What happened regarding the volatility in cryptos last week? Blame outflows from spot cryptocurrency exchange-traded funds.

According to a Reuters report, the Grayscale Bitcoin Trust (NYSEARCA:GBTC) recorded $1.9 billion in outflows last week. This statistic tipped the group of U.S. ETFs tracking the benchmark blockchain asset into net outflows for the week ending March 22, per data from BitMEX Research.

Notably, while there have been buying interest in new funds from major institutions since the U.S. Securities and Exchange Commission (SEC) approved the new crypto ETFs in January, it wasn’t enough to offset selling by Grayscale holders last week, Reuters noted.

Fundamentally, this dynamic leaves cryptos in an awkward position. Yes, the sector has recovered and perhaps the bullish response in hindsight was to be expected. After all, retail investors of virtual currencies tend to be ardent supporters.

Nevertheless, you can’t ignore institutional outflows. It’s the big money – the smart money – that dictates terms, not some random voice on the internet. Therefore, tactical flexibility is the key. Here are the cryptos to watch this week.

Bitcoin (BTC-USD)

As the benchmark for cryptos, all eyes naturally gravitate toward Bitcoin (BTC-USD). Notably, BTC secured the psychologically important $70,000 level. As of late Monday night, BTC gained over 5% in the trailing 24 hours. It’s up 8% in the past seven days. Still, there are some questions about sustainability.

On Monday morning, BTC was still trading hands at around the 67K mark. Suddenly, at approximately 8:30 am CT, Bitcoin shot higher, reaching the $71,000 level before seeing a vertical drop downward. At the moment, the crypto coin is jostling between bulls and bears near $70,500.

A key point to note is that there wasn’t a significant volume spike when the price rocketed to 70K. Therefore, investors need to carefully assess the potential viability of the move. According to Barchart’s Trader’s Cheat Sheet, below are the resistance levels to watch:

• Pivot Point 3rd Level Resistance: 82,529.98         
• Pivot Point 2nd Level Resistance: 76,821.42         
• Pivot Point 1st Resistance Point: 73,882.48          
• Price 3 Standard Deviations Resistance: 73,249.49            
• Price 2 Standard Deviations Resistance: 72,826.34            
• Price 1 Standard Deviation Resistance: 72,274.88

In the near term, BTC there is support between $68,638 to $69,612. Dropping below these levels could see a return to $67,000.

Ethereum (ETH-USD)

As the perennial number two among cryptos, Ethereum (ETH-USD) predictably enjoyed a strong performance recently. In the past 24 hours, ETH gained over 5% of market value. During the trailing seven days, it’s up more than 7%. Still, the popular decentralized digital asset also has some questions to answer.

In a similar dynamic to Bitcoin, Ethereum was trading around the $3,450 level on Monday morning. At approximately 8:30 am CT, ETH began rocketing higher, getting close to the $3,650 level before incurring resistance. Currently, it’s trying to make its way back up the summit, trading hands at $3,622.

My main concern is that we didn’t see a spike in acquisition volume when the price jump materialized. Data from Barchart shows a relatively even distribution of buying and selling volume across 30-minute intervals. Overall, the rising price has not been confirmed by rising volume. Looking at the cheat sheet, below are key resistance levels to watch:

• Pivot Point 3rd Level Resistance: 4,158.488         
• Pivot Point 2nd Level Resistance: 3,902.016         
• Price 3 Standard Deviations Resistance: 3,768.586            
• Pivot Point 1st Resistance Point: 3,767.455          
• Price 2 Standard Deviations Resistance: 3,743.686            
• Price 1 Standard Deviation Resistance: 3,711.236

Investors need to see the $3,555 support line hold. If it doesn’t, you may expect a volatile reaction.

Tether (USDT-USD)

As a stablecoin, Tether (USDT-USD) doesn’t the type of attention associated with cryptos; that is, we’re not talking about a capital gains play here. Instead, Tether represents a gauge of market health. In many ways, USDT provides liquidity to the broader blockchain ecosystem. By providing a quick means to address opportunities in the virtual currency space, a higher value for Tether relative to is dollar peg is generally a bullish sign.

At the moment, USDT trades for a 1:1 ratio with the greenback. Over the past week, following early sessions in the red, Tether traded largely above its dollar peg heading into the pop in Bitcoin and other cryptos. Moving forward, it’s important to consider this ratio as it could provide a signal about future movements in blockchain assets.

For those who pay attention to the granularity, these are the resistance levels to consider.

• Price 3 Standard Deviations Resistance: 1.002197             
• Price 2 Standard Deviations Resistance: 1.001921             
• Pivot Point 3rd Level Resistance: 1.001820           
• Price 1 Standard Deviation Resistance: 1.001561
• Pivot Point 2nd Level Resistance: 1.001298          
• Pivot Point 1st Resistance Point: 1.000995

Ideally, Tether should hold the line at the 1:1 mark. That’s because a sustained dip below parity may be a warning for other cryptos.

BNB (BNB-USD)

One of the cryptos that have “silently” made a comeback, BNB (BNB-USD) has returned to the number four slot in terms of market capitalization. At time of writing, this metric stands at just under $89 billion. However, it’s a tight race for this position. In the past 24 hours, BNB moved up 2% while over the past week it gained over 11%.

