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CYBER Surges 600% – Top 5 Weekly Crypto Picks

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Bitcoin (BTC) and major cryptocurrencies like Ethereum (ETH) and Binance Coin (BNB) have faced price stagnation, with Bitcoin dropping below $26,000 and concerns rising about a potential retest at $24,000.

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Over the past few weeks, the overall cryptocurrency market has experienced a decline in prices. Many traders and investors remain uncertain about Bitcoin’s future, as indicators measuring uncertainty, fear, and greed suggest a lack of consensus on bullish prospects.



Despite the significant price drop in the market, some top cryptocurrencies have defied the odds. CYBER, for instance, has surged by over 600% in just a few weeks, while others like TRB, ID, and NRM have shown similar strength, signaling positivity as a new week approaches.

Data from Coin360.com reveals that the cryptocurrency market is currently characterized by bearish trends, with only a select few top 5 cryptocurrencies (CYBER, SHIB, XRP, ADA, TRB) significantly outperforming Bitcoin and others.

Bitcoin Price Struggles and Bearish Trends

Bitcoin’s Attempted Rally: Bitcoin’s price surged to $28,200 as bulls tried to push it above the $28,500 resistance level. However, bears quickly pushed it below $27,400, suggesting the rally might not be genuine.

Bearish Dominance: Bears continued to exert control, driving the price below $26,500. Now, it appears the price may retest key levels at $24,000 or $23,700, which are areas where bulls might consider buying more Bitcoin.

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Bearish Signals: Bitcoin currently trades below both the 50-day and 200-day Exponential Moving Averages (EMA), signaling a bearish sentiment. The $24,000 range is seen as an important level for bulls as it has shown strong demand in the past.

MACD and RSI Indicators: The Moving Average Convergence Divergence (MACD) on the daily timeframe indicates a bearish trend. However, the Relative Strength Index (RSI) suggests an oversold condition, raising the possibility of a potential trend reversal in the near future.

Ethereum Faces Bearish Pressure as Key Levels Break

Ethereum’s Price Struggles: Ethereum (ETH) has faced challenges in its price movement, with bears rejecting it around the $1,750 region. Currently, Ethereum trades below both its 50-day and 200-day Exponential Moving Averages (EMA), signaling a bearish sentiment for ETH bulls.

Bearish Scenarios for ETH: If Ethereum’s price falls below $1,600, it could open the door for bears to push it down to $1,500 or even $1,450. These levels appear to have more support against selling pressure.

Weekly Top 5 Cryptocurrencies

Amid the overall market slowdown, let’s explore the top 5 weekly cryptocurrencies (CYBER, SHIB, XRP, ADA, TRB) that have been outperforming Bitcoin and identify potential buying opportunities.

1. CYBER Price Analysis: A Top 5 Cryptocurrency to Watch

CYBER USDT PRICE ANALYSIS

Impressive Gains: CYBER, a social network token, has become a major point of interest for traders and investors. In less than a week, the CYBER/USDT pair saw an astounding rally of over 600%, generating substantial profits for its holders. It has emerged as the top-performing cryptocurrency of the week.

Strong Support: After being listed on prominent exchanges, CYBER/USDT established a solid base support at $3.8. Breaking above its 50-day Exponential Moving Average (EMA) signaled bullish momentum, propelling the price to reach $16 before encountering slight resistance.

Growing Popularity: Onchain data reflects a significant surge in trading volume for CYBER, attracting traders and investors eager to participate in this emerging trend. CYBER is drawing comparisons to social tokens like Friend.tech and X (formerly Twitter).

Critical Support Level: To sustain its bullish trajectory, CYBER needs to maintain support above $7.1. This level aligns with a crucial support and demand zone, representing a 50% Fibonacci Retracement value (50% FIB Value). A breach of this level could signal bearish control, with potential buy orders likely at around $4.5.

Future Outlook: With CYBER gaining traction as a cryptocurrency sensation, it might revisit the $10.5-$11.7 price range. MACD and RSI indicators for CYBER/USDT suggest further bullish price action in the upcoming weeks, even amidst uncertainties surrounding Bitcoin.

Key Support Zone for CYBER/USDT: $7.1

Key Resistance Zone for CYBER/USDT: $16.8

MACD Trend: Bullish.

2. Shiba Inu (SHIB) Daily Price Analysis

SHIB USDT PRICE CHART

Resilient SHIB: Shiba Inu (SHIB) has maintained its strength following a bearish downturn, starting from a high of $0.00001100, after a successful breakout from a bullish triangle.

