Weekly crypto price analysis shows that most of the coins have been trading close to their upper resistance levels, which indicates the possibility of a bullish breakout. Bitcoin has been ranging between $28,500-30,000 for the past few days and is currently trading near the higher end of its range. On 11 April, the asset reached an all-time high of $30,000, which was the highest price point since June 2022.
The second-largest asset, Ethereum, has been holding strongly above $1,900 for the past few days, but today ETH has hit $2,100, which is the highest price point of the week. The asset has been experiencing strong buying pressure due to the increasing DeFi interest and a surge in institutional investments. ETH is expected to break this level soon as the trend line suggests a bullish breakout in the coming weeks.
XRP has been trading around $0.50-0.52 level with positive momentum. The coin is expected to break the resistance level of $0.5438 in the near term. Binance Coin (BNB) and Dogecoin (DOGE) have also maintained their bullish momentum this week, with BNB holding above $325 and DOGE trading above $0.086.
Other major altcoins have also seen positive price movements this week, with Solana (SOL) recording an impressive +19.41% increase in the past seven days and other altcoins such as Avalanche, Aave, LTC, and Shiba Inu (SHIB) experiencing significant gains. However, also some bearish pressure was observed in the crypto market, but the overall market sentiment remains positive.
BTC/USD
According to weekly crypto price analysis, Bitcoin has been trading near the $30K mark for the past few days, after setting a new all-time high of $30,000 on 11 April. Analysts suggest that BTC may break this level soon, as the bullish trend line suggests a probable surge in price. Currently, the asset is trading at $30,739, with a weekly surge of +5.72 percent, and is expected to break the $31K mark in the upcoming days, acting as the next resistance level.
The 20-EMA and 50-EMA are both moving in an upward direction, indicating a bullish trend. The Relative Strength Index (RSI) has been holding around the 70 level, which suggests that the current uptrend is likely to continue. The moving average indicator is also pointing towards a bullish trend, with the 50-day moving average being above the 200-day MA. The MACD indicator has been in bullish signal mode, with the MACD line maintaining a higher position than the signal line.
ETH/USD
Ethereum has been trading on an uptrend since the start of the week and is currently trading near its upper resistance level of $1,900. According to weekly crypto price analysis, ETH has seen an impressive +11.48 percent surge in the past seven days and is now holding strongly above the $2,100 mark. Analysts suggest that this level may be broken with a possible bullish breakout in the coming weeks.
The 100-day moving average line is above the 200-day MA, indicating that ETH may enter into a bullish trend soon. The RSI has been holding near the 70 level, which suggests that the buying pressure remains strong. The MACD indicator has also maintained its bullish momentum, with the MACD line being above the signal line. All of these factors suggest that ETH may break its upper resistance level soon and possibly surge toward a new all-time high.
XRP/USD
Weekly crypto price analysis suggests that XRP has been trading above $0.50, with a +3.51 percent increase in the past seven days. Currently, the asset is trading at $0.5276 and if bulls break the resistance level of $0.5438, then this could be a major upside target for XRP. The support level for XRP is at $0.5092, which was tested when the bearish pressure intensified in the past few days, and if bears break this level, then the asset could potentially slide down to $0.49 in the near term.
The weekly technical indicators suggest that XRP may witness a bullish surge soon. The RSI has been steadily increasing since the start of the week and is currently holding above the 60 level, which indicates an uptrend in price. The MACD indicator has been in a bullish market also, with the histograms being positive and the MACD line crossing over the signal line. The moving average indicator is currently at $0.4317, which suggests that XRP has the potential to break its current resistance level soon.
BNB/USD
Binance Coin has been trading in an uptrend for most of the days in the past week, with a +5.88 percent price surge in the past seven days. The bearish pressure in the market intensified recently and BNB’s price dropped to $323. However, bulls were able to break this level soon after and the asset was now holding above $329. Currently, BNB is trading at $329 and its next resistance level is at $335, which may be broken if bulls maintain their bullish momentum.
The weekly crypto price analysis shows that the MACD line is currently above the signal line which is a bullish sign. The MACD histogram is currently in positive territory but is flattening out, which suggests that the market might enter into a consolidation phase in the near term. The green candlesticks are currently above the red candlesticks, which suggests that the bulls have an upper hand in the market.
The Relative Strength Index (RSI) has been steadily increasing since the start of the week and is currently at 55.69, which indicates that the buying pressure is still strong. The moving average indicator suggests that BNB is likely to break its resistance level in the near future. All of these factors suggest that BNB may witness a bullish surge soon.
DOGE/USD
Dogecoin price analysis reveals the digital asset has made higher highs and higher lows for most of the week, with a +7.55 percent surge in the past seven days. The bulls and bears are currently in a tug-of-war and DOGE is trading between the $0.084 to $0.091 range. However, bulls have managed to break the support level of $0.086 and DOGE is currently trading above this line. At the time of writing, DOGE is trading at $0.08907, with a 24-hour gain of +2.22 percent.
For most of the days, the buying pressure has been high in the market and the technical indicators also point to a bullish trend. The MACD line is currently above the signal line, with both lines heading upwards, indicating that bulls have an upper hand in the market. The RSI indicator is also holding near the 53.13 level, which suggests that buying pressure remains strong. The 50-EMA is currently above the 200-EMA, which indicates that DOGE may break its resistance level soon and possibly surge toward a new all-time high.
SOL/USD
Weekly crypto analysis of Solana shows that the digital asset has been on an uptrend for most of the days in the past seven days, with a +19 percent surge in price. The asset has been trading near its all-time high and is currently holding around the $24.00 level. The support level for SOL has been tested several times during the bearish pressure in the market, but bulls were able to break it each time and maintain a bullish trend. Currently, SOL/USD is trading at $24.43 and the next resistance level is seen near $25.46.
The buying pressure in the market has been strong and is indicated by the technical indicators. The MACD line is currently far above the signal line, indicating that bulls have an upper hand in the market. The RSI indicator is also holding steady around 40-60 level, which indicates that buying pressure remains high. The 20-SMA is also above the 200-SMA, which suggests that SOL may break its resistance level and surge toward a new all-time high. Both of these indicators suggest that SOL may break its current resistance level and surge higher in the near future.
Weekly crypto price analysis conclusion
Weekly crypto price analysis of popular digital assets shows that most of them are showing bullish signs and may surge to new all-time highs soon. The selling pressure and buying pressure are in a tug-of-war for most assets, but bulls appear to be winning the battle. The support and resistance levels are being broken and tested several times, which indicates that momentum is building and the digital assets may break out of their current ranges soon. All in all, the technical indicators point to a bullish trend for most assets in the near future.
