Today there are more than 17,000 different cryptocurrencies. Bitcoin or Ethereum are known to the vast majority of the population. However, they have started this year irregularly and with falls. On the other hand, there are other cryptocurrencies that could skyrocket in price this week. Let’s see which ones.
We have all heard about cryptocurrencies in recent years and there are many who have started mining cryptocurrencies from home. Anyone can do it if they have the equipment and software that allows it. If you are into this world, you will be interested to know which 4 cryptocurrencies could skyrocket this week.
LEO
LEO reached its all- time high on February 8 at $8.14. If the buyers push the price above $6.24, the LEO/USD pair could start a bullish move again, with a rally to $7 possible.
If the buyers push and hold the price above the 50 SMA, the pair could possibly rally to $6.24 .
LEO/USD 4-hour chart
MANNA
Decentraland (MANA) turned down from the downtrend line on Feb. 16. This means that there is still a bearish sentiment and users are selling on rallies at stiff resistance levels. They have driven their price below the 50-day SMA ($2.83), which leads to a potential drop into the support zone between $2.44 and the 200-day SMA ($2.20).
It is possible for the price to bounce off this zone, at which point the bulls will once again try to lift the MANA pair to a downtrend line. Obstacle that they will have to overcome if they want the trend to go up again . However, if the bears sink and the price sustains below the 200-day SMA, the selling action could intensify and the pair could go as high as $1.70.
If the price of MANA turns up from the current level, the bulls will try to push it above the 200-day SMA. This move will be the first sign that there is a possible breakout and close above the 20 EMA, which means that there is a chance of a rally towards the resistance line of the channel.
MANA/USDT 4-hour chart
KLAY
Klaytn’s native cryptocurrency, like MANA, bucked the downtrend on Feb. 16. Sign that bears continue to sell on rallies. The silver lining in this case is that the bulls have not allowed the price to drop below the 20-day EMA ($1.23). Data that denotes that traders are buying on the dips of this support.
If the price of Klay breaks out and manages to sustain above the 50-day SMA ($1.27) and the bulls manage to break out of the downtrend line, it could signal a possible trend reversal. The KLAY/USDT pair could rally to $1.50 .
KLAY/USDT 4-hour chart
XTZ
In the case of XTZ, it rejected the downtrend line on February 10. The bears continue to sell on the rallies and are now trying to push the price to the uptrend line.
The 4-hour chart shows that “the pair is in a firm bearish grip. The price has dropped to the 61.8% Fibonacci retracement level at $3.32, which is an important level for the bulls to defend. A break and close below this support will increase the possibility of a drop to the 78.6% Fibonacci retracement level at $2.98 and then to the uptrend line.”
XTZ/USDT 4-hour chart
A breakout and close above the 20 day EMA will indicate that the selling pressure may be easing. The possibility of a short-term trend reversal will signal a breakout and close above the 50-day SMA.