Buy, Sell Or Hold BTC, ETH, XMR, VET, And AAVE?

The recent price surge of bitcoin, now hovering around $19.000, is the main indicator of the current strength of the crypto market and the consequence of the mainstream recognition cryptocurrencies are gaining this year. And, even though Bitcoin is grabbing most of the headlines, other virtual currencies are also observing signs of increased investors’ confidence too, especially Ethereum which saw a meaningful inflow of funds from institutional investors lately. We’ll take a quick look at the trends and conditions of top-five cryptocurrencies this week.

Should I Buy, Sell Or Hold BTC, ETH, XMR, VET, And AAVE?

The last couple of days saw the bears aggressively trying to defend the $19,500 to $20,000 zone, but Bitcoin remained above the 20-day exponential moving average ($18,188) indicating that the bulls are heavily investing on every minor dip. The price should continue to go up, jumpstarting the next phase of the uptrend with the first target objective at $21,140. However, if the bears manage to sing the price below the pennant, the BTC/USD pair could drop to $17,200. As neither the bear nor the bull investors have a clear advantage at this point, the best course of action should be to wait for the price to break above or below the pennant before making any more new significant investments.

ETH/USD

Ether experienced a strong rebound from the 20-day exponential moving average ($555) on December 5th, an indicator of bullish accumulation at the lower levels. The next step for buyers is to try to above the $622.807 to $635.456 overhead resistance zone which could start the next uptrend leg driving the price to $800. The bears are also aggressively trying to turn the price down, and if they succeed, it may make the bullish setup invalid.

XMR/USD

During the last week, Monero (XMS) has been trading near the $135.50 overhead resistance. The target set by the bulls is at $167 and the 20-day exponential moving average continues to rise at $126 with the flat 50-day SMA indicating a balanced ratio between the supply and demand. If the price remains over 135.50 it will give the advantage to the bulls, while the drop below the 50-day simple moving average of $122 should give the upper hand to the bears. The potential push above the $135.50 to $142.80 resistance zone could start the next leg of the uptrend.

VET/USD

At the moment, the bulls are attempting to drive the value of the VeChain (VET) over the $0.01755 overhead resistance. The sustained price above the resistance will complete a rounding bottom pattern. All of the market indicators, including rising moving averages in the positive zones, point to the solid position the bulls are in. On the other hand, the bears are pushing for a dip below the 20-day EMA ($0.0150) and, if they are successful the pairing may end up at $0.014. Depending on who proves to be more successful, VET/USD may propel the price above the $0.01755 to $0.01861963 overhead resistance zone or dip to $0.0145 and then to $0.0125.

AAVE/USD

During the last couple of days, AAVe has been trending up with a 20-day exponential moving average ($74) and RSI both on the positive side, indicating that the current advantage is on the side of the bulls. If this continues and they manage to push the price above $94.87, AAVE could see the rise all the way to $124.075. The bears have been aggressively fighting back trying to keep $94.875 in resistance. The price dip below $79.20 could see the pairing drop to the 20-day EMA.