Author: Gideon Geoffrey

Internet computer is seeing small price decreases at this time. This comes as no surprise as the coin was climbing several resistances over the last seven days.

A look at the chart suggests that the coin has been on an uptrend following a massive decline last week Tuesday. It opened trading at $12 but dropped below $11 and hit a low of $10.7 before rebounding. It closed with losses of more than 11%.

Recovery started the next day as it opened and it climbed back to $11.9 and closed with gains exceeding 9%. Another key event took place on Sunday. It opened at $13.5 and surged to a high of  $15.3. Although is had small decreases, it ended the day with gains of more than 12%.

The bullish trend continued into the current week as the coin had one of its biggest surges. It started the day at $15 and attempted the $18 resistance. It faced massive rejection at $17.9 but closed with gains of more than 16%.

Internet Computer Flips $20

It broke $20 during the previous intraday and peaked at $20.5. It experienced strong corrections and lost half its accumulated gains. Nonetheless, it registered gained of more than 7%. This marked the start of a grinding halt of the bullish pattern.

For the first time in eight days, the coin is seeing a red candle. This comes as it retraced from $20.9 and is down by a few per cent.

A look at indicators hold mixed expectations. Nonetheless, one of the key levels to watch is the $16 support.

With the new week entering day two, may traders are reflecting on how price performed during the previous session and how they might play out over the next five days.

The global cryptocurrency market cap closed with losses of almost 5%. This comes as it started trading at $2.56 trillion at the start of the said period. However, several cryptocurrencies suffered notable losses as selling pressure mounted. As a result, it dropped to a low of $2.36 trillion. The bullish trend resumed and the industry returned to its opening price.

However, it retraced and close at $2.46 trillion. At the time of writing, the said sector is down by almost 2% in the last 24 hours.

Nonetheless, the previous week produced some top gainers. One such was ICP. It started trading at $12 but dropped to a low of $10.5. It recovered and closed at $15 which signifies a more than 20% positive change.

The last 24 hours were also bullish for some altcoins. One such is BONK. The memecoin gained more than 6%. Other assets like BEAM and SUI gained 10, and 8% respectively.

With the current trajectory of the market, the question of whether these assets will continue their surge hangs in the air.

Top Three Cryptocurrencies

Bitcoin (BTC)

Bitcoin is currently close to registering a new all-time high. However, this was not the case during the previous week. This comes as the candle representing that period resemble a hammer with a long wick sticking out. This means that it returned to a level it hasn’t in more than ten days.

This happened on Tuesday when it started exchanging at $67,600 and retraced after attaining a small high. Due to a sharp increase in selling volume, the apex coin had a massive price decline. As a result, it broke the $62k support and dropped to a low of $61,447. It ended the day with losses of more than 8% amidst attempts at recovery.

The next day was the opposite as the coin reclaimed the lost levels. This is also the same bullish trend this week. BTC opened the previous intraday session at $67k and tried returning to $72k but halted due to strong rejections at $71,213. Although it had a little correction, it gained more than 4%.

Current price suggests that the largest cryptocurrency tried returning to the said level but failed after hitting a new high. Nonetheless, indicators like the Moving Average Convergence Divergence are showing signs of more price increases.

At the time of writing, the metric is showing a trend reversal from the previous bearish divergences. The 12-day EMA halted its downtrend and is on an uptrend at this time. The 26-day EMA is also heading down. With the current trajectory, both metrics will hit each other in a bullish convergence.

With this in mind, BTC may continue its uptrend and reclaim $72k. However, a slip to $64K is likely as A/D suggest that the current uptrend is unsustainable.

Internet Computer (ICP)

Internet computer had a notable volatility during the previous intraweek session. It reclaimed the price marks it lost two weeks ago. A look at the weekly candle attests to the massive price movement. The candle has a long wick sticking below it.

The action responsible for the decline took place on Tuesday. It started trading at $12.3 but retraced after a small hike. It broke its 20-day support as it slipped below $12 to a low of $10.7. Although it saw a small recovery, it closed with losses of more than 11%.

Following that single-day decline, ICP resumed its uptrend and ended the session with gains of more than 20%.

The new week is a spillover from the previous bullish trend. During the previous intraday session, the altcoin attempted $18 but failed due to string rejections at $17.9. It gained more than 16% and is still on the uptrend. It is currently up by more than 7%. This comes after it broke $18 and the $20 resistance.

However, according to price movements, the uptrend may be coming to an end. Following its peak at $20.5 ICP is experiencing corrections. As a result, its candle is forming an inverted hammer which may indicate the end of an uptrend.

One of the key levels to watch is the $17 support. Although not one of the toughest, a flip could guarantee a return to $14. On the other hand, it may attempt $22.

 

The past week was one of most bearish for major coin is the crypto market. This comes after several lost considerable amounts of their value during this period. Due to this, the global cryptocurrency market also saw a decrease in worth.

