Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, FTT, ETC
Bitcoin's attempt to form a bottom has prompted altcoin traders to focus on ETH, MATIC, FTT, and ETC. p>
Price analysis
US equity markets recovered from last week's lows, suggesting demand exists at lower levels. Along the same lines, Bitcoin (BTC) also recovered from $18,910 last week, indicating that traders could move back into risky assets.
However, analysts remain divided in their opinion on Bitcoin's recovery. While some believe the relief rally is a bullish trap, others expect the bullish move to retest the crucial resistance at the 200-week moving average ($22,626).
![](https://s3.cointelegraph.com/uploads/2022-07/380ea3b2-8ec2-44b9-8970-d41e3af2bb3b.png)
The current bear phase has damaged sentiment as seen by the Crypto Fear and Greed Index, which has remained in the " extreme fear” since May 6. According to Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, the time spent in the “extreme fear” category is longer than during the 2018 Bitcoin bear mark...
![Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, FTT, ETC](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMzFmYjM5ZGQtZmRhZC00NWU1LTk0YzEtOGVmNWVlZWE4ODE1LmpwZw==.jpg?#)
Bitcoin's attempt to form a bottom has prompted altcoin traders to focus on ETH, MATIC, FTT, and ETC. p>
Price analysis
US equity markets recovered from last week's lows, suggesting demand exists at lower levels. Along the same lines, Bitcoin (BTC) also recovered from $18,910 last week, indicating that traders could move back into risky assets.
However, analysts remain divided in their opinion on Bitcoin's recovery. While some believe the relief rally is a bullish trap, others expect the bullish move to retest the crucial resistance at the 200-week moving average ($22,626).
![](https://s3.cointelegraph.com/uploads/2022-07/380ea3b2-8ec2-44b9-8970-d41e3af2bb3b.png)
The current bear phase has damaged sentiment as seen by the Crypto Fear and Greed Index, which has remained in the " extreme fear” since May 6. According to Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, the time spent in the “extreme fear” category is longer than during the 2018 Bitcoin bear mark...
What's Your Reaction?
![like](https://vidianews.com/assets/img/reactions/like.png)
![dislike](https://vidianews.com/assets/img/reactions/dislike.png)
![love](https://vidianews.com/assets/img/reactions/love.png)
![funny](https://vidianews.com/assets/img/reactions/funny.png)
![angry](https://vidianews.com/assets/img/reactions/angry.png)
![sad](https://vidianews.com/assets/img/reactions/sad.png)
![wow](https://vidianews.com/assets/img/reactions/wow.png)