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Trending Crypto Coins to Watch: BTC, FLOW, THETA & QNT

trending crypto coins
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What are the trending crypto coins that investors should be watching this week?

The latest economic news from the US suggests cryptocurrency markets may have more room to rebound from the downturn earlier this year.

Job Market

The US jobs report on August 5 exceeded market expectations, indicating inflation hasn't dropped. Strong figures diminished the chance that the Fed will delay rate hikes.

CME Group data shows a September rate hike of 75 basis points is now 68% likely. Fundstrat analysts disagree.

The S&P 500 bottomed six months before the Fed's last rate hike on three out of six occasions. In the year's second half, it's anticipated that the S&P 500 could surge to 4,800. If the correlation between equities and crypto markets holds, the crypto markets may have more room to rebound.

If Bitcoin (BTC) does go through the $25,000 mark, there is no substantial barrier until $26,000 to $28,000, according to Material Indicators. Could Bitcoin break through the resistance and drag altcoins higher?

Trending Crypto Coins: BTC/USDT

Analysis shows that Bitcoin has been trading near the 20-day exponential moving average (EMA) of $22,719 for a few days, indicating a bull-bear struggle. The bulls have held the level, but haven't rebounded strongly. This signals lower demand.

The fact that both moving averages have flattened and the RSI is just over the middle indicates that buyers and sellers are balanced. Buyers could gain if they push the price above $24,668. If they do, BTC/USDT might climb to $28,000 and perhaps $32,000. If bears do pull the price below the 20-day EMA, the pair might fall to a 50-day SMA of $21,719.

If this support breaks, the uptrend line may be next. The last four-hour chart showed $22,400 to $23,648. Again, both of the moving averages have flattened, and the RSI is midway, indicating a supply-and-demand balance.

If bulls push the price above $23,648, the pair might reach $24,668. Bears will have a short-term advantage if the price falls below $22,400. The pair could fall to the uptrend line of solid support.

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Trending Crypto Coins: FLOW/USDT

Flow (FLOW) broke out of a tight trading range on August 4. This signals accumulation and a fresh uptrend. Bears are trying to arrest the uptrend near $3, but bulls haven't lost much ground. Traders aren't booking profits after the recent rally. This means that bulls have the upper hand as the 20-day EMA of $2.07 has risen, and the RSI is nearly overbought.

FLOW/USDT might surge to $4.60 if investors push the price above $3.00 to $3.30. The pair has turned down $3.00, but is finding support at the four-hour 20-EMA.

Bulls could retest $2.99 if the price rises above $2.80. The rise could resume if this level is broken. If the value goes below the 20-EMA, this pair might fall to the 50% Fibonacci retracement level of $2.41 and then to $2.27. A break below this level could favour bears and send the pair under $2.00.

Trending Crypto Coins: THETA/USDT

Theta Network (THETA) broke and closed above $1.55 on August 5, signalling a bullish range resolution. On August 6, bears sought to lower the price below the breakout mark, but bulls resisted. The 20-day EMA of $1.39 is rising, and the RSI is bullish, favouring buyers.

If bulls keep THETA/USDT over $1.65, a new rally toward $2.10 could begin. If bulls overcome this resistance, the pair might climb to $2.60. Bears must pull prices below $1.55 to invalidate this bullish perspective.

If so, aggressive bulls may get trapped, and the pair may decline to moving averages. The four-hour chart indicates that bulls bought the decline to the 20-EMA. Both four-hour moving averages are rising, and the RSI is near overbought, indicating bullish momentum.

If bulls retain $1.65, the uptrend may restart. A closure below the 20-EMA will signal weakness. If so, the duo might hit the 50-SMA. Bears must push prices below this level to end the rally.

Trending Crypto Coins: QNT/USDT

Quant (QNT) rallied from its June 13 low of $40. It seems that bulls have aggressively bought the dip below the 20-day EMA of $103 on July 26. Bulls drove the price above $115 on August 6. The rise resumed.

The QNT/USDT pair could rally to $154 to $162, where bears may defend. Bulls will try to turn $115 into support if the price drops. If so, the pair's upswing might resume. Bears must push prices below the 20-day EMA to win.

The pair is on an uptrend, but the four-hour RSI is overbought, suggesting a near-term pullback. Bulls should purchase declines to 20-EMA. If they do, it will show that traders are buying on dips. That increases the likelihood of an uptrend.

If the price drops below the 20-EMA, the pair might fall below the 50-SMA. A break below this level could send prices to $100.

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Author: Hassan Alzaza

Author: Hassan Alzaza

My Name is Hassan Al-Zaza, I am a detail-driven and experienced SEO Content Writer living in Germany with over ten years of experience developing and producing top-notch content. I have a Bachelor's degree in English Language and Literature and a Master's in Business Communication. I have been working for 12 years in marketing, Content Writing, and ad Copywriting across SMEs, corporate, and public sector organizations in the EU and the Middle East region. I helped build brands for a wide range of successful companies from IT and software consultancies to the finance industry, tourism, and retail.

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