The week began with a global cryptocurrency market cap of $2.60 trillion, but it continued to rise steadily thereafter. As a result, the sector reached its peak at $2.77 trillion by the third day. However, following this peak, a slight downtrend ensued. By the end of the week, the industry’s value had dropped to a low of $2.52 trillion.

This marked the first time in over three weeks that the global cryptocurrency market cap closed with significant losses, following a nearly 5% decline in the previous intraweek session.

Despite the overall bearish sentiment in the market, certain altcoins saw notable increases. One such altcoin is Jupiter, which started the previous seven-day session at $0.78 and closed at $1.42. During this period, it surpassed the $1.50 mark and even approached $1.60, ultimately closing with gains of over 80%. Similarly, Fantom experienced a similar trend, with gains exceeding 13% during the same period.

Conversely, major assets witnessed significant price declines. The question remains: will this downward trend persist over the next five days?

Top Three Cryptocurrencies to Watch

Bitcoin

Ethereum

Solana

With the bulls market in full swing, most top coins are returning to levels they haven’t in more than two years. One is setting a new all-time high while memecoins are on the rampage in the crypto market. All this happened during the previous intraweek session.

In the last seven days, cryptocurrency has seen impressive growth in its value. The previous week was opened at $2.38 trillion. Nonetheless, it lost momentum after dropping to its lowest for the session when it hit $2.42 trillion. As a result, it dropped to a low of $2.36 trillion. It soon recovered as seen in the chart.

The sector climaxed at $2.62 trillion, near the end of the period being considered but closed a little low. Within the week of the previous session, it ended with more than a 5% gain.

Some of the top gainers over the last seven days were meme coins. So many of them were hosted by the Solana Ecosystem, one of which is Dogwifhat. This asset gained more than 40% following its launch. Other meme assets though still under, may get introduced to the market formally in the coming days. Will an escalation in price be seen like the previous meme assets?

Nonetheless, the week is currently looking robust with volatility.

Top Three Cryptocurrencies to Watch

Bitcoin

Ethereum

Dogecoin

BNB and the rest of the crypto market are seeing a lot of gains at this time. When predictions of an impending downtrend fill the space, sudden increases take over. This has been the trend over the last seven days.

Nonetheless, this trend had a significant effect on the global cryptocurrency market cap. For the first time in almost a year, the crypto market’s valuation is above $2 trillion. Starting the previous intraweek session, the sector under consideration was valued at $1.97 trillion. A closer look at the chart suggests that trading continued flatly for the most part before a small breakout on Sunday. As a result of this change in trend, it crossed $2 trillion.

Nonetheless, the close suggests that the industry failed to register any significant gains during this period. On the other hand, some altcoins had notable increases during this session amidst the flat trades.

One such asset was Uniswap. The asset surged by more than 40% during this period. It is also worth noting that a bulk of the surge took place on Friday as it cruised past several resistance. It was heading for the $13 resistance but had strong rejections at $12.8.

With a focus on the new week, most cryptocurrencies are on the uptrend. Will this pattern last for the whole week?

‏Top Three Cryptocurrencies to Watch

Bitcoin

Ethereum

Chain link

Most cryptocurrencies are gradually pushing the global cryptocurrency market to its highest valuation in more than two years. This is evident as the sector recorded significant gains during the previous week. It opened trading at $1.80 trillion and hit $1.87 trillion during the next intraday session. It continued upwards as it broke through $1.90 and surged to a high of $1.97 trillion.

The closing price reflects an almost 10% increase in value. This further shows the general bullish sentiment of the market at this time. The Fear and Greed index is at 74 which shows the greed in the crypto market. This is one of the highest it has attained in more than a month.

Altcoin also contributed to the tremendous increase in the value of the global cryptocurrency market cap. It started the previous week at $993 billion and continued its uptrend. It reached its highest on Friday as it climbed as high as $1.16 trillion. Although lower at this time, the alt market’s worth suggests that some assets peaked during the period under consideration.

One such was the Worldcoin. The coin saw a massive increase in its use-case as its daily activity increased. It daily users crossed 1 million for the first time since its introduction to the market. As a result, it had a massive surge in price. It closed the previous week with gains of more than 140%. Will the surges continue over the next five days?

Top Three Cryptocurrencies to Watch

Bitcoin (BTC)

Near Protocol (NEAR)

NEAR had another good performance during the previous week. This comes as no surprise as it continues its bullish it started two weeks ago. As with that period, it also registered significant gains and flipped several resistances.

One such was the $3.50 resistance it broke on Sunday. It started trading at $3.33 and started its hike. As a result, it broke the said level and peaked at $3.58 as it hit a brick wall in its bid for $3.60. It is worth noting that it ended the day above the said mark and closed with gains of more than 5%.

