astronaut
Pearl
Zcash
Walrus
NEAR Protocol
Starknet
Pudgy Penguins
- ETH price has slipped below the major support level with strong selling pressure.
- The RSI has triggered a golden crossover in Litecoin and expects a small gain.
- XRP price has shown weakness on the major resistance level and melted to the 200-day EMA.
The top 3 cryptos with huge potential this week would be Ethereum, Litecoin, and XRP. All of them are among the top 10 cryptos in the cryptocurrency market in terms of market capitalization. The cryptocurrency market is bearish, which has affected them negatively.
ETH Price Analysis: Will It Surge After Liquidation or Profit Booking Ahead?
The chart structure demonstrates that the Ethereum crypto price has struggled in a parallel channel. The price has failed to overcome the $4K hurdle and triggered a breakdown after multiple tests.
As we can see, the digital asset price has dropped below the main support level of $2800. Most of the buyers have faced liquidity as the price has failed to defend the $2800 level.
If the Ethereum price bounces back and exceeds the $2800 mark, most of the sellers might get trapped. Due to the liquidation, the price may witness strong buying pressure and record a new all-time high.
On the other hand, if the crypto asset price sustains below the $2800 level, sellers may remain strong. The price has triggered a pullback. Below the $2400 level, the ETH coin may witness strong selling pressure.
Turning to the technical indicators, the key moving averages have generated a death crossover. In MACD, the signal line has dropped below the zero line, and the histograms have converted to red.
LTC Price Reached Lower Low Territory; Could It Gain 15% This Week?
When writing, Litecoin traded at $60.42 with an intraday gain of 1.14%. It had a market capitalization of $4.52 Billion, and its 24-hour trading volume was $243.88 Million.
Based on the technical chart, the LTC price has been declining by forming lower lows and lower highs. It was wandering in the lower low territory, and the RSI generated a golden crossover.
If the LTC price exceeds the 20-day EMA, buyers may dominate, and the price may extend to a new higher high. Alternatively, if the price slips below the recent low, sellers may dominate further.
Technical Analysis of XRP on a Daily Timeframe
The Ripple crypto price failed to exceed the recent resistance level. It faced difficulty in exceeding that level throughout this year.
After facing resistance from the $0.640 level, the price has shown weakness and has melted to the 200-day EMA. If the XRP price starts trading below the 20–day EMA, sellers may dominate further.
On the other hand, suppose the XRP price takes support on the 200-day EMA and exceeds the resistance level, the buyers may dominate further.
Conclusion
This week’s top 3 cryptos with huge potential might be ETH, LTC, and XRP. These cryptocurrencies have remained negative for the past few weeks. The Ethereum price has lost around 30% in the past few weeks.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
