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.
![Top 5 cryptocurrencies to watch this week: BTC, ETH, BCH, AXS, EOS](https:// images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZjNhYmVmZDAtMjM4ZC00ZDU4LWE2NGItMGYwNzVlOTUxYjlmLmpwZw==.jpg)
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.
![](https://s3.cointelegraph.com/uploads/2022-07/ee8436d0-8e4a-4f7d-ad7e-a94e2347414c.png)
Meanwhile, 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
![Top 5 cryptocurrencies to watch this week: BTC, ETH, BCH, AXS, EOS](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZjNhYmVmZDAtMjM4ZC00ZDU4LWE2NGItMGYwNzVlOTUxYjlmLmpwZw==.jpg?#)
If Bitcoin clears its resistance level, ETH, BCH, AXS and EOS could resume their uptrend with surprising strength.
![Top 5 cryptocurrencies to watch this week: BTC, ETH, BCH, AXS, EOS](https:// images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZjNhYmVmZDAtMjM4ZC00ZDU4LWE2NGItMGYwNzVlOTUxYjlmLmpwZw==.jpg)
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.
![](https://s3.cointelegraph.com/uploads/2022-07/ee8436d0-8e4a-4f7d-ad7e-a94e2347414c.png)
Meanwhile, 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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