Similar to what we’ve seen with other cryptos, at 8:30 am CT Monday, BNB began shooting higher. It reached a peak of nearly $600 before the bears dampened the party. Now, one key difference compared to rival virtual currencies is that volume levels (based on 30-minute intervals) began rising since 8:30 am. So, there may be some additional credibility regarding this rally.

Still, bullish investors must monitor the below resistance levels:

• Pivot Point 3rd Level Resistance: 675.915             
• Pivot Point 2nd Level Resistance: 636.608            
• Price 3 Standard Deviations Resistance: 614.071
• Pivot Point 1st Resistance Point: 613.927              
• Price 2 Standard Deviations Resistance: 609.882
• Price 1 Standard Deviation Resistance: 604.424

Looking ahead, BNB stakeholders need the $578 support line to hold. If that fails, it wouldn’t be surprising to see a correction down to $550.

Solana (SOL-USD)

One of the hottest altcoins or alternative cryptos in the market right now, Solana (SOL-USD) has seen its edge soften. It’s not necessarily a cause for alarm in and of itself. However, SOL did lose the number four slot in terms of market cap. However, the bulls are attempting a comeback. In the past 24 hours, SOL gained almost 4%. In the past week, it’s up more than 3%.

Weaving a similar tale to other cryptos, Solana popped noticeably higher at 8:30 am CT on Monday. From there, it continued to swing higher, eventually reach a peak near the $195 level. Then, the bears came in, taking home some profits and thus leading to red ink in the charts. From 8:30 am, a noticeable rise in volume across 30-minute intervals transpired.

However, looking at daily intervals, acquisition volume has been declining since the March 15 session. Looking ahead, below are the resistance levels to watch:

• Pivot Point 3rd Level Resistance: 226.4703           
• Pivot Point 2nd Level Resistance: 210.2291          
• Price 3 Standard Deviations Resistance: 202.5334             
• Pivot Point 1st Resistance Point: 201.3937           
• Price 2 Standard Deviations Resistance: 200.7030             
• Price 1 Standard Deviation Resistance: 198.3175

For Solana stakeholders, it’s important for the $170 support line to hold. Otherwise, circumstances could get ugly in the near term.

XRP (XRP-USD)

While a popular altcoin, XRP (XRP-USD) is attempting to regain some technical credibility. It’s doing an okay job but the bulls need to hurry the process along as it’s underperforming many other cryptos. In the trailing 24 hours, XRP gained a bit over 2%, a relatively modest performance. During the past seven days, it moved up over 5%. Again, it’s not really a groundbreaking performance.

On the charts, XRP trades above the 50-day moving average (59 cents) and 200 DMA (58 cents). That’s the good news. The other encouraging element is that it’s above a horizontal support line that materialized around the 63-cent level. Still, it needs to make some forward progress.

Granted, XRP enjoyed some big moves ridding coattails of other cryptos from 8:30 am CT. After poking its head above the 66-cent mark, the bears came in. However, the concern is that without the Monday morning spike, XRP’s price action has looked unconvincing. Moving forward, these are the resistance levels to watch:

• Pivot Point 3rd Level Resistance: 0.732072           
• Price 3 Standard Deviations Resistance: 0.714147             
• Price 2 Standard Deviations Resistance: 0.702817             
• Pivot Point 2nd Level Resistance: 0.696742          
• Price 1 Standard Deviation Resistance: 0.688053
• Pivot Point 1st Resistance Point: 0.674575

Investors need to watch the support line near 62 cents. Price action below that could invite significant bearish activities.

Dogecoin (DOGE-USD)

As a popular meme, Dogecoin (DOGE-USD) offers speculators the opportunity for significant upside rewards. However, because we’re talking about cryptos in the wild, the opposite is also true: traders unaccustomed to the choppiness could suffer from severe volatility. Recently, though, DOGE has presented a compelling tale. In the past 24 hours, it’s up 3%. In the past week, its up nearly 33%.

Perhaps not surprisingly, it was a huge beneficiary when cryptos swung up on Monday morning. At 9:00 am CT, Dogecoin shot up beyond the 17.5-cent level. About half-an-hour later, DOGE peaked at approximately 18.7 cents. Subsequently, the bears quickly moved in, dropping the meme coin southward. At time of writing, Dogecoin is trading below 18 cents.

Looking ahead, investors should keep note of the below resistance levels:

• Pivot Point 3rd Level Resistance: 0.231075           
• Pivot Point 2nd Level Resistance: 0.208973          
• Pivot Point 1st Resistance Point: 0.195073           
• Price 3 Standard Deviations Resistance: 0.193464             
• Price 2 Standard Deviations Resistance: 0.191209             
• Price 1 Standard Deviation Resistance: 0.188270

Investors also need to be aware of key support lines. Basically, the levels between 17.1 cents to 17.4 cents must hold. Otherwise, the bears could attempt to drive the price down to the 13-cent level.

On the date of publication, Josh Enomoto held a LONG position in BTC, ETH, USDT and XRP. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.