• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA

Jon Hartney by Jon Hartney
July 31, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Consolidation from BTC has opened the door for BNB, UNI, FIL and THETA to run higher.

Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.

Investors seem to be making the most of the depressed levels in Bitcoin. Data from on-chain analytics firm Glassnode shows that Bitcoin in exchange wallets has dropped to 2.4 million Bitcoin in July, down from the March 2020 levels of 3.15 million Bitcoin. This has sent the metric to its lowest level since July 2018.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023
Crypto market data daily view. Source: Coin360

Bloomberg Intelligence senior commodity strategist Mike McGlone highlighted that the United States Federal Reserve’s indication to consider rate hikes on a “meeting by meeting basis” may lay the groundwork for Bitcoin to outperform most assets. He said that Bitcoin’s “risk vs. reward tilted favorably for one of the greatest bull markets in history.”

Could Bitcoin extend its rally in the short term and could that trigger buying in select altcoins? Let’s study the charts of the top-5 cryptocurrencies that may outperform in the near term.

BTC/USDT

Attempts by the bulls to sustain the price above $24,276 have failed in the past two days, indicating that the bears are defending the level with vigor. However, a minor positive is that the bulls have not ceded ground to the bears.

BTC/USDT daily chart. Source: TradingView

This indicates that the bulls are not booking profits in a hurry as they expect a break above the overhead resistance. If the price breaks and closes above $24,276, the BTC/USDT pair could pick up momentum and rally toward $28,171. This level may act as a resistance but if bulls overcome the barrier, the next stop could be $32,000.

The upsloping 20-day exponential moving average ($22,480) and the relative strength index (RSI) in the positive territory indicate that bulls have the upper hand.

To invalidate this bullish view in the short term, the bears will have to sink the price below the 20-day EMA. That could clear the path for a possible drop to the 50-day simple moving average ($21,386) and then to the support line. A break below this level will suggest that bears are back in command.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that bulls pushed the price above the overhead resistance of $24,276 but could not build upon the breakout. The bears pulled the price back below the level but are struggling to sink the pair below the 20-EMA. This indicates that bulls are buying on dips.

If the price rebounds off the current level, the bulls will have another shot at the overhead zone between $24,276 and $24,668. If this zone is scaled, the bullish momentum could pick up further. Conversely, if bears sink the price below the 20-EMA, the pair could drop to the 50-SMA.

BNB/USDT

Binance Coin (BNB) broke above the downtrend line on July 28, indicating a potential trend change. The up-move is facing resistance near the psychological level of $300 but a positive sign is that the buyers have not given up much ground. This suggests that the bulls are not hurrying to book profits.

BNB/USDT daily chart. Source: TradingView

The upsloping 20-day EMA ($263) and the RSI in the positive territory indicate that the path of least resistance is to the upside. If buyers drive the price above $300, the BNB/USDT pair could resume its uptrend toward the overhead resistance at $350.

Alternatively, if the price turns down and breaks below $285, the pair could drop to the downtrend line. The 20-day EMA is placed close to this level, hence it becomes an important support to keep an eye on. If bears sink the price below the 20-day EMA, the pair could decline to the 50-day SMA ($239).

BNB/USDT 4-hour chart. Source: TradingView

The pair turned down from the overhead resistance at $300 but the bulls are attempting to defend the 20-EMA. This indicates buying on dips. The bulls may again attempt to push the price above $300. If they manage to do that, the uptrend could resume. The pair could rise to $311 and then to $322.

This positive view could invalidate in the short term if the price turns down and breaks below the 20-EMA. If that happens, the pair could slide to the 50-SMA. The buyers are expected to defend this level aggressively because a break and close below it could open the doors for a decline to $239.

UNI/USDT

Uniswap (UNI) rebounded off the breakout level of $6.08 on July 26, indicating strong buying on dips. The up-move reached near the psychological resistance at $10 on July 28 where the bears are mounting a strong defense.

UNI/USDT daily chart. Source: TradingView

The upsloping moving averages and the RSI in the positive territory indicate advantage to buyers. If the price rebounds off $8.11, it will suggest that buyers are trying to flip this level into support.

A strong rebound off $8.11 could open the doors for a retest at $10. The bulls will have to clear this overhead hurdle to indicate the start of the next leg of the up-move to $12.

Conversely, if the price turns down and breaks below $8.11, the UNI/USDT pair could drop to the 20-day EMA ($7.48). A break and close below this level will suggest that the bullish momentum has weakened.

