Top 5 cryptocurrencies to watch this week: BTC, VET, THETA, RUNE, AAVE

cointelegraph.com:

Bitcoin (BTC) is attempting to hold above its closest support level and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row.

April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the U.S. equity markets and Bitcoin continues, it could bode well for the crypto markets in the near term.

Another sentiment booster could be that the 19th million Bitcoin entered circulation on April 1. For the remaining 2 million Bitcoin, the crypto markets will have to wait for a long time because the last Bitcoin is expected to be mined by 2140. This could shift focus on how only a small quantity of Bitcoin is left to be mined and its growing demand could lead to scarcity and boost prices higher.

Could Bitcoin hold above its critical support and if it does, will altcoins rally? Let’s study the charts of the top-5 cryptocurrencies that may extend their recovery in the short term.

Bitcoin is witnessing a tough tussle between the bulls and the bears near the important level at $45,400. The bears tried to pull and sustain the price below this level but the bulls held their ground. This suggests that the bulls are attempting to flip the level into support.

The upsloping 20-day exponential moving average ($44,333) and the relative strength index (RSI) in positive territory indicate the path of least resistance is to the upside. The critical level to watch on the upside is the 200-day simple moving average ($48,276).

If bulls thrust the price above this barrier, the BTC/USDT pair is likely to pick up momentum. The