Nonetheless, before the last day’s actions, the altcoin also had a good start to the week. It started Monday at $3.12 and broke its fourteen-day high. It peaked at $3.39 as it failed to flip $3.40. It soon closed following small retracements with gains of more than 8%.

With a focus on the week, Near is not off to a good start. The previous day’s candle doji with one of the tiniest bodies. This means that the coin failed to register any notable change in value. This is changing at the time of writing as it is seeing more price declines. A few hours ago, it dropped to a low of $3.32 from an open at $3.53.

Although its recovering, it is still down by almost 4%. Indicators are silent as to next price actions. Nonetheless, if current trend continues, the asset may drop to a low of $3.15. On the other hand, it $4 in the coming days.

Apecoin (APE)

 

Last week, the top 10 largest cryptocurrencies saw significant increases in value during the previous intraweek session. As a result, most of them attained levels they have in more than a high. Others retested key barriers.

The surge in the prices of these assets also showed in the global cryptocurrency market cap. It started the previous week at $1.64 trillion. It failed to surge or decline for the first three days of the session as it maintained around the mark. However, this changed on the fourth day as most cryptocurrencies had small hikes in prices.

Due to the small increases, the value of the sector under consideration rose to a high of $1.82 trillion. It is worth noting that this also sparked a turning point in market trajectory as it marked start of an uptrend that lasted till the end of the week.

Nonetheless, the closing price means the global cryptocurrency market gained almost 10%. Additionally, the uptrend is present this week as the sector attained a new high. It surged to $1.88 trillion, the highest in almost two years.

With the crypto market seeing a bullish trend, let’s see how some assets will perform over the next five days.

Top Three Cryptocurrencies to Watch

Bitcoin (BTC)

Against all predictions, Bitcoin had recorded one of its biggest surges. In the early hours of February 13, 2024, the surge came after the announcement of Microstrategy adding to its back of the precious cryptocurrency, and institutions frenziedly added it to their portfolios.

Subsequently, on Wednesday, the BTC/USD broke through the $44k resistance and rose higher closing the session at its peak which meant an almost 3% increase after over fourteen days.

The previous week was another bullish period for the apex coin. It closed the session with gains of almost 8% as it broke through several barriers. The asset continues to see more increases in buying volume as it continues to climb.

For the first time in over two years, bitcoin broke $52k. BTC started trading at $49,728 and gradually experienced a quick turn upward after flipping to $50k for the third time in three days. It soon tested $52,000 and peaked at $52,098, it ended with more than 4% after falling a bit downward.

Bitcoin, the largest cryptocurrency by market cap hit a new high, a few hours to the time of writing, it broke $53k. However, following the up flip, it had a small retracement that sent prices as low as $50,800.

Flipping $53,000 was an unexpected outcome to many before the significant downtrend. This happened shortly after the coin spent the last five days hovering around $52k with no notable breakout signals. As a result, the Moving Average Convergence Divergence may be printing a strong bearish signal.

Consequently, It’s been trending almost in parallel as opposed to the surging 26-day EMA. This is a sign of an impending bearish convergence. As with previous times, this could signal more downtrends for BTC.

Nonetheless, one of the key levels to watch this week is the $50,800 support. In the last six days, the apex coin tested this mark twice but failed to break through, however, If it breaks, the coin may drop as low as $48k.

Ethereum (ETH)

Stacks (STX)

Most cryptocurrencies failed to surge during the previous intraweek session. Most of them lacked volatility and did not see any notable changes in value during this period.

This had a huge impact on the global cryptocurrency market cap. A careful examination of the sector’s value reveals that it started the session at $1.62 trillion. As it progressed, it rose to a peak at $1.67 trillion as most major assets saw notable increases at the time. However, it dropped to $1.64 trillion as the period was coming to an end. This meant it failed to register any significant changes in worth over the last seven days.

This is almost the same trend playing out this week. Over the last 48 hours, there have been no changes to the crypto market’s total value. Furthering this assertion, a closer look at the charts depicts a straight line due to this trend.

Nonetheless, the previous intraweek session was not so bearish for some altcoins. One such is Flare. It enjoyed a massive increase in activity on its layer-1 network as the announcement of Google becoming one of its validators made waves. As a result, it gained more than 43%.

Will the same happen this week?

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

Bitcoin was mostly stable in price as it trended within a channel. This meant that it failed to break above the critical levels. The candle on the weekly chart better illustrates what took place. A clear small candle represented price actions which meant the apex coin failed to register any notable changes in value.

Nonetheless, the asset came close to breaking out of its trend. On Monday, it had its biggest increase of the session. It started the day at $42k but had a small price decline that dropped prices to a low of $41,800 before a rebound. Following the recovery, it climbed above $43k but failed to retest $44k as it faced strong rejections at $43,300.

