTC crosses the $42,451.67 resistance. Moving in the opposite direction, the bulls will try to protect the support at $36,670.
What Has Uniswap Experienced and What Can It Experience?
Uniswap (UNI) is bullish, breaking the descending triangle pattern on July 30. If UNI price breaks the $23.45 to $25 resistance, $30 will become the new resistance target. The RSI is on the positive side and the moving averages have completed their rise.
Contrary to this move, if the price makes a move in the opposite direction, then the waiting bulls may fall into the trap. However, this is a scenario we do not want because if it drops from here, the first resistance will be 17.24 and the next resistance 13. The good news is that the rising moving averages and the RSI in the overbought zone are giving positive signals for these cryptocurrencies.
Chainlink Breaks Above 50-Day SMAW
Chainlink broke above the 50-day SMA of $18.73 on July 27. Thus, the bears were out of control. If LINK price bounces back from the 20-day EMA, the sentiment turns bullish. Buyers try to push the resistance between $32.50 and $35. However, in a reverse story, the bears could drag the price between $13.38 and $15. This cryptocurrency is bullish on the 4-hour chart and the RSI is in the positive territory, so the bulls are still in the league.
Did Fading Disrupt the Declining Triangle Pattern?
Solona started to rise, breaking the falling triangle pattern on July 31. Let’s hope the bears’ plans to trap the bulls fail. SOL’s 20-day EMA has risen and the RSI has climbed above 61 so buyers appear to be in the foreground.
Buyers are trying to continue the uptrend, pushing the price into the $37 to $38.10 resistance zone. If this nudge is successful, the SOL price could rise to $44. We hope that the bulls will survive this war. The rising moving averages and the RSI in the positive zone suggest that the bulls have the upper hand.
Monero Breaks the Bearish Breakdown
Monero (XMR) is also one of the cryptocurrencies that broke the falling triangle pattern. The XMR/USDT pair has been rising in a tight range for the past three days. If the bulls can push the price above $250, other resistances could be at $288.06 and then $316.23. XMR’s moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. If the price drops to $220, it means investors will buy on the dip. If the bottom is bought, the bulls take action to raise it again from this level.
XMR’s graph has been stuck between $180 and $227.50 for several days. If it can recover itself from this range, $275 is our new target. However, in this process, the bears are trying to pull the price to $ 250. If the bulls are successful, the price could increase rapidly after $250.