Over the past week, Bitcoin (BTC) had seen with a tight trading range, especially when the crypto-asset oscillated between $8,200 low and $8,800 high.
Some analysts have noted that the BTC’s bullish market structure can be vulnerable to invalidation in the near future due to a lack of decisive momentum. However, the recent incurred momentum seems to be enough in relieving those issues.
Meanwhile, the coronavirus outbreak happening in China caused a lot of investors to panic as market pressure continues to rise. So, it’s no surprise why the crude, along with the global equity markets, fell in the past seven days.
The crypto space has not an exemption in the coronavirus outbreak; they have also given up a few grounds. However, these assets are set to create a relief rally while the major cryptos are currently trading in the green.
Despite the unexpected geopolitical events that happened last week, which impacted the price movement of the cryptos, BTC remained the leading crypto-asset in terms of market cap coupled with daily trading volume. But it does not necessarily mean that the crypto asset was the top performer for this week.
HEDG’ Rise by 13%
Hedge Trade (HEDG) successfully reached a 13% rise, which placed the crypto at the number one spot for this week’s top performers. Despite being new in the crypto space, it is now attempting to be part of the top 20 cryptos by market capitalization by market cap list.
On January 24th, the HEDG/USD pair rallied to $2.67010910, which is about $2888.91 rise from the $0.68654876 intraday low on December 5. In the case that the bulls scale above the $2.67010910 level, the crypto could rally to $3 level.
DASH’ 10% Gain
For the third time around, DASH became part of the weekly top performers in the crypto market. That’s due to its 10% gain in the previous seven days.
The DASH/USD pair’s pullback from their recent $142.3419 highs is considered to be shallow because the pulls were on dip buying near $90.2989. This suggests that buyers are willing to accumulate at lower levels. In bulls could hit above $142.3419, then a rally to $180 is possible.
BSV’s Volatile Price Action
The fifth week of BSV in the list favors the bulls. In the past seven days, the crypto’s price action remained volatile. That said, volatility resulted from answered questions that surround the Craig Wright vs. Dave Kleiman court case.
The BVS/USD pair is expected to have a range-bound movement between $337.80 and $237 in the next days. In the case that the bulls successfully break above the $337.80 level, BSV will rally towards $400.
ETC’s 4% Rough Rally
In the past seven days, ETC has seen with a rough rally to 4%. The pullback of ETH from its $12.040 recent highs resulted to a support level near $8. This suggests that the buyers are now willing to risk at lower levels.
Many folks are expecting that the ETC/USD pair could consolidate close to the $10 and $3.40 level. If the pair successfully remained in the $8 and $10 levels, then it will call for an upward breakout.