UNI/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls are attempting to defend the 20-EMA. If the price turns up from the current level and rises above $9.18, the pair could challenge the overhead resistance zone between $9.83 and $10.

Alternatively, if the price breaks below the 20-EMA, it will suggest that supply exceeds demand. The pair could then drop to the zone between $8.11 and the 50-SMA. This is an important zone for the bulls to defend because if they fail to do that, the short-term momentum could tilt in favor of the bears.

Related: Hong Kong university to inaugurate mixed reality classroom in Metaverse

FIL/USDT

After staying in a tight range for several days, Filecoin (FIL) broke out sharply on July 30, signaling a potential trend change. The RSI has risen into the overbought territory which is another sign that the downtrend may be ending.

FIL/USDT daily chart. Source: TradingView

The up-move may face resistance at the overhead resistance at $9.50 but if bulls do not give much ground from this level, the likelihood of a breakout increases. If that happens, the FIL/USDT pair could start its northward march toward $16, which may again act as a strong resistance.

If the price turns down from the current level and breaks back below $6.55, it will suggest that bears are active at higher levels. The pair may thereafter oscillate in a large range between $5 and $9.50 for a few days.

FIL/USDT 4-hour chart. Source: TradingView

The pair picked up momentum after breaking above $6.40. The bears tried to stall the up-move at $8.89 but the bulls had other plans. They aggressively bought the dip and have pushed the price near the stiff overhead resistance at $9.50.

If the price turns down from the current level, the bulls will attempt to arrest the pullback at the 38.2% Fibonacci retracement level of $8.04. A strong bounce off this level will increase the possibility of a break above $9.50. If that happens, the pair could rally to $10.82. This bullish view could invalidate below $7.70.

THETA/USDT

Theta Network (THETA) has been consolidating between $1 and $1.55 for the past several days. The bulls tried to push the price above the overhead resistance on July 30 but the bears held their ground.

THETA/USDT daily chart. Source: TradingView

If the price rebounds off the moving averages, the bulls will make another attempt to clear the overhead hurdle at $1.55. If they succeed, the THETA/USDT pair could start a new uptrend. The rally could first reach the pattern target of $2.10 and if this level is crossed, the rally may extend to $2.60.

Contrary to this assumption, if the price breaks below the moving averages, the bears will try to pull the pair to $1. Such a move could indicate that the range-bound action may continue for a few more days.

THETA/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the pair turned down from $1.50 and is struggling to rebound off the 20-EMA. This indicates that traders may be booking profits on every minor rise.

If the price sustains below the 20-EMA, the pair could drop to the 50-SMA. This is an important level for the bulls to defend because a break below it could sink the pair to $1.15.

