Top 5 cryptocurrencies to watch this week: BTC, VET, SOL, EOS, FTT

Bitcoin (BTC) price witnessed a sharp dump to $50,900 on April 18, which some analysts attribute to a drop in hash rate and rumors of possible action by United States regulators against unnamed “financial institutions” alleging crypto-related money laundering.

While it is difficult to pinpoint a single reason, the sale of roughly $5 billion worth of COIN stock by Coinbase executives could have also played a major role in the fall. Insider selling, especially just a few days after a high-profile listing is considered a bearish sign.

Crypto market data daily view. Source: Coin360

After this most recent pullback, investors will be on the fence on whether they should buy the dips or close their positions in anticipation of further decline? Traders should keep a close watch on the strength in the recovery as that will provide an insight about the next possible move.

Let’s study the technicals of the top-5 cryptocurrencies that could attempt to lead the recovery in the next few days.