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 above $29,00 for the past few days and is currently trading near the higher end of its range. Most coins have been showing a steady uptrend, with Ethereum breaking above the $1,600 level. The buying pressure on Ethereum has increased as it inches closer to its all-time high of $2,000.
Cryptocurrencies Price Heatmap, Source: Coin360
BNB, XRP, ADA, DOGE, and SOL also show bullish momentum. Binance Coin (BNB) has rallied above the $200 level, with green candlestick patterns indicating a possible bullish breakout in the near future. XRP has been trading above $0.50 with increasing buying pressure and a potential upward trend forming. Dogecoin’s price analysis shows an interesting pattern, with fluctuations between $0.058 and $0.061, indicating a potential breakout in either direction depending on market sentiment.
Cardano (ADA) has been showing strong bullish momentum, with its price surging above $1 for the first time since this month. The altcoin Solana (SOL) has also been making significant gains, with its price rallying above $40 and showing potential for further growth.
BTC/USD
According to weekly crypto price analysis, Bitcoin has been trading near the $29K mark for the past few days after setting a new all-time high of $30,000 since the close of July 2021. 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 $30,102, with a weekly surge of +12 percent, and is expected to break the $31K mark in the upcoming days, acting as the next resistance level.
BTC/USD weekly chart, source: TradingView
The 20-EMA and 50-EMA are both moving upward, indicating a bullish trend. The Relative Strength Index (RSI) has been holding around the 60 level, which suggests that the current uptrend is likely to continue. The moving average indicator also points 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 near its upper resistance level of $1,600. According to weekly crypto price analysis, ETH has seen an impressive +4.88 percent surge in the past seven days and is now holding above its crucial support level of $1,500. If the bullish momentum continues, ETH may soon surpass its all-time high of $2,000.
ETH/USD weekly chart, source: TradingView
The weekly technical indicators show strong bullish signs, with the 20-EMA and 50-EMA both pointing upwards. The RSI is holding above the 40 level, suggesting buyers are in control and may continue to push the price higher. The moving average indicator also shows a bullish trend, with the 50-day MA being well above the 200-day MA. The MACD indicator also supports a bullish outlook, with the MACD line above the signal line.
BNB/USD
Weekly crypto price analysis for Binance Coin (BNB) shows a strong uptrend in the past week, with the altcoin surging above $200. On October 16th, BNB retraced from the downtrend line, but bulls prevented the price from falling below the 20-day EMA ($210), which is a good indication. This shift in attitude, from selling on rallies to purchasing on dips, is reflected in the price action.
BNB/USD weekly chart, source: TradingView
At the time of writing, BNB/USD is at $214, with a weekly gain of +4.00 percent. The asset is currently hovering near the resistance level of $200, and if the bullish momentum continues, it may soon break this level. The technical indicators for BNB also support a bullish outlook, with the RSI holding above selling pressure and the MACD indicator in bullish signal mode.
XRP/USD
The XRP token, known for its infamous lawsuits and controversies, has finally seen a bullish trend in the past week. After trading under $0.50 for most of October, XRP/USD broke above this level and since then has been trading around its resistance level of $0.50. According to weekly crypto price analysis, XRP has seen a surge of +7.51 percent in the past seven days and is currently trading at $0.0.5228.
The moving averages have become horizontal, and the RSI is slightly over the middle. Indications point to the possibility of the XRP/USD pair fluctuating between $0.46 and $0.56 for an extended period. If the price remains higher than the moving averages, the pair has the potential to surge towards the overhead resistance level of $0.56.
XRP/USD weekly chart, source: TradingView
Conversely, if the price dips below the exponential moving averages, it will heighten the likelihood of a decline to $0.46. The upcoming significant shift is expected to be above $0.56 or below $0.41.
ADA/USD
Cardano (ADA), the Eighth-largest cryptocurrency by market cap, has seen an impressive surge in price in the past week. Cardano’sonce again slipped to the strong support at $0.24 on Oct. 19, but the bulls held the level successfully. The positive divergence on the RSI indicates that the bearish momentum is reducing. The ADA token currently trades above $0.2500, with bullish pressure indicating a possible upward trend. Currently, the ADA is at $0.261, with a 24-hour surge of 3.96 percent.
ADA/USD weekly chart, source: TradingView
The weekly technical indicators for ADA show bullish signs, with the 20-EMA and 50-EMA both pointing upwards. The RSI is holding above the 40 level, suggesting buyers are in control and may continue to push the price higher. The 20-SMA and 100-SMA also point upwards, indicating a potential bullish trend. The moving average convergence divergence (MACD) indicator also supports a bullish outlook, with the MACD line above the signal line.
SOL/USD
The altcoin Solana (SOL) has been making headlines recently with its impressive price rally. The asset surged above $29 for the first time in this month, setting a weekly and a monthly high at $29.50 on October 21st. According to weekly crypto price analysis, SOL has seen an incredible surge of +33 percent in the past seven days and is currently trading at $29.45.
SOL/USD weekly chart, source: TradingView
If bullish momentum continues, SOL may soon break above $35 and set a new high. The technical indicators for SOL also support a bullish outlook, with the RSI holding above 60 and the MACD indicator in bullish signal mode. The exponential moving averages also point upwards, indicating a potential uptrend continuation. The 20-EMA and 50-EMA move upwards, while the 100-EMA acts as a strong support level.
Weekly crypto price analysis conclusion
Weekly crypto price analysis of popular digital assets shows that most are showing bullish signs and may surge to new all-time highs soon. The green candlestick pattern on the weekly charts also suggests that buyers are in control and may continue to push prices higher. Technical indicators also support a bullish outlook, with buying pressure expected to continue in the coming weeks.
