London, Europe Brief News – For this week, top five cryptocurrencies are BTC, ETH, NEAR, MANA, and LEO. Bitcoin remains the top currency of all time for bring the pioneer of cryptocurrency. Ethereum also maintained its second slot with $2,839 on February 4. Let’s explore all the top 5 pick one by one.
1. BTC/USDT
Bitcoin experienced a huge spike and closed above the 20-day exponential moving average of $39,600 on Feb 4, hinting at a great comeback from bulls.
The relative index has gone into a positive trajectory, suggesting that the bulls are in the game big time.
The bears are looking to mount strong resistance in the zone between the 50-day simple moving average of $42,860 and $44,500. The 4-hour chart shows a clear picture of ascending triangle formation, which closes above $39,320.
The bulls aim to take the price to 45,722, which is currently stuck in between $42,168 and $40,843.
2. ETH/USDT
Ether (ETH) experienced an enormous spike and closed above the 20-day EMA of $2,839 on February 4.
ETH has reached the descending channel’s resistance line and shows that the bear may push to defend it with all its might. The 4-hour chart suggests that the price increases continuously inside an ascending channel pattern.
The 20-EMA and the 50-SMA can be seen, and RSI is in the positive territory, indicating that the bulls are leading.
3. NEAR/USDT
NEAR protocol crossed the psychological support zone at $10 to $9.50 and crossed the 20-day EMA $12.58 barrier on February 4. The bears pushed their hard to bring the price down below the 20-day EMA, but the bulls stood strong against bears.
The 4-hour chart indicates the symmetrical triangle formation, which works as a continuation pattern but, in this case, will work as a reverse pattern.
4. MANA/USDT
Decentraland (MANA) closed above the 20-day EMA of $2.70 on January 31 but dropped down from the 50-day SMA of $2.93. The bears made their efforts to bring back prices below the 20-day EMA but failed to do so.
The 4-hour chart suggests that both the 20-EMA and the 50-SMA are leveling up and RSI to be in the overbought zone. This indicates that the bulls are leading at the moment. Any dip from the current stage could take it into moving averages.
5. LEO/USD
UNUS SED LEO achieved an ascending triangle pattern after breaking and closing above $3.92 on February 1.
The bears pushed a lot to pull back the prices below the breakout level, but the bulls held their ground to keep the bear at bay.
The 4-hour chart shows the pair is correcting in an uptrend. The bulls have been successful in defending 20-EMA and trying to push the pair to $5.
