BTC, WLD, and AGIX: The Must-Watch Cryptocurrencies of the Week
Bitcoin (BTC) experienced slight losses this week, although it managed to make a late comeback after facing bearish pressure for most of the week. On the other hand, altcoins Worldcoin (WLD) and SingularityNET (AGIX), which focus on artificial intelligence, recorded modest gains.
Despite Bitcoin’s downward trend, the global cryptocurrency market capitalization saw a small increase of 1.26%, adding over $30 billion to reach $2.4 trillion.
Bitcoin started the week with a downtrend, dropping over 5% in seven days. It closed below the 50-day EMA on April 16, marking a shift from a bullish sentiment to a bearish one. It retested the $59,000 territory on April 17 but managed to recover and gain 3.65% on April 18. Bitcoin hit a high of $65,450 after the halving but still traded at a loss for the week.
SingularityNET faced a downtrend last week, breaking below its 50-day EMA and reaching a six-week low of $0.6070 on April 12. It continued to slump until it retested the support at $0.7666 on April 18. However, it staged a comeback on April 20 and breached the upper trendline of the symmetrical triangle, coinciding with a push above the 50-day EMA.
Worldcoin experienced some notable moves this week. It saw a 6.88% drop on April 15 but remained in a consolidation phase. It had a 14.19% intraday gain on April 20, hitting a one-week high of $5.66 before facing resistance. On-chain data shows that it might have difficulties recovering the $6 psychological threshold.
Despite short-term bearish sentiments, Worldcoin has more room for growth according to its daily relative strength index (RSI), currently at 42. It would need strength from the broader market to push above $6.
Overall, Bitcoin faced losses this week, while altcoins like Worldcoin and SingularityNET recorded modest gains. The global cryptocurrency market capitalization saw a slight increase, driven by the performance of prominent altcoins.
