Sirwin
Sirwin

Set Of Cryptocurrencies To Watch This Week Ahead Of This Month's Scary Close

By Rubikkav | Rubikkav Insights | 25 Sep 2023


  • Last week, Bitcoin covered a 5% range before closing the week near $26250.54 - about 1.1% lower than the week's opening price.
  • Altcoin marketcap dropped with Bitcoin, falling from $537 billion to $531.7 billion.

Leads Weekly Rise

The price of CRV, the native token of the decentralized finance platform Curve Finance, had a price increase of more than 15% in the last 7 days, according to data released by Criptonoticias.

According to the report, the price increase comes amid proposals for change in the Curve ecosystem. A vote is taking place to reduce the exchange's fees, more precisely in the pool composed of the crvUSD and USD tokens.

In our personal opinion, the Curve token (CRV) had a reversal on the daily chart after September 13. Since date, it has had a partial recovery of approximately 34.33%.

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At the time of writing this article, Curve (CRV) remained above the EMA50 and showing signs of trend continuation, without remaining in the overbought zone.

If you believe that the asset follows its natural trend, a safe entry point towards the bulls, we recommend that it be above $0.5345. If this movement is positive, observe the points 0.5799 and $0.6012 for profit realization.

Otherwise, if you are more bearish, we recommend short entry below the EMa50 and the support $0.4927. After these points, observe the points $0.4767 and $0.4441 to consider a profitable exit.

Flying Oracles

The main digital newspapers have reported that Link (Link) has appreciated more than 15% since last week. The truth is that this cryptocurrency seems to be in the crosshairs of several whales due to recent updates to its blockchain technology.

From our point of view, the price of Link is suspended above the EMA300 corresponding to the daily chart, and with support at the entry moving average, with average resistance at $7,075.

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Since last July 20, this cryptocurrency made a price correction of approximately 30.19%. From the mentioned point and until the time of writing this article, this cryptocurrency is creating the pattern called "Cup & Handle".

If you are a brave bull, the $7,710 point would be a critical point to consider opening a long position. However, we see that the bears are taking their flag and starting to create an overbought environment. Fact that tells us that it is better to wait for the asset to have an adequate valuation and reach its maximum fatigue point.

Forgotten Jewel

Lisk (LSK) rallied almost 20% from its September low and is retracing into possible support.

This support, at $0.7401, shows accumulation on September 17th before the price ran bears' stops above the relatively equally swing highs near $0.7442 into August 7th's weekly gap. It also has confluence with the 9, 18, and 40 EMAs.

If this support breaks, $0.7091 could also offer support. The price consolidated near this level, under September 18th's swing low, before running bulls' stops on September 11th.

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A run on bulls' stops under this swing low might fill one or both of the daily gaps that reach $0.6864. It's better for bulls if the lower gap stays partially open.

The nearest resistance begins at $0.7405. Distribution happened here before today's retracement into possible support. The proximity of this support to resistance may prompt consolidation that resolves in either direction as Tuesday's testnet migration begins.

If the price breaks this resistance, the midpoint of Saturday's long upper wick at $0.7741 could be the next target. The price could continue through this week to run bears' stops above the wick's high at $0.7903 and fill in more of the August 7th weekly gap, which reaches up to $0.8211.


See you next time...


Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

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