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The crypto market has been highly volatile recently, with major coins like Bitcoin (BTC) and Ethereum (ETH) seeing substantial price swings.
Many smaller altcoins have also been experiencing significant movements, presenting opportunities for traders to capitalize on the volatility.
In this article, we examine five cryptocurrencies that could make notable moves this week – and which should undoubtedly be on traders’ watchlists.
1. Bitcoin (BTC)
The first coin that investors may wish to watch this week is Bitcoin, which has been rangebound between $25,000 and $27,000 in the past seven days.
However, BTC has just broken above the upper boundary of this range and appears to be heading for the resistance zone around $28,000.
These price swings come not long after September’s sharp sell-off, which saw BTC briefly fall below the $25,000 level.
The good news for Bitcoin bulls is that the price immediately bounced back above this level, indicating a sizable amount of buying pressure around the region.
If Bitcoin can move above $28,000 this week, the short-term trend would likely flip bullish, setting the stage for the price to retest the $30,000 mark.
Additionally, the Crypto Fear & Greed Index has just ticked into “Neutral” territory, which suggests that market sentiment is balancing out – a factor that could promote more upside for BTC in the days ahead.
2. Solana (SOL)
Solana is another crypto to watch this week after seeing some bullish momentum recently.
SOL has rallied over 8% since Thursday, fuelled by positive sentiment around the upcoming Solana Breakpoint conference, which will showcase new projects being built on the network.
Analysts are now watching to see if SOL can break above the critical $23.00 resistance level, where the price struggled in the first week of October.
Should this occur, the next target for SOL could be the $25.00 level – which hasn’t been cleanly broken since July.
However, should SOL lose momentum and fall back below the 200-day Exponential Moving Average (EMA), it would negate the short-term bullish outlook.
In this scenario, the $21.00 level is the next minor support zone to watch if sellers take control.
Overall, Solana is building some positive momentum after lagging the market recently, making it one to keep an eye on this week.
3. Loom Network (LOOM)
Loom Network has recently been one of the most talked-about tokens on the market, rising over 115% in the past seven days.
LOOM is hovering around the $0.373 level, posting six bullish weekly closes in a row.
Although still 51% below 2018’s all-time high, Loom Network’s recent traction suggests renewed interest and solid fundamentals backing its growth.
Moreover, LOOM’s distance from its all-time high suggests more room for upside, especially considering the token’s recent momentum.
The network’s advancements and integration capabilities, combined with the growing interest in social media decentralized applications (dApps), have contributed to increased demand for LOOM tokens.
With more traders and investors becoming aware of its potential, the sentiment around LOOM is increasingly positive – leading many to speculate that it could hit the $1 level before the end of the year.
4. Bitcoin Minetrix (BTCMTX)
Another coin to watch closely this week is Bitcoin Minetrix (BTCMTX), one of the most talked-about projects in the presale space recently.
Since the presale began less than one month ago, Bitcoin Minetrix has raised almost $1.6 million in funding, attracting investment from crypto enthusiasts worldwide.
Currently in Stage 2 of its ten-stage presale, BTCMTX tokens are on offer for $0.0111 – although their price will increase by 10% once the stage’s funding goal has been hit.
Much of the buzz around Bitcoin Minetrix’s presale has been driven by the platform’s “Stake-to-Mine” protocol, which allows everyday investors to take part in Bitcoin mining without needing expensive computing equipment.
Additionally, Bitcoin Minetrix allows users to stake their BTCMTX tokens and earn yields of 372% per year at the time of writing.
Given that the next Bitcoin halving is only 6-7 months away, Bitcoin Minetrix has positioned itself as a viable option for those looking to capitalize on any increase in the BTC price.
With high-profile names like Joe Parys stating that BTCMTX tokens have “big potential,” this could be another trending coin to watch in the coming days.
5. Band Protocol (BAND)
Lastly, Band Protocol is another cryptocurrency worth close attention in the week ahead.
This decentralized oracle network serves as a bridge, connecting real-world data and APIs to smart contracts on multiple blockchains.
Built on Cosmos’ SDK, the “BandChain” stands out due to secure cryptographic proofs and impressive scalability.
A significant part of Band Protocol’s ecosystem is the BAND token, which is crucial to securing the decentralized oracle network through a delegated Proof-of-Stake (DPoS) system.
By staking the BAND token, validators can earn a share of query fees and block rewards as incentives.
Currently, BAND is ranked sixth on CoinMarketCap’s list of trending cryptocurrencies, with the token’s price up 41% in the past 24 hours.
With BAND having breezed through the 50-day and 200-day EMAs, there’s growing belief among token holders that the price could continue rising this week – potentially returning to the highs of late April.