Current Position: SHIB/USDT is trading just below its 50-day Exponential Moving Average (EMA) but remains above the 50% Fibonacci Retracement value (50% FIB value). This suggests that there’s still a chance for bulls to shift SHIB’s current trend into a bullish one.

Indicators: Despite bearish signals from the MACD and RSI daily trends, SHIB/USDT is trading above 32.8% of its FIB value, which corresponds to a support level at $0.00000730. This presents a potential entry point for long positions and for investors looking to buy into SHIB.

Bullish Potential: A potential bullish trend could emerge if SHIB/USDT rallies above $0.0000850, placing it above its 50-day EMA. Such a move might signify a resurgence of the SHIB community, potentially driving the price higher to a range between $0.00001100 and $0.00001200.

Key Support Zone for SHIB/USDT: $0.00000750

Key Resistance Zone for SHIB/USDT: $0.0000850

MACD Trend: Bearish

3. XRP Price Analysis: Top 5 Crypto to Watch

XRP USDT DAILY 1D PRICE CHART

Mixed Signals: Despite increased on-chain activity and growing engagement in the XRP ecosystem, the path to $1 for XRP/USDT remains uncertain. In July 2023, XRP reached a high of $0.94 following news of its legal victory.

Post-Lawsuit Struggles: However, XRP faced rejection from a high of $0.93, and its legal win had limited impact on its price. The cryptocurrency has been range-bound for weeks, unable to break through the $0.55 resistance due to persistent bearish pressure.

Downtrend Potential: The daily price chart suggests that XRP/USDT might continue its downtrend towards the $0.45 region, which has historically served as a significant demand zone for traders and investors looking to accumulate more XRP.

Bearish Indicators: XRP/USDT currently trades below the 50-day moving average and the 23.6% Fibonacci retracement value (23.6% FIB Value), with the price experiencing nearly a 100% retracement from its initial surge to $0.94.

MACD and RSI Signals: Both the MACD and RSI indicators for XRP point to a bearish outlook, indicating that bears are in control and suggesting the possibility of further price declines in the days or weeks ahead.

Key Support Zone for XRP/USDT: $0.45

Key Resistance Zone for XRP/USDT: $0.55

MACD Trend: Bearish.

4. Tellor (TRB) Daily Price Analysis

TRB USDT PRICE CHART

Consistent Gains: Tellor (TRB) remains a strong performer with ongoing bullish price action as it heads into a new week. Although it hasn’t achieved a profit percentage of 100%, TRB/USDT continues to display positive price movement, setting its sights on $20.

Recent Struggles: In recent weeks, TRB/USDT encountered challenges in regaining bullish momentum, with bears pushing its price down to around $9. However, it rebounded strongly from this support level, surging to a high of $18.

Support and Resistance: TRB/USDT successfully reclaimed the 50-day Exponential Moving Average (EMA), which now acts as a supportive factor for its price. The next target is the $20 mark, but the price initially faced resistance around the 78.6% Fibonacci retracement value (78.6% FIB value).

Positive Signals: TRB/USDT currently trades above both the 50% Fibonacci retracement value (50% FIB value) and the 50-day EMA, signaling the potential for a more bullish price trend.

MACD and RSI Indicators: The MACD and RSI indicators for TRB suggest a bullish trend, indicating that bulls may seek additional opportunities to drive prices higher.

Key Support Zone for TRB/USDT: $13.6

Key Resistance Zone for TRB/USDT: $20

MACD Trend: Bullish

5. Cardano (ADA) Price Analysis: A Top 5 Crypto to Watch

ADA USDT DAILY PRICE CHART

ADA: The Bitcoin and Ethereum Competitor: Cardano (ADA) has been hailed as a potential rival to Bitcoin and Ethereum, thanks to its unique design and use case. However, ADA/USDT has struggled to live up to the high expectations.

Bearish Struggles: Despite reaching a peak of $0.45, ADA/USDT has faced significant pressure from bears. The price of ADA has plummeted from its yearly high of $0.45 to a yearly low of $0.255.

Current Situation: ADA/USDT is currently trading within a demand zone, where traders and investors are eyeing opportunities to accumulate ADA in the hopes of a swift price increase. A bullish rally from this zone could lead ADA to retest $0.28, which acts as resistance and aligns with the 50-day Exponential Moving Average (EMA).



Critical Support: To prevent further downward pressure from bears, ADA’s price must hold within this demand zone. If the bulls can maintain this level, there’s potential for a minor price rebound.

Key Support Zone for ADA/USDT: $0.280

Key Resistance Zone for ADA/USDT: $0.255

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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Author

  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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