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Top 5 cryptocurrencies to watch this week: BTC, SHIB, MATIC, ATOM, APE

Published 07/03/2022, 04:15 PM
Updated 07/03/2022, 06:00 PM
Top 5 cryptocurrencies to watch this week: BTC, SHIB, MATIC, ATOM, APE

Top 5 cryptocurrencies to watch this week: BTC, SHIB, MATIC, ATOM, APE

The bears are attempting to sink Bitcoin (BTC) below $19,000 to further cement their advantage over the crypto market. Analysts watching Bitcoin’s MVRV-Z Score, a metric which measures how high or low Bitcoin’s price is relative to “fair value,” expect an even deeper fall before the bottom is finally reached.

However, economist, trader and entrepreneur Alex Krueger pointed out that Bitcoin’s volume hit an all-time high in June. Usually, the highest volume in a downtrend is indicative of capitulation and that “creates major bottoms.” If Bitcoin follows the historical pattern of the 2018 bear market, Krueger expects the bottom to form in July.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView
SHIB/USDT 4-hour chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
MATIC/USDT 4-hour chart. Source: TradingView
ATOM/USDT daily chart. Source: TradingView
ATOM/USDT 4-hour chart. Source: TradingView
APE/USDT daily chart. Source: TradingView
APE/USDT 4-hour chart. Source: TradingView

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