Top 5 Cryptocurrencies to Watch This Week: BTC, ATOM, LEND, XEM, YFI

Although the bears pulled the pair below $7.249, they could not sustain the price below it, which shows that the bulls are buying at lower levels. However, the positive thing is that the bulls have not allowed the price to dip below $0.70426, which is the 50% Fibonacci retracement level of the most recent leg of the rally.

The bulls are likely to defend the $0.1215678–$0.1129611 support zone, which are the 50% and 61.8% Fibonacci retracement levels of the most recent leg of the rally. If the pair rebounds off this level, it will be a huge positive as it will suggest that the bulls have defended the breakout level, which will increase the possibility that the uptrend will resume.

Timeline of Bitcoin, Nem