Alternatively, if the price rebounds off the moving averages with strength, it will suggest that lower levels are attracting buyers. If bulls push the price above $1.42, a retest of the $1.50 to $1.55 resistance zone is possible.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,380.000.27%
  • ethereumEthereum(ETH)$1,668.350.80%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$332.271.17%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • rippleXRP(XRP)$0.4112240.37%
  • Binance USDBinance USD(BUSD)$1.00-0.03%
  • cardanoCardano(ADA)$0.4006860.09%
  • dogecoinDogecoin(DOGE)$0.0966533.24%
  • matic-networkPolygon(MATIC)$1.241.49%
  • OKBOKB(OKB)$43.766.09%
  • SolanaSolana(SOL)$24.37-0.47%
  • Shiba InuShiba Inu(SHIB)$0.0000157.76%
  • Lido Staked EtherLido Staked Ether(STETH)$1,662.850.77%
  • polkadotPolkadot(DOT)$6.86-0.12%
  • litecoinLitecoin(LTC)$98.56-0.20%
  • AvalancheAvalanche(AVAX)$21.00-0.96%
  • tronTRON(TRX)$0.0650422.44%
  • UniswapUniswap(UNI)$7.271.84%
  • daiDai(DAI)$1.000.08%
  • cosmosCosmos Hub(ATOM)$14.65-1.20%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,378.000.41%
  • chainlinkChainlink(LINK)$7.220.20%
  • ToncoinToncoin(TON)$2.330.02%
  • ethereum-classicEthereum Classic(ETC)$23.741.96%
  • leo-tokenLEO Token(LEO)$3.491.42%
  • moneroMonero(XMR)$172.890.02%
  • AptosAptos(APT)$16.630.79%
  • bitcoin-cashBitcoin Cash(BCH)$137.510.59%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0929510.10%
  • ApeCoinApeCoin(APE)$5.89-0.74%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.543.58%
  • CronosCronos(CRO)$0.0833141.38%
  • filecoinFilecoin(FIL)$5.53-1.21%
  • QuantQuant(QNT)$143.08-0.65%
  • algorandAlgorand(ALGO)$0.268172-0.24%
  • HederaHedera(HBAR)$0.0728163.20%
  • Lido DAOLido DAO(LDO)$2.19-2.45%
  • vechainVeChain(VET)$0.0248420.69%
  • FantomFantom(FTM)$0.62-1.44%
  • Internet ComputerInternet Computer(ICP)$5.921.99%
  • decentralandDecentraland(MANA)$0.780.23%
  • The SandboxThe Sandbox(SAND)$0.771.81%
  • Axie InfinityAxie Infinity(AXS)$11.623.07%
  • AaveAave(AAVE)$88.97-0.93%
  • eosEOS(EOS)$1.100.32%
  • FlowFlow(FLOW)$1.160.59%
  • MultiversXMultiversX(EGLD)$46.732.16%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000193-1.46%
  • theta-tokenTheta Network(THETA)$1.142.78%
  • tezosTezos(XTZ)$1.182.88%
  • FraxFrax(FRAX)$1.00-0.28%
  • The GraphThe Graph(GRT)$0.11244314.14%
  • true-usdTrueUSD(TUSD)$1.00-0.03%
  • huobi-tokenHuobi(HT)$5.812.92%
  • paxos-standardPax Dollar(USDP)$1.00-0.04%
  • kucoin-sharesKuCoin(KCS)$8.820.94%
  • havvenSynthetix Network(SNX)$2.756.41%
  • bitcoin-cash-svBitcoin SV(BSV)$43.720.84%
  • Curve DAOCurve DAO(CRV)$1.09-0.94%
  • ChilizChiliz(CHZ)$0.145656-0.49%
  • PancakeSwapPancakeSwap(CAKE)$4.606.44%
  • Rocket PoolRocket Pool(RPL)$40.28-0.20%
  • Frax ShareFrax Share(FXS)$10.29-5.08%
  • eCasheCash(XEC)$0.0000390.20%
  • BitTorrentBitTorrent(BTT)$0.0000011.68%
  • ImmutableXImmutableX(IMX)$0.91-2.68%
  • USDDUSDD(USDD)$0.990.01%
  • Trust WalletTrust Wallet(TWT)$1.691.54%
  • iotaIOTA(MIOTA)$0.2480732.14%
  • Mina ProtocolMina Protocol(MINA)$0.84-0.32%
  • dashDash(DASH)$61.08-1.11%
  • BitDAOBitDAO(BIT)$0.580.62%
  • KlaytnKlaytn(KLAY)$0.2135561.31%
  • GateGate(GT)$4.500.18%
  • OptimismOptimism(OP)$2.99-0.46%
  • makerMaker(MKR)$708.770.89%
  • neoNEO(NEO)$8.80-0.55%
  • cUSDCcUSDC(CUSDC)$0.0227480.02%
  • ArweaveArweave(AR)$11.98-1.69%
  • zcashZcash(ZEC)$46.29-0.28%
  • GMXGMX(GMX)$70.04-7.68%
  • RadixRadix(XRD)$0.057593-2.62%
  • OKCOKC(OKT)$32.356.24%
  • gemini-dollarGemini Dollar(GUSD)$1.010.68%
  • cDAIcDAI(CDAI)$0.0221920.14%
  • THORChainTHORChain(RUNE)$1.86-1.22%
  • OsmosisOsmosis(OSMO)$1.04-4.95%
  • Tokenize XchangeTokenize Xchange(TKX)$6.820.98%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000053.85%
  • RenderRender(RNDR)$1.777.55%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • loopringLoopring(LRC)$0.402400-1.12%
  • PAX GoldPAX Gold(PAXG)$1,862.41-0.06%
  • enjincoinEnjin Coin(ENJ)$0.4872012.75%
  • Convex FinanceConvex Finance(CVX)$6.56-0.52%
  • zilliqaZilliqa(ZIL)$0.030152-0.22%
  • 1inch1inch(1INCH)$0.619.24%