Top 5 cryptocurrencies to watch this week: BTC, FTT, XTZ, KCS, HNT
Bitcoin managed to bounce off a critical support and if the higher levels sustain, FTT, XTZ, KCS and HNT could attract buyers.
Bitcoin (BTC) is threatening to drop to its worst weekly close since December of 2020
The crypto markets are in are held solidly in a bad habit hold and the selling sped up following a higher-than-anticipated expansion report from the United States on June 10.
It isn't just the crypto markets that are confronting the brunt, even U.S. values markets completed the week finishing June 10 with sharp misfortunes.
It isn't simply the crypto markets that are standing up to the brunt, even U.S. values markets finished the week completing June 10 with sharp mishaps.
The FTT/USDT pair could revitalize to the 50-day SMA ($32) and assuming this level is crossed, the up-move might reach $35.
BTC/USDT daily chart. Source: TradingViewBTC/USDT 4-hour chart. Source: TradingViewFTT/USDT daily chart. Source: TradingViewFTT/USDT 4-hour chart. Source: TradingViewXTZ/USDT daily chart.
Bitcoin broke below the trendline on June 10 which negated the developing ascending triangle pattern.
The bears kept up with their selling pressure and pulled the cost underneath serious areas of strength for the of $28,630 on June 11
The long tail on the June 12 candlestick shows that bulls are attempting to defend the support at $26,700.
If buyers propel the price back above the breakdown level of $28,630,
it will recommend that the BTC/Tether (USDT) match might remain range-bound somewhere in the range of $32,659 and $26,700 for quite a while.
Then again, assuming the cost diverts down from $28,630, it will propose that bears have flipped the level into obstruction
Assuming that occurs, the selling could escalate, and the pair might drop to $22,000 and later to $20,000