Top 5 cryptocurrencies to watch this week: BTC, LUNA, NEAR, VET, GMT

Top 5 cryptocurrencies to watch this week: BTC, LUNA, NEAR, VET, GMT

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A few days of consolidation from BTC price could lead to a healthy bounce from LUNA, NEAR, VET and STEPN

The month of April has been a forgettable one for equities and cryptocurrency investors. Bitcoin (BTC) plummeted 17% in April to record its worst-ever April performance. Similarly, the Nasdaq Composite plunged 13.3% in April, its worst monthly performance since October 2008. 

However, a major positive for crypto investors is that Bitcoin is still above its year-to-date low, near $33,000. In comparison, the Nasdaq 100 has hit a new low for 2022, while the S&P 500 is just a whisker away from making a new year-to-date low. This suggests that Bitcoin has managed to avoid a major sell-off, indicating demand at lower levels.

Crypto market data daily view. Source: Coin360

Along with Bitcoin, Ether (ETH) has also managed to sustain well above its year-to-date low. According to cryptocurrency intelligence firm Jarvis Labs, both Ether whales and retail fish have been accumulating at lower levels.

After surviving the onslaught in April, could Bitcoin start a strong recovery and pull altcoins higher? Let’s study the charts of the top-5 cryptocurrencies that may outperform in the near term.

Source: Cointelegraph

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