Top 5 cryptocurrencies to watch this week: BTC, LINK, HNT, FLOW, ONE

Bitcoin’s (BTC), relief rally climbed above $38,500 Jan. 29, but bulls are having trouble maintaining the higher levels. Bitcoin’s sentiment has closely tracked the U.S. equity market for the past few days. Analysts warned traders not to take too much in weekend rallies that occur when traditional markets are closed, as it could be a trap.

Analysts at trading suite Decentrader stated in a report that there is a possibility of a “near term relief bounce”. Reports also indicated that buyers were making an impact and could lead to a change in the trend in higher time frames from bullish to bearish.

Daily view of crypto market data. Source:Coin360

JPMorgan analysts seem to be bearish about Bitcoin’s recent decline. They believe that increased volatility could hinder institutional adoption.

If Bitcoin continues its recovery, some altcoins may attract aggressive bulls to buy them. Let’s look at the charts of top five cryptocurrencies that could help extend the recovery in the near term.


Bitcoin’s relief rally is now at the hard resistance zone of $37,332.70 to $39,600. This zone also contains the 20-day exponential moving mean ($39,475) which is important for bears to defend.

Daily chart of BTC/USDT Source: TradingView

Bears have an advantage because of the downsloping 20 day EMA and relative strength index (RSI), in the negative zone.

The BTC/USDT pair may drop to $35,507.01, if the sellers push the price below $37332.70. Later, it could retest the Jan. 24, intraday low of $32,917.17. Breaking and closing below this support could open the way for a drop to $30,000.

If the price rises above the current level, and breaks above $39600, this will indicate a change in the short term trend. The price could rise to $43,505 then test the 200-day simple moving mean ($48,833).

BTC/USDT 4-hour chart. TradingView

The 4-hour chart shows the 20-EMA is slowly rising and the RSI is in the positive zone. This suggests that bulls are trying for a comeback. The 200-SMA may be reached if buyers push the price higher than $39,600. This could act as resistance.

However, if the price falls below $37,312.70 (the current level), it will be a sign that the bears are not giving up. The sellers will attempt to lower the price to $35.507.01, which would be a significant support for bulls.

This will indicate that traders may be buying dips if the price bounces off of this level. This could increase the likelihood of a break above $39,000.


Chainlink (LINK), has been range bound between $15 and $36 for several months. Multiple attempts to escape this range have failed. This indicates that bulls are buying support while bears are selling resistance.

Daily chart for USDT LINK. Source: TradingView

In the last few days, the bears managed to pull the price down below $15 several times but could not maintain the lower levels. This could have attracted aggressive traders to buy the price higher than the 20-day EMA ($18.91).

The LINK/USDT pairing could reach the 200-day SMA ($24.75) if they succeed. Contrary to popular belief, if the price drops below the 20-day EMA, bears will attempt to bring the pair below $15 to start a new downtrend.

LINK/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows bulls pushing the price higher than the $16.88 overhead resistance. Bulls are showing a slight advantage as the 20-EMA is moving up and the RSI in positive territory.

The pair could begin a move up to $20 if buyers can hold the price above $16.88. If the price falls below $16.88, then it could indicate that bears are selling on rallies. This could lead to a drop in the pair to $14


The price of Helium (HNT), fell below the 200-day SMA ($26.67), but the bears couldn’t sustain lower levels. Bulls bought the plunge to $20 aggressively and drove the price up above the 200-day SMA Jan. 26.

Daily chart HNT/USDT Source: TradingView

The 20-day EMA ($28.84), which was the peak of the recovery, was broken. However, the bulls made sure that the price did not fall below the 200 day SMA. For the past three days, the price has traded between the moving averages.

This trading pattern of tight ranges is unlikely to last. The HNT/USDT pair could rise to $36 if bulls continue to drive the price higher than the 20-day EMA. After that, it will likely fall to the downtrend.

If the price falls below the 200-day SMA, this positive outlook will be invalidated. This could bring the pair down to $20.

HNT/USDT 4-hour chart. TradingView

The price broke the downtrend line and indicated that the bears might be losing their grip. Although the bears attempted to lower the price below the 20-EMA, the bulls were able to hold the support.

Bulls driving the price above $31 could give rise to a momentum-boosting up-move that could signal a bottom at 1-2-3. The 200-SMA is holding off, but the pair could move toward $40 once it is clear. If the price drops below $26, it could fall to $24.

Related: Bitcoin miners believe the global hash rate will grow aggressively


The Flow (FLOW), has been in a strong downward trend for the last few months. Although the bears managed to pull the price below $6 on Jan. 22, they were unable to capitalize on their advantage. This is a sign of accumulation at lower levels.

Daily chart of FLOW/USDT Source: TradingView

Today’s bulls push the price above the breakdown level ($6.41) and the 20-day EMA ($6.41). It will indicate a possible trend change if the price remains above the resistance level.

The 20-day EMA has slowed down and the RSI is back in the positive zone, indicating that bulls have made a comeback.

If the price falls below $6, this positive outlook will be invalidated. This will signal that bears are continuing to sell aggressively at higher prices.

FLOW/USDT 4-hour chart. TradingView

The 4-hour chart shows that the price is currently facing resistance at 200-SMA. This resistance is crucial because previous recovery failed at this level. The FLOW/USDT currency pair could fall to the 20-EMA if the price drops from its current level.

Bulls will buy on dips if the price bounces off of this level with strength. The buyers will attempt to push the price above the 200 SMA. The pair could rally to the overhead resistance zone of $9.27 to 9.70 if they succeed.


Harmony (ONE), is trading within a wide range between $0.16 to $0.36. Although the bears tried to lower the price within the range, the bulls held firm.

Daily chart of ONE/USDT Source: TradingView

The price is now above support. Bulls will attempt to push the ONE/USDT pairs above the 200-day SMA ($0.19). The pair could reach the 20-day EMA ($0.23) if they succeed. If not, bears will likely continue to resist.

If the price breaks and closes above the 20-day EMA, it could open the way for a rally to $0.28. If the price falls below the current level, bears will try to lower the pair below $0.16. It will be a sign of a possible new downtrend if they are able to pull it off.

ONE/USDT 4-hour chart. Source: TradingView

The formation of a symmetrical triangular pattern is evident in the 4-hour chart. The 20-EMA has flattened and the RSI is just above the midpoint, indicating a balance in supply and demand.

If the price continues to rise above the triangle, this indecision could be a tilt in the favor of bulls. This could indicate a trend reversal, and the pair might rise to $0.22 or $0.26.

If the price falls below the support line, this positive view will be invalidated. This will be a sign that the triangle was a continuation pattern.

You should research all aspects of trading and investment before making any decision.

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Donna Burk

Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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