Top 5 cryptocurrencies to watch this week: BTC, ETH, BCH, AXS, EOS
If Bitcoin clears its resistance level, ETH, BCH, AXS and EOS could resume their uptrend with surprising strength.
Price analysis
The bulls are trying to pull off a strong weekly close for Bitcoin (BTC), while the bears are trying to regain their edge. Analysts are closely watching the 200-week moving average which is at $22,705 and the current BTC setup suggests that a decisive move is imminent.
Many analysts expect a weekly close above the 200-week MA to attract further buying, but a break below could signal that the bears are back in play. Short-term situation looks uncertain, analyst Caleb Franzen said that Bitcoin has been in an accumulation zone since May.
Daily View Crypto Market Data . Source: Coin360Meanwhile, on-chain analytics firm CryptoQuant pointed to increased outflows of Ether (ETH) from major exchanges, totaling $1.87 million on July 22. Usually, exits from crypto exchanges suggest that traders are bullish over the long term, so they can be
If Bitcoin clears its resistance level, ETH, BCH, AXS and EOS could resume their uptrend with surprising strength.
Price analysis
The bulls are trying to pull off a strong weekly close for Bitcoin (BTC), while the bears are trying to regain their edge. Analysts are closely watching the 200-week moving average which is at $22,705 and the current BTC setup suggests that a decisive move is imminent.
Many analysts expect a weekly close above the 200-week MA to attract further buying, but a break below could signal that the bears are back in play. Short-term situation looks uncertain, analyst Caleb Franzen said that Bitcoin has been in an accumulation zone since May.
Daily View Crypto Market Data . Source: Coin360Meanwhile, on-chain analytics firm CryptoQuant pointed to increased outflows of Ether (ETH) from major exchanges, totaling $1.87 million on July 22. Usually, exits from crypto exchanges suggest that traders are bullish over the long term, so they can be
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