Weekly crypto price analysis also shows that the cryptocurrencies have gained significant value over the past week. After a continuation of last week’s dip, the bulls have taken back control of the market and most coins are trading in green. Most of the cryptocurrencies are recovering from their losses and are trading in a range-bound manner near their respective resistance levels.
The price of Bitcoin had increased to $31,000 due to the positive impact of a few BTC spot ETF applications and the encouraging comments of Fed Chair Jerome Powell about stablecoins, which has boosted the confidence of crypto investors in the market. ETH has been hovering above the $1,800 level, with bulls struggling to breach the resistance at $2,000. XRP had managed to reach its resistance level near $0.52 but is struggling to break above.
Cryptocurrencies price heatmap, Source: Coin360
BNB has also been trading in a range-bound manner, keeping up with the market momentum and rising to $255 levels. ADA increased to its weekly high at around $0.3041. The Dogecoin price has been increasing steadily and is trading around $0.2798. However, a few coins like TON, Quant, and RPL have recorded a minor dip in their prices due to a correction from their weekly highs.
BTC/USD
Bitcoin’s performance in the last week has been characterized by massive price fluctuations and volatility, with the price reaching a high of around $31,000. The bullish sentiment surrounding Bitcoin has been strong, and it is likely to remain so in the coming week. BTC has gained more than 15 percent in the last 7 days and has managed to stay above the $30,000 mark.
Currently, the BTC is at $30,720, with a 24-hour gain of 2.18%. Looking ahead, it is likely to remain supported by the lower $29k region and may soon surge toward its resistance level near $31.5k or even higher if the bulls remain in control.
The 20-EMA on the weekly chart indicates that the momentum is bullish, and there could be further bullish pressure in the near term. The MACD indicator chart has formed a positive crossover, suggesting that BTC/USD may continue to remain under buying pressure in the coming days. The RSI is present at 62.89, suggesting that the BTC price is in the neutral zone and may rebound if buying pressure increases in the coming days. The moving average indicator is also indicating that the price is trading in a bullish zone, as the 50-Weekly MA is present above the 100-Weekly MA.
ETH/USD
The Ethereum price has been in a bullish trend for the past week, and it has managed to stay above the $1,800 level. On June 20, the bulls kept buying and raised the price above the 20-day EMA ($1,781). This indicated that the bears were weakening. The bullish momentum increased on June 21, causing the ETH/USDT pair to exceed the downtrend line. As a result, the pair is anticipated to surge toward the psychological resistance at $2,000.
ETH is present at $1,892., with a 24-hour gain of 0.82%. The 20-EMA on the weekly chart indicates that the momentum is bullish and there may be further buying pressure in the near term. The MACD indicator has formed a positive crossover, with the MACD line (blue) above the signal line, suggesting that the bulls may take control of the market in the coming days. The RSI is present at 55.71, indicating that ETH/USD may remain supported by its current level and could possibly rise toward its resistance level if buying pressure increases in the near term. The moving average indicator is also showing a bullish trend at $1,800 as the 50-Weekly MA is present above the 100-Weekly MA.
XRP/USD
Weekly crypto analysis for XRP reveals that despite being volatile, the coin has managed to remain above its $0.50 support level. The bulls have been trying to break the resistance at $0.52 but they have not been successful yet. However, if the buyers can push past this level, XRP may surge toward its next resistance near $0.56 and possibly higher in the coming days. The XRP touched a low of $0.47 on June 20th and has since been in a bullish trend.
XRP is currently at $0.4925, with a 24-hour gain of 1.2%, and a weekly gain of 8.6%. Looking ahead, the 50-EMA on the weekly chart is currently above the 100-EMA, indicating that XRP/USD may remain in a bullish trend for the coming days. The Histogram on the MACD chart has been increasing, indicating that the buyers are in control of the market. The RSI has been hovering around 54.57, a neutral zone, suggesting that there may be a possible correction in the near term. The moving average indicator is currently at $0.47, indicating that the price is in a bullish zone.
BNB/USD
The Binance Coin (BNB) has been trading in a tight range for the past week, with bears and bulls struggling to push the prices up or down. BNB touched a weekly high of $255 on June 22, before retreating to its current levels of $245. The price has been trading in a range-bound manner and is currently poised for more gains if the bulls can break through resistance near $300.
The moving average indicator is currently at $290, just below the current BNB price. The relative strength index (RSI) is present at 36.06, indicating that the pair may head to the oversold region before bouncing back up in the near term. The MACD indicator chart has formed a neutral crossover, with the MACD line (blue) and the signal line (red) moving side-by-side, suggesting that the current price momentum may remain unchanged for some time.
ADA/USD
Cardano’s ADA token has seen a healthy increase in its market cap over the past week, with bulls continuing to push the price up. ADA touched its weekly high of $0.3041 on June 22nd and a weekly low of $0.2551 on June 20th, indicating that the bulls and bears are struggling for control of the market. Currently, ADA is present at $0.2956 with a 24-hour gain of 1.9%.
Looking ahead, ADA/USD may remain supported by its current levels or even rise if buying pressure continues to increase in the near term. The relative strength index (RSI) is present at 39.44, indicating that the pair may remain in a neutral state before bouncing back up. The moving average convergence divergence (MACD) indicator chart has formed a positive crossover, with the MACD line (blue) above the signal line (red), suggesting that there could be further bullish pressure in the near term.
DOGE/USD
Dogecoin (DOGE) has been trading in a bullish trend for the past week, with some minor swings in the price. At the time of writing, DOGE is present at $0.2798 with a 24-hour gain of 0.9%. Strong support is present at $0.06500, and there is resistance near $0.69698, and if the buyers can break through this level, DOGE may surge toward its next resistance at $0.7500. On the downside, if bears manage to break the support, DOGE may drop toward its next support at $0.6000.
The technical indicators for DOGE are looking bullish The relative strength index (RSI) is present at 42.50, suggesting that the pair may remain neutral before bouncing back up in the near term. The MACD indicator is currently at -0.00459, with a negative crossover, indicating that DOGE/USD may turn bearish in the coming days. The moving average indicator is also showing a bullish trend at $0.07071 as the 50-Weekly MA is present above the 100-Weekly MA.
Weekly crypto price analysis conclusion
Overall, the crypto market sentiment remains bullish and analysts expect prices to rise further in the near term. The bullish momentum may continue for the majority of coins, additionally, the sellers need to be aware of the strong support levels. Bulls are expected to take control of the market and push prices higher as long as these key support levels remain intact. The coming week will be crucial for the crypto market as the prices could either surge toward their respective resistances or break through support levels and drop further.
