Tezos and Cardano have been some of the top-performing altcoins in May/June and have battled for the top 10 spot on CoinMarketCap
Bitcoin’s break below $9,000 comes at a time when cryptocurrencies have struggled to sustain recent gains. This week begins with all the major digital assets trading in the red following dips over the weekend that saw the crypto market suffer mirror losses.
In the short-term, it’s a fight between the bulls and bears, with any let-up by the latter likely to offer initiative to the sellers. Here is a look at some of the top altcoins to keep on eye on this week.
Tezos
Tezos dove below its ascending channel heading into the weekend, with bears taking charge to push prices further south.
Bears hold the advantage as the coin is trading below the 50-day SMA with a bearish crossover imminent. A breakdown below $2.52 could affirm a short term flip that brings prices back to $2.24. The bears have already repelled moves at the 10-EMA, and shorts are likely to be more aggressive at prices between $2.58 and $2.52.
For the bulls, defending the aforementioned levels means the potential for an upside remains, with consolidation potentially preceding a breakout to $2.70.
Cardano
Cardano is trading near the 38.2% Fibonacci retracement level at $0.075 after a 7% pullback that has taken its price to lows of $0.0715. An uptrend is likely given the decline has cut the overbought levels and its 50-day simple moving average is pointing lower.
Ranked 10th-ranked among the largest cryptocurrencies, Cardano has been one of the standout performers as its
