The Top Five Cryptocurrencies This Week

The Top Five Cryptocurrencies This Week

For the foreseeable future, crypto markets should remain unpredictable. However, BTC’s quest to recoup $40,000 might be followed by surges from LUNA, AVAX, ATOM, and FTM. While news of Russian President Vladimir Putin placing nuclear deterrent forces on high alert may be negative, stories of discussions between the warring nations may be positive since it enhances prospects of a peaceful resolution.


The rebound from the intraday low of $34,322 on February 24 reached the moving averages on February 26. The bears are putting up a solid challenge. On the other hand, the bulls haven’t given up much territory, which is a slight plus. If the price falls below the moving averages, the pair might consolidate for a few days between $39,600 and $36,250. If the price breaks and closes below this support, it might lead to a decline below $32,900.


Terra’s LUNA cryptocurrency gained positive momentum after breaking and closing above the downtrend line. On February 25, strong purchasing drove the price above a minor resistance level of $70. The moving averages are about to cross positively, but the RSI is nearing overbought territory.


Avalanche (AVAX) has been trading inside the declining channel for the previous few days. On February 20, the price fell below the moving averages. However, the bulls recaptured the level on February 25, showing substantial purchasing at lower levels. The pair might drop to the moving averages if the price goes down from the downtrend line.


On February 24, ATOM/USDT Cosmos (ATOM) bounced back from a strong support level of $20. This suggests that dealers aim to maintain the $20-$45 range. If bulls force, the pair might surge to $37 and keep the price above the 50-day simple moving average.


For the past several months, FTM/USDT Fantom (FTM) has been trading in a wide range between $1.24 and $3.38. On February 24, the price rebounded significantly from the range’s support, showing that bulls are still buying at this level. If the price falls below this level, the pair may consolidate for a few more days between the 20-day EMA and $1.24.