Coinbase CEO Brian Armstrong believes that rise cryptocurrency prices will generate massive wealth for the crypto investors in the 20s. His friends, Olaf Carlson-Wee and Balaji Srinivasan wait Bitcoin's price to reach $200,000, due to which more than than half of the world's billionaires will be from the crypto space. Armstrong also anticipates that " a "privacy coin" or blockchain with congenital-in privacy features" will go mainstream in the 2022s.

A Burger Male monarch outlet in Venezuela has started accepting Bitcoin and a few other cryptocurrencies. This is likely to aggrandize to about 40 locations this twelvemonth. While this is a positive sign, previously, like initiatives in Russia and Europe have non been able to selection up momentum. This shows that most investors do not desire to spend their cryptocurrencies at the current levels as they look higher prices in the future.

Crypto market data weekly view

Crypto market information weekly view. Source: Coin360

In 2022, Bitcoin's cost largely remained in a range during the first quarter and fabricated a decisive move in the second quarter. Currently, Bitcoin seems to exist following a similar pattern of consolidation as of concluding year. Even so, with Bitcoin halving due in May of this year, the toll action is probable to pick up momentum soon.

While Bitcoin might have eye stage in a few weeks' time, currently, the altcoin space has been buzzing with action. A few of the top performers of the past week are showing signs of having bottomed out. Do we find whatsoever ownership opportunities in them? Let'southward analyze their charts.

BSV/USD

Bitcoin SV (BSV), which was the 2nd-best performer of the by calendar week, has continued its momentum and risen about 15% in the by 7 days. After the recent run-upward, should traders book profits or can the price rally further? Let'due south clarify its chart.

BSV USD weekly chart

BSV USD weekly chart. Source: Tradingview

The BSV/USD pair has broken out of the downtrend line and has reached the kickoff overhead resistance at $113.96. The moving averages are also located shut to this level, hence, we anticipate the bears to mount a strong defense force of the resistance.

A breakout of $113.96 can propel the pair to the next target at $155.38. Both moving averages are flat and the RSI has risen shut to the center, which indicates that the selling force per unit area has reduced.

Our bullish view volition be invalidated if the price turns down from the current level. In such a case, the pair might remain range-bound for a few more weeks. The downtrend volition resume if the bears sink the price beneath the $78.506 to $66.666 support zone.

XMR/USD

Monero (XMR) was the second-all-time performer of the past vii days, with a rally of about 13%. The privacy coin received a heave when Europol strategy analyst Jarek Jakubcek said in a webinar that the transactions conducted using the Monero blockchain were not traceable even later all-encompassing inquiry. While this characteristic might be positive, it volition besides pose significant hurdles from the regulators in the future. Has the altcoin bottomed out?

XMR USD weekly chart

XMR USD weekly chart. Source: Tradingview

The XMR/USD pair has broken out of the downtrend line. This suggests that the downtrend is probable over. The price might climb up to the moving averages, which will deed as a resistance. The flattish moving averages bespeak to a likely range-spring action for a few weeks.

A breakout of the moving averages might behave the price to $100 and above it to $121.427. Therefore, traders tin can purchase at the current levels and keep a stop loss of $38. If the toll struggles to intermission out of the moving averages, the stops can exist trailed college.

Our bullish view will be invalidated if the pair turns downwardly from the current levels and slides below the contempo lows.

ETC/USD

Ethereum Classic (ETC) was one time once again the tertiary-best performer of the by seven days, with a rally of nigh 6%. This shows that the bulls have been buying at lower levels. Does the technical picture indicate to farther gains? Allow'southward analyze its chart.

ETC USD weekly chart

ETC USD weekly chart. Source: Tradingview

The relief rally in ETC/USD pair has reached the 20-week EMA. Above this level, a move to the fifty-calendar week SMA is possible. We anticipate the bears to mount a potent defense at the fifty-week SMA. If the price turns downwards from this level, it might remain range-spring for a few more weeks. The flattish moving averages and the RSI close to the center also point to a consolidation.

All the same, if the bulls can push the toll in a higher place the fifty-week SMA, the traders can buy the remaining position equally suggested in our previous analysis. Higher up the moving averages, a rally to $seven.6 and to a higher place it to $10 is likely.

Our bullish view volition exist invalidated if the bears sink the cost below $iii.40. Therefore, traders can retain the stop loss on the long positions at $three.30.

BCH/USD

Bitcoin Cash (BCH) has also made it to the top performer list for the second successive calendar week. It rallied close to 5% in the by seven days. Do the technicals point to a farther rally or is information technology time to book profits? Permit's study the chart.

BCH USD weekly chart

BCH USD weekly nautical chart. Source: Tradingview

The relief rally in the past two weeks has carried the price to the top of the $227.01 to $192.52 range. Nosotros anticipate the bears to offering potent resistance at this level. The flattish moving averages also suggest a range-bound activity for a few weeks.

However, if the bulls can push the price above $227.01, the BCH/USD pair might move upwardly to the 50-week SMA and higher up it to $306. Therefore, traders tin can initiate long positions as suggested in our previous analysis.

Our bullish view will be invalidated if the pair turns down from the current levels and breaks beneath $192.52.

LEO/USD

UNUS SED LEO (LEO) with a proceeds of most 4% rounded up the top v performers of the past seven days. On Dec. 28, Bitfinex tweeted that it had completed the called-for of the first x million LEO tokens. Let'south clarify its chart to see if nosotros spot any ownership opportunities.

LEO USD weekly chart

LEO USD weekly chart. Source: Tradingview

The LEO/USD pair had been consistently making new lows for the past few weeks. This shows that the bulls did not believe that the price had get attractive enough for them to start accumulating.

However, closer to $0.80, we observe the first signs of buying. At that place is a small downtrend line, above which, a move to $1.025 is possible. The twenty-calendar week EMA is besides placed but higher up this level, hence, we conceptualize the bears to defend $one.025 aggressively.

If the price turns down from $i.025, the bears will attempt to resume the downtrend. A pause below $0.80 will bespeak the resumption of the downward motion. Notwithstanding, if $0.80 holds, the pair might enter into a period of consolidation. Nosotros practise not find any buy setups at the current levels, hence, nosotros propose traders remain on the sidelines. We will wait for the price to rise to a higher place $ane.025 before turning positive.

The views and opinions expressed hither are solely those of the author and practice non necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC substitution.