Search ForexCrunch

Looking 5 cryptocurrency to watch for a price rebound? You’re in the right place. The cryptocurrency market is bleeding heavily after the People’s Bank of China (PBOC), the central bank of the Asian economic giant, stepped up its crackdown on crypto trading activities. Commercial banks in China have been instructed to close all channels supporting crypto-related activities, including closing customer accounts. AliPay and other payments companies have also been instructed to do likewise.

Massive losses have been recorded in Bitcoin and other digital, as the week’s trading opened amid gusts of headwinds. Bitcoin revisited the support at $31,000 while Ethereum is hunting for support marginally under $20,000. Similarly, Ripple also dived from last week’s range to retest May’s support at $0.65.

As the market stabilizes, some crypto assets will offer investors huge price rebounds this week. Hence, crypto-assets such as Bitcoin, Binance Coin, MATIC, Solana, and Amp are noteworthy.

Here are the 5 cryptocurrency to watch this week with a view to buy on the cheap

1. Bitcoin price bulls could throw another jab at $40,000

The bellwether cryptocurrency appears to have settled above $32,000. As the crackdown on crypto trading activities, Bitcoin bulls are expected to stamp their feet down, aiming for gains above $40,000.

In the same way, various technical indicators suggest a potential recovery starting with the TD Sequential Indicator. This specialized tool has a buy signal in the form of a red nine candlestick. In addition, the signal on the 12-hour chart implies that buyers are ready to take control even as the bearish momentum fades.

On the other hand, the Relative Strength Index (RSI) seems to have started recoiling from areas closed to the oversold region. Closing the gap toward the midline will call more buyers into the market; thus, validating the uptrend. On the upside, a daily close above $36,000 will catapult BTC closer to $40,000 as massive buy orders are triggered.

BTC/USD 1-day Chart

btcusd price chart 21 june 2021

2. Binance Coin (BNB) Price Aims For Weekly Close Above $400

Binance Coin dived under $300 amid the crypto massacre witnessed over the weekend and on Monday morning. The exchange coin stretched the bearish to $290 before reclaiming the support at $300. At the time of writing, BNB trades at $310 amid a growing bullish momentum.

This week’s Binance Coin price rebound prospects are colossal, especially with the growing demand for the coin on the exchange as traders pay fees. Binance exchange encourages traders to pay trading fees with BNB to access discounts.

At the same time, if Binance Coin makes a close above the 50 Simple Moving Average (SMA), buyers will be encouraged to leave the sidelines and join the market amid renewed speculation for gains beyond $400.

BNB/USD 4-hour Chart

bnbusd price chart 21 june 2021

3. Polygon (MATIC) Price Primed For Liftoff To $1.7

Polygon (MATIC) price lost a considerable amount of its value from last week’s highs of $1.7. As a result, support at $1.2 has been retested, with buyers looking forward to throwing another jab at $1.7.

The asset’s price action has sustained within the confines of an ascending parallel channel since May 24 crash to $0.75. Meanwhile, the channel’s middle boundary provides immediate support. If this anchor remains intact, investors can anticipate a breakout aiming for $1.4 and $1.7, respectively.

Realize that the Relative Strength Index (RSI) is near oversold conditions. Therefore, a rebound to the midline is crucial to the resumption of the uptrend and worth watching out for. On the upside, trading above the channel’s upper trend line would bolster MATIC price into a trajectory for gains beyond $1.7.

MATIC/USD 4-hour Chart  maticusd 4 hour chart 21 june 2021

4. Solana (SOL) Price May Flash A Crucial Buy Signal

Following the downswing from highs around $44, Solana has revisited areas under $30. Several tentative support areas failed to rise to the occasion amid the intense bearish push on the last few days.

At the time of writing, SOL trades at $30 while bulls battle for stability before working to recover. However, with support at $30 vulnerable, losses may likely extend to $26.5 before another upswing comes into the picture.

Meanwhile, the TD Sequential indicator will likely present a buy signal on the 12-hour chart in the coming sessions. This call to buy will manifest in a red nine candlestick. With formidable support, investors are encouraged to buy low and speculate on the price hitting June highs of $44. Therefore, holding above $26.5, if not $30, is critical to restarting Solana’s recovery journey.

SOL/USD 4-hour Chart

sol usd 4-hr chart 21 june 2021

5. A golden Cross Pattern Could Be Amp Price Ticket To New All-time Highs

Amp is the last of 5 cryptocurrency to watch on cheap price. Amp has recently hit a new all-time high above $0.1 but the upswing stalled at $0.12. As buyers hunted for support, the token that provides support for other cryptocurrencies to be used in real life was caught up in the selloff on Monday morning.

Support has been established at $0.07, with Amp lifting to trade at $0.079. On the upside, a cute resistance is anticipated at $0.1, but the long-term technical outlook aims for new record highs.

It is worth keeping in mind the golden cross formation on the 12-hour chart. The pattern comes into the picture as a shorter-term moving average crossed above its longer-term moving average. For instance, the 50 SMA has crossed above the 100 SMA, sending a bullish signal.

AMP/USD 4-hour chart

ampusd 4 hour chart 21 june 2021

A close above $0.7 will secure market stability, while another close above $0.1 will validate the uptrend for another trajectory to $0.2.