Top Five Cryptocurrencies to Watch: BTC, SOL, LTC, WLD, JUP

WLD surged 26% on Thursday. It opened the day at $1.19 and peaked at $1.64 for the first time since February. It registered a whopping 20% at the end of the previous intraday session. 

However, at the time of writing, WLD is grappling with notable selling pressure. The hype it enjoyed last week is dwindling as the bulls fail to cause recovery. Nonetheless, it reflects the state of most assets over the last 24 hours. 

Monday is ending with some cryptocurrencies failing to register any significant price shift. The latest trend is amid the over 8% increase in trading volume. However, the global cryptocurrency market is slightly stable. 

Assets in the top 10 will end the day with slight increases. Dogecoin is up by almost 3%, climbing above $0.226. Some traders on X believe that Cardano will wake up this week. It shows no signs of this, as it is off to a sluggish start.

Nonetheless, the market has not shrugged off the bearish sentiment that started on Thursday when Donald Trump announced a 50% tariff on the EU. However, he made a turn over the weekend, pushing the dates the levies will take effect.

Most crypto assets are cooling down following last week’s volatile performance. Will they resume the uptrend within the next six days?

Top Five Cryptocurrencies 

BTC/USD 

A previous analysis hinted at Bitcoin’s massive decline, citing the asset’s overbought status as a reason for this conclusion. This trend may have contributed to Bitcoin’s enormous dip on Friday, causing it to retrace to a low of $106,800 after peaking at $111,800.

The apex coin has yet to recover from the almost 4% loss as it grapples with notable selling congestion. Data from Cryptocurrenciestowatch suggests that it has yet to surge due to a slight decline in trading volume. This may be a sign of exhaustion from the bulls.

Nonetheless, it saw slight upside movement a few hours ago but failed to sustain the momentum. Indicators like RSI and MACD hint at further price declines. BTC is seeing a slow increase in buying pressure but may become oversold shortly after a massive surge. 

The moving average convergence divergence printed a bearish crossing on Sunday. Both metrics favor a dip to $102k. However, the asset may rebound at $106k due to notable demand concentration.

Conversely, onchain metrics suggest that the apex coin may see further increases, pushing prices as high as $115k within six days.

SOL/USD

SOL failed to attain a new high last week as it grappled with notable selling pressure. It had a sluggish start to the previous week, retracing to a low of $159 from $173. However, its sharp surge on Friday saw it peak at its highest value since February. 

The altcoin peaked at $187 as it faced strong rejection to its bid at $190. Nonetheless, the SOL retraced shortly after hitting the level and closed with losses exceeding 3%. The altcoin ended the previous session with no significant change in price.

It is off to another sluggish start. However, the moving average convergence divergence had a bearish crossing last week. The negative signal is ongoing, signifying that the asset may see further declines this week. Previous price movements suggest that the coin may lose the $170 support, dipping as low as $165.

The relative strength index shows no notable change in selling pressure and no attempt by the bulls at a buyback.

LTC/USD

Litecoin ended the weekend with no notable price change. The trend played after the asset retraced from $102 to $94 on Friday. It has since failed to overturn the almost 5% loss it had.

The asset surged to a high of $97.6 a few hours ago but failed to continue the momentum. It trades lower than its opening price at the time of writing. RSI suggests that there is a slight increase in selling pressure. However, previous trends show that RSI rebounds around 45 or 50. The metric is the latter, indicating possible trend reversal. 

MACD prints negative signals. Two weeks ago, the 12-day EMA intercepted the 26-day EMA. The bearish divergence is ongoing. It indicates more price declines that may send the altcoin below $94. It may slip as low as $84.

On the other hand, previous price movements show the asset lingering close to the $94 barrier. The bulls are defending the mark and may cause a rally in the coming days.

WLD/USD

Last week, Worldcoin was the center of attention for many investors. It held a private auction selling over $130 million worth of WLD. Many applauded the sale as a step in the right direction. They cheered for possible expansion, as the CEO said the proceeds would go to building the chain’s infrastructure.

The asset failed to sustain its surge to $1.46 as it faced massive selling congestion. It retraced and now trades at $1.35, more than 4% lower than when it started the day. The decline saw it retest $1.34 support for the first time in the last three days.

Indicators are reacting to the notable decline in prices. RSI slightly dropped as selling pressure spiked. However, the concerning indicator is MACD. The 12-day EMA halted its uptrend and arched downward. A bearish convergence may progress, and a crossing may happen this week.

Previous price movements suggest that failure to keep prices above $1.34 support may cause WLD to retrace to $1.20. 

JUP/USD

Jupiter opened Monday at $0.55 and surged to a high of $0.63. The massive selling congestion at the peak halted its advance at $0.65. It slightly retraced and trades at $0.60, more than 9% higher than it started the day.

Many traders anticipate further increases after the bullish start to the week. Like WLD, JUP is testing a critical mark. The current-day action marks its second attempt to break out above $0.63. It may flip the price level.

However, the asset may become overbought, resulting in a massive decline below $0.50.

The post Top Five Cryptocurrencies to Watch: BTC, SOL, LTC, WLD, JUP appeared first on Cointab.