What are the top cryptos to check this week? – The first and main question of the year. Bitcoin continues to reach $50,000 this week. This indicates a lack of aggressive procurement by traders. The former CEO of BTCC said that the speech of Chinese traders, who had the right to leave the Chinese stock exchanges until December 31, may have kept prices at a dip level by the end of the year.
However, the president of El Salvador, the first country to adopt Bitcoin as a legal payment method, believes that Bitcoin may increase to $100,000 this year. President Bukele has predicted that in 2022, two more countries will accept Bitcoin as a legal payment.
Institutional investors’ increased acceptance of cryptocurrency in 2021 is another long-term positive. According to the data, in 2021, the net inflow of cryptocurrencies was more than $9.3 billion. More than two-thirds of the crypto inflows were in Bitcoin.
Can Bitcoin start a new move in January and pick up the preferred Altcoins? Top cryptocurrencies that may remain positive in the short term.
Bitcoin has been trading between $48,720 and $45,456 in the last few days. This suggests that buying is collapsing to a higher level. Both are below average, and the RSI is in the negative zone. This means that bears have an advantage. If the price falls below the 20-day EMA, the bears will try to bring the price down to $45,456. If they succeed, the next phase of the downtrend could start, up to $42,000 first and then $40,000.
Contrary, the BTC/USDT could increase at $52,332, above the 50-day moving average. A break and close of this level could indicate the start of a new uptrend, which may soon reach a return level of $58,686.
LUNA/USDT – Top Cryptos
LUNA Token is trying to update its upward trend. However, the bears have other plans, exceeding the $93.81 mark. Rising moving averages and RSI positive territory indicate a slight margin for buyers. If the price again lags behind the 20-day EMA, it suggests that the bulls continue to accumulate during the downtrend.
The LUNA/USDT pair will then try to climb above $93.81; Additionally, challenge the all-time maximum of $103.60. Breaking above this resistance could start the upcoming phase of the uptrend up to $135.26. Conversely, if the price falls and falls below the 20-day EMA, it indicates a change in the short-term trend. Then the pair could drop to $65.15.
FTM/USDT – Top Cryptos
FTM rejected the overhead resistance at $2.67. This suggests that bears are vigorously guarding this level. The FTM/USDT pair could fall to the 20-day EMA with solid support. The quick return of this support indicates that buyers are accumulating a drop. Growing above the 20-day EMA and RSI 68 suggest that the resistance level is bullish.
A break and a close above $2.67 indicate that the bulls are back in the game. The pair could then move north to $3.17 and $3.48. To reverse the growth mood, the bears will have to pull out and keep the price below $2.
ATOM/USDT – Top Cryptos
Cosmos broke on January 1 and closed above $34 above resistance. Rolling averages have completed the growth crossover, indicating that bulls have an advantage.
If the value remains above $34, the increase may grow further. The ATOM/USDT pair could boost to $38; later to $43.28. Rolling averages completed the growth crossover. The RSI is positive, showing that bulls are in control. In parallel, if the price closes below $34, it suggests that the bears are trying to catch aggressive bulls.
Harmony has reached a downward trend line where bears likely offer strong resistance. If the price drops below the current level, Altcoin could fall as low as $0.24. If the price returns from the 20-day EMA, it indicates that the mood remains rising. Then the bulls will again try to push the price above the downtrend line.
If they succeed, it suggests a new step. The first target above is $0.34, and a break above it could lead to re-testing at $0.38. This optimistic view will be reversed if the price falls and falls below $0.21.