Here are the top 5 cryptocurrencies to watch out for this week:
) rebounded sharply from $3.33 on June 18 and has reached the stiff overhead resistance at $6.08. The bears are defending the level aggressively but a minor positive is that the bulls have not given up much ground.The moving averages are close to completing a bullish crossover and the RSI is in the positive zone, indicating that the path of least resistance is to the upside.
If the rebound off the 20-EMA sustains, it could increase the possibility of a break above $6.08. If that happens, the pair could pick up momentum and rally to $6.66 and then to $7.34. This positive view could invalidate in the short term if the price continues lower and breaks below the 20-day EMA. The pair could then slip to $0.11.The moving averages on the 4-hour chart are sloping up and the RSI is in the positive territory, suggesting advantage to buyers. The buyers will have to propel the price above $0.13 to open the doors for a possible rally to $0.14 and then $0.15.
If the price rebounds off the current level, the bulls will again try to clear the overhead hurdle at $1.55. If they can pull it off, it could suggest the start of a new uptrend. Conversely, if the price breaks below the 20-EMA, the pair could drop to the 50-SMA.Helium has formed a symmetrical triangle pattern, indicating indecision among the bulls and the bears. Usually, the symmetrical triangle acts as a continuation pattern but in some cases it indicates a reversal.
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