Saturday, July 13, 2024

BTC, LEO, MANA, KLAY, and XTZ are the top five cryptocurrencies to monitor this week.

Markets continue to be volatile with inflation worries and the escalating situation between Russia and the Ukraine. With the looming possibility of a Russian invasion, Bitcoin prices dropped to an all-time low of $38,000 and then gained some ground to reach the $39,600 level. There still seems to be some hope for the crypto investing community. Data gathered by Glassnode shows that over 60% of the supply of BTC hasn’t been tapped in over a year. Those interested in long-term holding are staying put and riding out the downturn.

Here’s what you need to know about the top 5 cryptos and why you should track their progress this week.

1. BTC/USD: BTC is facing strong headwinds and buyers are not cashing in despite the $39,600 price. The bear market has a strong hold because the EMA is in a downward trend for BTC. The longer the price stays down, the higher the possibility of BTC losing value.

2. LEO/USD prices have undergone many corrections and now at an all time high of $8.14. This level was reached on February 8th, and it seems like the bulls are hanging on to this level for the foreseeable future.

3. MANA/USD – The Decentraland (MANA) price has declined further since Feb 16th, which indicates a strong bearish trend and traders are selling fast. The resistance level for MANA is very stiff and looks unlikely to move soon.

4. KLAY/USD – the native crypto for Klaytn is also going below the downtrend line. Selling is the trend and the bears have kept the 20-day EMA price steady at $1.23.

5. XTZ/USD: Tezos or XTX has also stayed below the downtrend line since February 10. This is a good indicator that the bears are selling off during rallies. It remains to be seen whether the prices will reach the uptrend line.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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