Top Five Cryptocurrencies to Watch: BTC, XRP, SOL, HYPE, ENA

BTC experienced a significant increase a few hours ago. It is the top gainer in the top 10 as other crypto assest grapple with indecisive actions from investors.

Nonetheless, the apex coin is one of the biggest contributors to the over 90% increase in trading volume across the crypto market. The global cryptocurrency market cap surged above $2.73 trillion as BTC saw fresh liquidity.

Fundamentals flipped bullish earlier on Monday, resulting in improved trading conditions. US President Donald Trump directed the Federal Reserve to cut interest rates. Historically, such cuts made several cryptocurrecies surge. This prospect may be a remedy to the ongoing  downtrend across the sector.

Investor believe that the cut may happen soon as the President promised to terminate the fed reserve chair’s contract following repeated failure to satisfy request to slash rates. Jerome Powell may succumb this time to keep his job.

Nonetheless, most cryptocurrencies are yet to react to this news. It is a sign of mixed sentiment: while some believe a positive shift is on hand, other are more cautious.

It is worth noting that the previous was unimpressive for the crypto market as several asset grappled with low volatlity. The new week shows some coins and tokens attempting key levels. Let’s see how they perform this week.

Top Five Cryptocurrencies

BTC/USD

Bitcoin broke above its fourteen-day high a few hours ago. It surged from $85,197 to $88,527 but retraced and now trades at $87k. The asset received a bosst as gold surged at the prospect of a possible interest rate cut.

The latest breakout marks a huge shift in the asset’s trend. It traded almost flat last week as trading volume plummeted. It experienced low volatility during this period, keeping prices relatively stable. It maintained the $83k support amid price actions.

However, indicators are pointing to an impending decline. BTC surge above $88k saw it retest bollinger’s upper band. Such attempts mostly signify the end of an uptrend. Nonetheless, the band may widen if the uptrend continues.

The moving average convergence divergence hints at further uphill movement. The metric shows no signs of halting its advances ad the bulls continue to sustain the current momentum. This is the same reading on the relative strength index. The metric saw a sharp rise as buying pressure spike. This may mean that BTC may attempt $90k.

XRP/USD

XRP saw a sharp rise in price a few hours ago, hitting a high of $2.14. However, the bullish event soon changed with the asset plummeting. It is trading at its opening price at the time of writing.

The latest failed attempt at surging marks another strong indication that the asset is yet to see notable buying pressure. The bears started a selloff after the slight increase, mimicking trading actions last Monday. It may continue the low volatlity trend if last week’s price actions repeat. This may see it hover around $2.

Nonetheless, many assets may react to the slight shift in fundamentals. Like BTC, the altcoin may look to break above the $2.20 resistance.

The bollinger band is shrinking and trending almost on a straight line. This trend is indicative of an impending change in price action, a breakout may be imminent. MACD’s uptrend may support this claim.

SOL/USD

Solana broke above $140 on Sunday, surging from $135 to $141. However, it failed to close above this key level as the asset experienced notable selling pressure afterward.

Nonetheless, it broke the mark again a few hours ago but retraced. SOL peaked at $143, sparking predictions of a return to $150.Trading at $136 at the time of writing, printing a red signal, the coin is back to its opening price.

The surge above $140 saw it edge closer to reclaiming the 100% fib level at $149. Its failure to sustain momentum above this mark may result in the altcoin testing the $130 support. The Bollinger band showed that SOL tested the upper band during its recent surge.  This may mean the end of the upticks.

The moving average convergence divergence prints bearish signal. Although the metric is seeing notable uphill movement, its histogram displayed a small bar on Monday which may indicate a slight shift in its trajectory. It may signal the start of a bearish divergence.

HYPE/USD

Hyperliquid may close Monday with a green candle like BTC. It had a good start to the session, surging from $17.2 to a high of $18.4. Although it saw a slight decline, it is up by almost 3%. The asset resumes its uptrend after it short pause on Sunday.

The one-day chart shows that the altcoin experienced significant price increases over the last two weeks. The previous week was no exemption as it gained over 14%.

HYPE is off to a good and may look to continue the uptrend. The relative strength index is at 63, showing more room for further increases. Previous price movements suggest that the altcoin may retest the $20 resistance within the next six days.

However, its failure to break above the $18.5 may hint an impending change in price trajectory. It is worth noting that its tested bollinger’s upper band but failed. Nonetheless, price has since struggled to surge signifcantly higher.

ENA/USD

Like BTC, Ethena had a significant increase in price earlier on Monday. It retest bollinger middle band but retraced to its opening price. Nonetheless, it prints a green candle marking its fifth in a row.

However, the one-day chart shows that asset did not see any significant price increase in the last three days. It registered slight volatility during this period. It is worth noting that the slight increases caused MACD to flip bullish, displaying a positive divergence. This may signal further increases.

Nonetheless, based on previous price movements, it may continue its trend. Conversely, indicators lean toward a breakout to the top. The asset may break above $0.30.

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