Home
News
- 1 Many digital assets keep going in and out of trend based on many factors.
- 2 For investors, it is important to keep an eye on the movement of these coins.
- 3 To make the job of crypto investors easy, analysts pick the best coins of the week.
Cryptocurrency is one of the most profitable instruments for investment today. The blockchain-based digital assets have brought forth infinite possibilities. They aren’t only valuable for investors but also for industries seeking new fintech solutions. The decentralized ledger makes these assets a better alternative to fiat on many fronts. Therefore, they all become quite precious for every investor looking for short-term and long-term profits.
To make gains out of this volatile market, traders must closely examine this industry. Every week, some coins trend while some go out of investors’ radar. It all depends on various internal and external factors. Most active traders keep tabs on the ongoing tidings of the markets. However, they often require experts’ insights to stay ahead of the curve. That’s why, the specialists often come with their list of handpicked coins.
Cryptocurrencies To Keep An Eye On This Week
These digital assets have performed exceptionally well in the market. They drive the market due to multiple aspects and bring profits as well.
Bitcoin (BTC)
Bitcoin is going through a rough patch recently. It lost its value below $29,000 which was a significant drop. Since the last week, its resistance level has gone below $31,000. From the beginning of May, the rangebound price action points registered an increase in volatility. So, one needs to trade carefully with BTC right now.
Avalanche (AVAX)
Lately, Avalanche also suffered a fall to the $23 zone. Touted as an Ethereum killer, this coin was one of the hardest-hit coins over the last week. Nevertheless, it has shown impressive recovery and is gaining value now. AVAX went down by 20% in the last week and traded at $25.42.
Tron (TRX)
TRX has been one of the best-performing projects in terms of price gain. While every non-stablecoin asset fell down by 15%, TRX gained by 30%. That being said, TRX noted a 2.59% decline over the last 24 hours. The project’s ecosystem-focused developments have played a pivotal role in its uptrend.
Monero (XMR)
Like many other privacy tokens, Monero also turned bullish due to large market sell-offs lately. It noted the weekly gains of 1.52% and daily gains of 2.78% on the charts. The coin faced the mid-May low of under $170 but quickly recovered from it. The psychological support has also helped XMR gain value.
Ethereum Classic (ETC)
Crypto traders witnessed four consecutive green candles from 21 to 24 May. Despite that, it saw a downturn on May 25 and 26. Again, ETC bulls pushed the price to a weekly high of $25.69. The psychological resistance has helped the coin keep up the trend.
Conclusion
Crypto markets are highly volatile and unpredictable. Thus, it becomes essential for the participants to keep a close eye on the happenings. Analysts make the job of traders easy with their profound insights. They make it possible for everyone to trade and make profits in a risk-averse manner. Hopefully, this list will help investors make a quick buck in the near future. Still, it is important to do some self-analysis before indulging in any investment.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
