Top Five Cryptocurrencies to Watch: BTC, XRP, HBAR, ENA, AXS

Bitcoin is off to a good start this week following its latest price increases. It reclaimed trading above $102k, with the bulls clamoring for more.

The global cryptocurrency market cap is on the rise in relation to the apex coin as the bullish sentiment spreads. Crypto and equities correlation reduced significantly due to the ongoing trend. Nonetheless, the S&P 500 may see more surges in the coming days.

The crypto industry is worth $3.60 trillion, signifying a 3% increase from the previous day. Altcoins like WLD and SAND are some of the biggest gainers in the last 24 hours. Worldcoin tested the $2.80 barrier but retraced. It trades at $2.68, signifying a more than 11% increase.

The Sandbox sees a similar surge, hitting a high of $0.74. It trades at $0.69 following the bulls’ failure to sustain the uptrend above $0.70.

Several factors contribute to the growing bullish sentiment across the market. One such is the inauguration of the 47th President of the United States. Scheduled for January 20, the crypto market may see notable uptrends in the days leading to it.

Although a good number of altcoins are on the rise, a notable figure is yet to join the bullish trend.

Top Five Cryptocurrencies

BTC/USD

Bitcoin is up by over 3% since the day started. The relative strength index slightly rose as buying pressure pushed price higher.

Onchain indicators points to a significant shift in traders’ sentiment. The asset sees stronger buying pressure during the current day than it previously did. The Coinbase premium is positive as US investors resume an aggressive buying trend. Although not green, the Korea Premium shows the lesser selling pressure from South Korea.

Exchange reserves are declining as buying continues. It dropped by 0.41% in the last 24 hours and almost 2% in the last seven days. The taker buy-sell ratio is above 1 at the time of writing. The reading is a sign of the bullish dominance.

Other indicators on the one-day chart suggest the continuation of the upward trend. The moving average convergence divergence completed its full interception a few hours ago as the histogram flipped green. The bullish crossing between the 12-day EMA and 26-day EMA hints at the BTC/USD pair attaining new levels.

BTC may decisively flip the $102k barrier, opening the way for the asset to break retest the $105k in the coming days. RSI shows room for more price increases.

XRP/USD

XRP hit a brick wall in its bid to reclaim lost levels. It had one of its biggest surges on Wednesday when it opened trading at $2 but surged to a high of $2.34.  The third largest cryptocurrency gained over 11% during the high and continued the next day.

However, its momentum gradually reduced over the next two days. he altcoin currently grapples with lesser trading volume with almost equal pressure from the buyers and sellers amidst the 7% increase in trading volume.

Nonetheless, MACD points to the asset breaking out in the coming days. The metric shows the 12-day EMA and 26-day EMA trending closely following the bullish interception. Their latest trend mimics current price trends. The assistant may see more price increases following this interception as the positive sentiment spreads across the crypto market.

The relative strength index trend flat in response to the ongoing market trends. However, its flat movement reinforces expectations of a bullish breakout. The altcoin may break above $2.60 in the next six days.

HBAR/USD

Hedera resumes its upward movement following several weeks of less volatility. It had one of its biggest surges on Wednesday, surging from $0.26 to a high of $0.30. Closing with over a 9% gain, it continued upwards on Friday, peaking at $0.32 and gaining 7%.

It has since struggled to break above its seven-day high. The asset attempted the barrier but failed to flip a few hours ago. Nonetheless, it trades at $0.31, close to the 23% Fibonacci retracement level. A decisive flip of the $0.33 high may send the HBAR/USD pair as high as $0.35.

Indicators like MACD and RSI prints positive signals.

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