Continuing the bullish trend, it peaked at $43,853 the next day but failed to register any significant changes in value. After these highlights, there are no significant moves during the rest of the intraweek session.

With a focus on the new week, BTC is yet to register any significant change in trends. It is seeing a continuation of the previous price pattern. A clear evidence of this is the candle representing price action during the previous intraday session. It had one of the smallest bodies with wicks sticking out both to the top and bottom.

The current session is not looking any different as the top coin has not made any significant moves. Nonetheless, indicators are pointing to the next price actions.

A closer look at the Moving Average Convergence Divergence reveals that if trading conditions remain constant, BTC may experience a bearish divergence. This is clearer as the 12-EMA is on a collision course with the 26-day EMA.

If this happens, this may spell more downtrends for the top coin. It might break the $42k support and possibly retest $40k.

2. Chainlink (LINK)

Chainlink had one of the best performances during the previous intraweek session. A look at the weekly candle points to the extent of the uptrend it had. It was the longest one in more than three months. This means that the altcoin broke through several resistances.

On the 1-day chart, it was mostly bullish with only two red candles. It also had a very good start to the period as it gained more than 3% on Monday. However, the main highlight of the session took place on Thursday. It started the day at $15.4 and surged after a brief price decline. It soon broke its fourteen-day high at $16.5.

It continued forward as it broke $17 and peaked at $17.3. Although it had a small decline in price afterward, it gained more than 11%.

With a focus on the new week, LINK may continue it uptrend. It started the previous intraday session at $18.1. However, it had as small retracement that saw it drop to a low of $17.7. It recovered and surged to its highest in almost a year. It broke through $19 and was heading for $20 before it halted its advances at $19.7.

Following the massive increases, indicators are still bullish and silent as to the next price action. Nonetheless, the most recent price decrease is an indication of some bearish actions. If it persists, chainlink could drop as low as $17.

3. Near Protocol (NEAR)

Near Protocol had notable losses during the previous intraweek session. A look at the weekly candle suggests that it halted its advances at a critical resistance due to strong rejections. Nonetheless, it lost more than 4% in the end.

With a focus on the new week, NEAR is yet to register any significant changes in value. The candles representing price action both yesterday and today are red dojis. However, the last seven-day period may shine a beacon of hope.

The candlestick pattern during the previous intraweek session was an inverted hammer. This sort of trend is an indication of the end of a bearish trend. If that plays out in the coming days, the altcoin may flip $3.

The crypto market had one of the best start to the year as it continued the surge from the previous month. As a result, many expected one of the best performances during the first month of the current year. However, the charts show that this never happened.

Crypto Market Closes the Same Way it Started

It showed that the global cryptocurrency market cap started at $1.66 trillion. As the sessions progressed, it rose to a high of $1.75 trillion during the first week. It retraced to its previous value but resumed its uptrend afterward. This time, it peaked at $1.77 trillion. During the second half of the month, trading conditions worsened and valuations sank to their lowest.

It dropped to a low of $1.51 trillion. Current prices suggest that the crypto market recovered as it is worth $1.66 trillion at the time of writing. This meant it failed to register any gains despite the hype it got during January.

One of the major market movers was the news that the approval of the Bitcoin ETF was imminent. In response, the crypto market had major surges. The main asset on the frontline, BTC, was not exempted from these hikes.

Bitcoin Reached its Highest in A Year

On the eighth day of the month, a notable event unfolded in the cryptocurrency market. Commencing at $43,936, the trading day witnessed a dip to a low of $43,213. Despite this initial setback, the cryptocurrency rallied to overcome the $46,000 resistance, achieving success in its endeavor. The upward trajectory persisted, reaching a peak at $47,281 before experiencing a decline to close at $46,995, marking a substantial gain of nearly 7%.

Following regulatory approval, the leading digital coin sustained its upward momentum. Consequently, it extended its bullish trend, surging to its highest point in nearly a year. On January 11, it commenced trading at $46,678, with a surge that captivated observers, heightening anticipation of a return to the $50,000 mark. The optimism gained traction as the cryptocurrency surpassed the $48,000 threshold. However, its ascent met a formidable obstacle at $49,000, encountering a robust rejection. Subsequently, it experienced a descent to a low of $45,600, concluding the day with no significant fluctuations in its valuation.

Aside from the development with the apex coin, several other events took place with some altcoin. One such is Helium. On January 24, it had one of its biggest surges. It opened trading at $5.97. It soon dropped to a low of $5.54 before rebounding. After finding support, it tested the $7 resistance and briefly broke as it peaked at $7.13. It ended the session with gains of more than 17%.

However, this failed to reflect on its monthly performance as it gained only 8%. The highlighted event happened during the asset’s recovery. It suffered a downtrend that saw it dropped from a high of $8.45 to a low of $5.54 in a few days. This explains the long wicks sticking out from the candle representing price actions.