Top 5 cryptocurrencies to watch this week
Would you like to return 2017 to the crypto market? It has happened! Bitcoin breaks records, altcoins take off. Things are changing quickly. We have prepared a rating of the top 5 cryptocurrency to watch this week and the future.
It consists of those cryptocurrencies that have a large capitalization, growth potential. These are time-tested assets, and they will show what they are capable of. So which cryptocurrencies to invest in this week?
XRP is trading at $1.13. The general upturn has had little impact on XRP, and market volumes remain low. In addition, the extension of the term during the trial probably played a role, which may scare away investors.
The technical picture for XRP looks positive: the uptrend remains long-term, and bullish trends prevail on the daily chart: the RSI (Relative Strength Index) is stable above the 50 levels, and the price is above the support level of $1.10 and meets resistance at the level of $1.18. Consolidation at the achieved levels will provide a good basis for further growth. The main resistance is at $1.30, consolidation above which is helping to establish a new high.
As for the impact of the ongoing litigation on the price of XRP, it is worth noting that this did not prevent it from reaching the $1.96 mark in April. The situation repeats itself as the cryptocurrency remains popular with investors. For example, it is the most popular asset with retail investors in the UK. While other coins occupy their attention, XRP is just waiting in line, as strong fundamentals have not gone anywhere. Long-term consolidation of an asset is usually accompanied by explosive growth, and there are all the prerequisites for this. It’s one of the most interesting cryptocurrency this week.
In 2021, the Ethereum exchange rate was unpredictable and showed the greatest ambition among all altcoins. Although the share of bitcoin in the total cryptocurrency capitalization has decreased since the beginning of the year, and Ethereum is still the second most popular after BTC, forecasts regarding the price of Ethereum are ambiguous. The base fees will be canceled, so it is expected that the potential of ETH will improve in the near future.
The data of various analysts regarding the forecast for ETH growth is different. But all financial and cryptocurrency analysts are confident that there will be an upward trend in the future. According to the Wallet Investor web resource, the average price of Ethereum in 2025 will be equal to $ 6,000. In mid-2030, the price will jump to $ 16,194, and by the end of the year – to $ 16,961. To summarize, Ethereum is an excellent investment for those who are not looking for quick profits, but are betting on stable growth in the long term.
In the short term, token’s sentiment can be considered bullish. The ADA appears to be on track to test the $ 2.4 resistance. We need to closely monitor price action at this level and see if it has the strength to continue moving up. In the last two attempts to break above this resistance, the bears pushed the ADA price back to key support. So it’s best to be patient and let the price go ahead.
Given the current price movement, the ADA is on track to revisit the $2.4 resistance level. Perhaps, in the coming days, further price increases may follow. If the ADA manages to pull away from the resistance, it will also be possible to retest the historical high, resulting in around $ 3. On the other hand, any deviation in resistance could push the ADA back towards $ 2. This seems like a less likely scenario due to the overall bull market after Bitcoin hit an all-time high yesterday.
Uniswap has announced a V3 version that allows you to represent concentrated liquidity positions using NFTs and hold them in Ethereum wallets just like ETH, UNI, or any other NFT. Since no legacy financial institution has ever achieved concentrated liquidity before, Uniswap and DeFi are some of the most innovative businesses in the financial industry today.
Based on the technical indicators in the Uniswap chart, the outlook for the near term bodes well for a bullish breakout. Uniswap price is now following the 25- and 50-day SMA trajectory and forming an inverted head and shoulders pattern, which is usually a bullish indicator. Forecasts similar to Uniswap will be confirmed if the rate breaks the resistance at $31.46. It’s one of the most perspective cryptocurrency.
Of course, the bullish rally will continue until the end of 2021. The cryptocurrency demand has grown dramatically. Today, the MVRV on-chain indicator indicates the likelihood that the bitcoin rate may head to new all-time highs. This is very similar to the situation in 2017. History will repeat itself, and we will see records again until the end of 2021. The launch of ETFs will also not go unnoticed by large investment companies, which can now recruit bitcoin into their portfolios of thousands of clients. Moreover, the demand from the latter is growing every day.
Bitcoin at $ 125-150K is a very realistic goal until the end of the year. Naturally, it will not do without local corrections. Everything is as usual here, the most greedy lose and the most daring win.
Top 5 cryptocurrency to watch this week
We expect a positive completion of 2021 for BTC and top cryptocurrencies this week. History repeats itself, and in the case of BTC, this has been repeated more than once or twice. Stay tuned for updates, and remember that there are no guarantees in the financial markets. There are only probabilities and competent risk management. And now you know the top 5 cryptocurrency to watch this week.