Crypto to look out for this week BTC, ETH, HNT, WAVES, 1INCH

In the last 24 hours, the global crypto market cap has increased to $1.25 trillion. Cryptocurrencies are currently trading mostly green as Bitcoin is up 8%, with Ethereum jumping 11% at the time of writing this article.

Crypto To Look Out For This Week Btc, Eth, Hnt, Waves, 1Inch
Crypto Tree Map

Bitcoin (BTC)

As of this morning, Bitcoin is doing good and has gained a bit more than 5 to 6% over the past day. The percentage of holders profiting from their positions on the BTC market has increased in recent days and has gone above 60%. Currently, 61.16% of the total holders are In the Money, and 34.72% of the total holders are out of the Money.

Bitcoin In And Out Of Exchange Data
Bitcoin In and Out of Exchange Data

In the 4H timeframe, the price action of $BTC/USDT has formed a rectangle chart pattern. Price is strongly consolidating inside the rectangle.BTC needs breakout and closing above the resistance zone. We think It will reject to retest first and then back to try to break out the resistance.

Btc May 2022 Price Chart
Rectangle Pattern

Ethereum (ETH)

The percentage of Ethereum addresses producing profit from them has been dropping for a while now and reached a 22-month low. Currently, 53% of Ethereum addresses hold are profiting from their holdings.

Eth In And Out Of Exchange Data
ETH In and Out of Exchange Data

In the 4H timeframe, the price action of $ETH/USDT has formed a Bearish pennant where the price action hit its targets of it and bounced back from the Horizontal Daily Support level.

Eth May 2022 Price Chart
Bearish Pennant

Helium (HNT)

Helium is a cryptocurrency that has potential and will likely grow as the IoT becomes more popular. HNT is a blockchain-powered wireless service that provides a long-range connection to your devices. It is based on a peer-to-peer network that allows connectivity between devices. Experts are predicting a long-lasting price increase, so this may be a profitable investment.

In the 4H timeframe, the price action of $HNT/USDT has formed a Falling wedge pattern where the price action broke out of the Resistance trendline level, and after a successful retest, it formed an impulsive candle.

Falling Wedge Pattern
Falling Wedge Pattern

Waves (WAVES)

The Waves blockchain enables users to launch custom tokens without writing smart contracts. They can be purchased and traded easily, meaning they’re the ultimate startup fundraising solution. According to reports, Waves can be a good investment choice.

In the 1H timeframe, the price action of $WAVES/USDT has broken out the MARKET STRUCTURE BREAK level marked at the 4.51 level, where the price action changed out the Trend reversal and formed an impulsive level of the candle

Market Structure Break
Market Structure Break

1inch Network (1INCH)

The decentralized exchange aggregator platform 1inch Network has announced a partnership with the travel agency Travala. As a part of this new step, the Binance-backed business will add 1INCH as a payment option on their own platform. On the one hand, analysts think that 1inch Network will continue to grow in value in the future. On the other hand, others say that it is not worth investing as they predict a downward-trending price later on.

In 4H timeframe, the price action of $1INCH/USDT has formed out the Lower lows, and then the price action was into the compression zone where it was failing out to form the Lower lows where the market structure was marked at the 0.925 level, and the price action broke out that level and reversed the trend.

Market Structure Break
Market Structure Break

For any time, on-demand analysis on for any other coin can join our Telegram channel.

For on-demand analysis on any token or coin at any time, you can join our Telegram channel.

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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