Bitcoin's Muted Performance
The S&P 500 Index saw a significant surge last week, while Bitcoin had a much more subdued performance with a rise of approximately 2%. However, a positive sign for cryptocurrency investors is that a risk-on sentiment is likely to benefit the crypto space.
Bitcoin Price Analysis
Bitcoin continues to trade near the $35,000 resistance and has formed an ascending channel pattern. A strong rebound off the 20-day exponential moving average will suggest that the bulls remain in command and may attempt to thrust the price above $36,000.
Cosmos Price Analysis
Cosmos (ATOM) rose above the $7.60 resistance and completed a double bottom pattern. The bulls defended the breakout level, indicating the resumption of the uptrend. The next target for ATOM/USDT is $8.91.
Uniswap Price Analysis
Uniswap (UNI) reached the overhead resistance of $5 but has been unable to overcome it. The moving averages have completed a bullish crossover, indicating that the bulls have the upper hand. If buyers propel the price above $5, the next target could be $6.
Near Protocol Price Analysis
Near Protocol (NEAR) has seen a sharp rise in the past few days, indicating a potential comeback by the bulls. If the price remains above $1.63, the next target for NEAR/USDT is $2. However, the overbought levels on the RSI suggest a possible consolidation or correction in the near term.
Axie Infinity Price Analysis
Axie Infinity (AXS) has been in a strong recovery phase, but the bears have been selling near $6. If the bulls can push the price above $6, the next targets for AXS/USDT are $6.55 and $7. However, a drop below the 20-day EMA could lead to a deeper correction to $4.65.
Please note that this article does not contain investment advice. Readers should conduct their own research and make their own decisions when it comes to investing.
