Besides Bitcoin, several major cryptocurrencies are consolidating close to their overhead resistances and could offer buying opportunities in the short-term. The coronavirus pandemic has crippled the United States’ economy, which is staring at its worst recession since the Second World War. To counter this, the U.S. Federal Reserve has pumped trillions of dollars into the economy. These measures are may result in hyperinflation in the future. Therefore, investors are buying gold and Bitcoin (BTC) to hedge their portfolios. Crypto market data daily view. Source: Coin360 Crypto market data daily view. Source: Coin360 The top-ranked cryptocurrency by market capitalization has generated increased participation from institutional investors, according to numbers reported by the Chicago Mercantile Exchange. Contrary to the expectations of a few analysts, BTC has remained strong post-halving and is attempting to break above the psychological resistance of $10,000. If successful, it is likely to pull several altcoins higher. Let’s look at the top five cryptocurrencies that could offer trading opportunities this week. ETH/USD Ether (ETH) is trading inside the ascending channel, which suggests that the trend is up. The bulls have pushed the price above the downtrend line, which had been acting as stiff resistance for the past few days. ETH-USD daily chart. Source: Tradingview ETH-USD daily chart. Source: Tradingview This suggests that the bulls have overpowered the bears and the uptrend is likely to resume. If the second-ranked cryptocurrency on CoinMarketCap sustains above the downtrend line, a rally to $227.097 is possible. A break above $227.097 could result in a rally to the resistance line of the ascending channel at about $240. Although the 20-day exponential moving average is still flat, the relative strength index has broken out of the downtrend line, which suggests that bulls are at a slight advantage. However, if the bulls fail to sustain the price above

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