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Weekly crypto prices show the entire cryptocurrency market has retreated slightly from its recent rally, with most coins trading near support levels.
Bitcoin (BTC) held above $22,000 over the weekend before hitting an intraday high of $23,168. However, FTX’s bankruptcy announcement related to a previously announced token sale has since pushed BTC below psychological support levels, with Ethereum (ETH) continuing to trade near his $1,560 level, Buyers are struggling to break out of his $1,600 resistance. Prices of XRP, BNB, and ADA currencies are slowly declining, while Dogecoin (DOGE) remains relatively stable.
Most altcoins are also trading near support levels, with SOL and MATIC in particular suffering minor setbacks. YFI, UNI, and SUSHI are currently trading near support levels, and the value of DeFi tokens has also fallen. Overall, the crypto market is still trending bearish as current market movements seem to suggest that buyers are losing confidence in the recent rally.
Bitcoin/USD
Bitcoin price analysis shows that Bitcoin has been trading in a narrow range between $22,000 and $23,000 for the past few days. However, FTX’s bankruptcy announcement has pushed BTC below his $22,000 psychological support level. Prices have managed to recover slightly after that news, but remain vulnerable to further selling if buyers continue to lose confidence.
Currently, the BTC/USD pair is currently trading near $22,371 and is facing strong resistance at $22,444. The bears may try to break this support level in the next few days, which could lead to a deeper correction. BTC has lost more than 3.08% in value since the beginning of the week and is now in a 20-day exponential move It is trading below the average (EMA).
The Relative Strength Index (RSI) has broken below 52.26, indicating bearish near-term momentum. The moving average indicator is currently trending downwards, and if this continues, BTC could enter a correction phase in the coming days. The MACD histogram is also below the zero line, indicating that the bears are dominating the market.
Ethereum/USD
Ethereum price analysis shows the currency trading between $1,557 and $1,669 for the past few days. It looks like the bulls and bears have gotten involved in a battle for control of his ETH/USD pair, with the bears gaining the upper hand. ETH/USD he is trading at $1,560 with a strong resistance at $1,575 which may keep the price from going higher.
Ethereum coin trading volume has dropped significantly over the past few days, which could indicate that buyers have lost confidence in the asset. increased slightly by 0.15% from
The 50-day SMA has broken below the 200-day SMA, indicating a bearish crossover is underway. The MACD indicator has moved into negative territory and the RSI is at 51.23, indicating that the bears are currently dominating the market. The ETH/USD pair needs to break out of the $1,602 resistance level to resume the uptrend. If the bears manage to break the $1,570 support level, ETH could enter a deeper correction.
XRP/USD
Ripple has seen some volatility over the past 7 days, with a weekly high of $0.385 and current levels of $0.3757. Weekly Crypto Price Analysis Suggests XRP Has Made New Highs And Lows, Showing A Bullish Trend In The Short Term Trying to.
Technically, the RSI is showing overbought signals, while the MACD remains bearish, suggesting that some profit-taking is likely in the near future. The 20-SMA has broken below the 50-SMA, indicating that the bears are dominating the market. If XRP fails to break out of the $0.385 resistance level, it could enter a deeper correction to retest the support level. indicates that there is a possibility that
BNB/USD
Binance Coin has faced sideways movements in recent days, currently trading at $290.03, down from its weekly high of $309.50 on February 26. Crypto Market Analysis Shows Bull Can’t Push His BNB/USD Above His $309 Resistance Level, And The Currency Could Fall Further If Buyers Lose Confidence . BNB has lost more than 3.48% of its value over the last 7 days.
BNB/USD 24 volume has been steadily declining at a rate of 37% over the past 24 hours, suggesting that buyers may have lost momentum. BNB market cap also fell by 0.20% over the same period. The 50-day SMA has broken below his 200-day SMA, indicating further bearishness.
The RSI is close to the 50 level, indicating that selling pressure is building and the currency may suffer further losses. The MACD remains bearish and could fall further in the short term if it breaks below the $290 support level. The 20-EMA is below the 50-EMA. This means the bears are dominating the market. If BNB fails to break out of the $309 resistance level, it could enter a deeper correction in the coming days.
ADA/USD
According to Cardano’s price analysis, the ADA/USD pair has seen mixed trading with highs at $0.37 and lows at $0.33 over the past seven days. The ADA/USD pair is currently trading at $0.3414 with buyers trying to break out of his $0.35 level. This could be an important resistance level.
ADA/USD is up 1.00% over the last 24 hours, with market cap up 1.01% but trading volume down 46.61%. The SMA line is also showing a bullish trend, indicating that Cardano may continue to grow in the long term. Volatility remains high. The RSI is also showing oversold and is currently standing near the 45 level.
Doge/US Dollar
Dogecoin is currently trading at $0.0763 and is facing a bearish trend with a weekly low of $0.0746. Dogecoin price analysis shows that the DOGE/USD pair has lost almost 5.79% of its value over the past 7 days. However, a bullish trend is emerging today and the coin is currently trading above the $0.075 level.
The $0.0746 support level has been tested several times in the past, and if it breaks, the coin could enter a deeper correction, while the $0.07716 resistance level is a potential threat for bulls as buying pressure builds. It can act as a powerful hurdle.
Looking at the moving averages, the Moving Average Convergence-Divergence (MACD) suggests that the coin is trending bullish and that trend is likely to continue in the near future. The Relative Strength Index (RSI) is currently around 45.92, indicating that the coin is in an overbought zone.
The 20-day moving average is also above the 50-day simple moving average, indicating that the bulls have the upper hand. The moving average (MA) is also currently above the current price, indicating a bullish trend. If Dogecoin fails to break out of the $0.077 level, it could enter a deeper correction in the near future.
Weekly Crypto Price Analysis Conclusion
Overall, the weekly crypto price analysis shows mixed trends, with some coins trading at higher levels and others still facing resistance. The key is to identify breakout zones and enter them when opportunities arise. Additionally, technical indicators suggest that the market may be vulnerable to further losses if buyers lose confidence. It is important to note that it shows
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