Crypto market analysis: what the new week will bring

Crypto market analysis: what the new week will bring


The main push for the crypto space has painted most of the crypto assets green, and some of them have been re-recorded by a significant margin.

Review of prices for major crypto coins

Major coins such as BTC, ETH, etc. have chosen very narrow margins, but they have also jumped sharply in the past week.

Bitcoin (BTC) up 6.8% over the week

Weekly BTC chart

Weekly BTC chart

Bitcoin, which had a very narrow trend and struggled to reach at least close to the $ 11,000 mark, is now successfully holding above that mark. The digital asset received a major push in stages, which caused the Bitcoin price to soar above the $ 11,300 range. USA.

Last week, the BTC got a huge boost in 3 stages. The first phase helped the price overcome a narrow trend and reach the range of $ 10,900. The second push led to the fact that the price exceeded the value of $11,000 – up to 11090. And finally, the third pump led to the fact that the digital asset rose above the indicator of $11,300.

BTC is currently valued at $ 11,389. 56, with an increase of 0.58 percent over the past 24 hours, and is expected to rise with a huge price increase. However, the next resistance level is at 11,530, and the support value is formed at 11,100 $.

Ethereum (ETH) added 5.98%

Weekly ETH chart

Weekly ETH chart

With the Bitcoin rally, most digital assets have taken off with good performances. Ethereum has also grown significantly, adding almost $50. The ETH price breaks out of a narrow range to test the resistance levels at $ 366.64 and form new levels.

The current value of ETH is $ 374.11 with an increase of 0.89 percent over the past 24 hours. New resistance ranges are formed at the value of $ 384, and support levels are strong, which are expected to hold the Ether

XRP up 1.35%

Ripple weekly chart

Ripple weekly chart

Ripple’s XRP managed to take off long before BTC rose from $0.23285 to $ 0.25438. However, shortly after the push, the rate fell slightly to 0.24660, then rose again to 0.25929, and fell to $ 0.24049.

XRP is currently valued at $ 0.255053 with an increase of 1.59 percent over the past 24 hours. The resistance levels are $0.26002 and the support levels are $ 0.24385.

Of the top 100 cryptocurrencies by capitalization, the largest growth was shown by REN (REN), adding 24.2% in price, now its cost is $ 0.391030.

Nervos Network (CKB) has fallen by 4.0% more than others over the past 24 hours, now its price is equal to $0.00477706.

Thus, the capitalization of the cryptocurrency market rose to $365.6 billion. The share of bitcoin is 57.6 per cent.

Collectively, the crypto space that entered the correction phase has now reached a bullish trend, and most coins have soared with significant values. This trend is expected to continue for a long time.