Author: Gideon Geoffrey

During the previous week, most cryptocurrencies had one of the biggest losses. In what many refer to as a “bloodbath” these assets revisited levels they haven’t a while. They crushed several critical supports and are currently struggling to reclaim them.

These events also impacted the global cryptocurrency market cap. For example, the industry was valued at $1.17 trillion at the start of the previous week. However, a downtrend started in the late hours of Wednesday, which progressed to Thursday. At the peak of the bearish moment, the sector under consideration threatened to go below $1 trillion as it dropped to a low of $1.05 trillion.

At the end of the intraweek session, the sector closed with losses of more than 5% as it failed to recover. Nonetheless, many rejoice at the return of volatility to the market.

On the other hand, some assets closed the previous week with significant gains. One such is a fairly new coin named Akash Network. Over the last seven days, it climbed up the top 100s and is currently at 94. Additionally, it is up by more than 28%.

During the last two days of the previous intraweek session, the crypto market was mostly stagnant. However, the situation is gradually changing. Let’s see how some assets will perform

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

Over the last 7 days, bitcoin’s price performance has been so bearish. A closer look at the chart suggests that it registered significant decreases in the end. However, it is worth noting that there were a few bullish moments during this period.

It had a positive start to the session under consideration. Evidence of this happened on Monday when it started trading at 29280 but saw notable increases in selling volume that saw prices retest the $29k support. However, it held out against the attack and prices went as high as 29,400. Unfortunately, the asset closed with no significant increase in value.

On Wednesday, BTC retested the highlighted mark again. This time, it broke. As a result, it dropped to a low of 28693 and did not recover until the end of the session. It is also worth noting that the downtrend continued into the next 24-hour period.

Bitcoin had its biggest downtrend on Thursday. Immediately after it opened trading it experienced a sharp incline in selling pressure. As a result, it broke several barriers. One such 28k support. After flipping this level, it made an attempt at a 26k barrier but failed as it found support at 26226. Although it enjoyed a small recovery, it closed at 26642 with losses of more than 7%.

After this major highlight, the asset returned to its low-volatility status. This is also the situation at the time of writing. BTC is showing no yield signs of recovery. Nonetheless, one of the major levels to watch is the 25k support. This comes after it dipped to a low $25350 which may indicate a retest of this highlighted mark.

2. Ethereum (ETH)

Ethereum was not shielded from the bloodbath that raised the crypto market last week. It struggled to hold onto several supports. Nonetheless, on the weekly scale, it lost 8%. Let’s see what transpired on the daily scale.

Like most cryptocurrencies, the coin was fairly bullish on Monday. It opened trading at $1,839 but succumbed to bearish pressure and dropped to a low of $1,833. However, it rebounded and went as high as $1,854 but closed with no notable change in value.

The major highlight of the week happened on the fourth day. As with BTC, ETH started the day at $1,805 and experienced a significant increase in selling pressure. Due to this, it started a huge downtrend that saw it flip several supports. The first on the list is the $1,720 barrier. As a result of the intense pressure, prices went below it with relative ease.

The next major level it broke was the $1,600 support. Like the previous, the apex coin slid through it like a knife on butter. Afterward, it hit a low of $1,542 but rebounded and ended the day at $1,683. The close indicates that the asset lost almost 7% of its value at the time. Nonetheless, the last three days of the week were filled with very little volatility.

With a focus on the current week, Ether is showing no significant signs of recovery. Over the last 40 hours, it lost more than 3%. A few hours to the time of writing, it dropped to a low of $1,581 before recovering. This is an indication that ETH may flip the $1,600 barrier this week.

The previous week was one of the most profitable for most cryptocurrencies. During the first half of the session, they registered two notable increases in value. For example, Thorchain had its biggest moves over the last 7 days. As a result, it is up by more than 50%.

The second top gainer during the period under consideration. It kicked off trading at $1.20 but experience a significant increase in buying volume that shot prices to retest its 14-day high. As a result, it tried retesting $1.50 but experienced strong rejections at $1.45. Following the correction it closed at 1.40 which signified a more than 18% increase in value at the time.

These increases boldly reflect on the global cryptocurrency market cap. On Tuesday, the sector’s valuation reached a high of $1.18 trillion. This marked a more than 3% increase from its low on Monday of $1.14 trillion. After these notable changes, the crypto market was relatively dull as it was void of volatility.

With a focus on the new week, the sector under consideration is seeing more price movement. However, these moves are mostly bearish. As a result, the crypto industry values may return to last week’s low.

Nonetheless, several cryptocurrencies are showing huge potential at this time. Let’s see how some of these assets will perform over the next five days.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

Bitcoin’s performance during the last 7 days was short of huge volatility. Nonetheless, the Apex coin returned to its fourteen-day high. In the end, a green doji presented price actions over this period.

It kicked off trading at 29000 but broke the support and dropped to a low of 28671. Afterward, it rebounded but failed to register any significant increase throughout the day.

That changed on Tuesday as the asset under consideration had its biggest move of the week. It started trading at 29186 and made an attempt at 30k. It broke through the barrier and hit a high of 30210. However, it failed to gain stability above the mark as it we traced and closed at 29764. Additionally, it failed to record any significant increase in the end.

After this notable attempt at resistance, BTC saw very little volatility. Due to this, it maintained trading within a very small channel. I did not go below 29k and did not attempt 30K.

At the time of writing market conditions have not improved. The coin is still struggling with volatility and is seeing a very small amount. For example, since the week started BTC has not recorded any move worth 2%.

Nonetheless, indicators are offering insight into what may transpire over the next 5 days. The moving average convergence-divergence displayed a bearish divergence 2 days ago which may continue to play out throughout the week. This means that the assets may continue to see a gradual decrease in value.

As with previous times, one critical level to watch is the 29,000 support. Following MACD, BTC may drop as low as 28k if trading conditions remain the same.

2. Solana (SOL)

Solana’s performance during the previous week was filled with volatility as it tested critical support and resistance. In the end, it closed with losses of more than 4%.

One of the major highlights happened on Wednesday. The altcoin kicked off trading at $24 but saw a little increase in selling volume that saw prices retest a critical support. It attempted the $22 barrier or filters it rebounded at 22.8. However, it closed at $23 which signifies a more than 3% decrease in value at the time.

Following this major move, the asset was mostly dull, with no significant push at any resistance or support. However, it had its biggest positive price change on Sunday as it surged as high as 23.4 after it opened to trading at 22.6. It’s closed almost at its peak which indicates an almost 3% increase.

With a focus on the new week, solana may see more uptrends. Based on price patterns, the previous week’s price action created a falling wedge which indicates an impending uptrend.

3. Injective (INJ)

The past week was one of the most bearish for injective. In addition to seeing reduced volatility, it also registered significant decreases during this period. As a result, it lost the critical levels it held for more than 14 days. It is worth noting that it also had some positive moments.

One such moment happened on Tuesday when it kicked off trading at 7.90 and gained stability above $8. It attained a high of $8.22. However, it retraced and closed at 8.10 but registered an increase of almost 3% in the end.

The next day was the opposite of Tuesday’s actions. INJ broke $8 and dropped to a low of 7.80. Although it saw a small recovery, it closed with losses of almost 3%. The trend continued on Thursday as the altcoin made an attempt at the 7.50 support. The barrier held out against the trial and the assets rebounded and close at 7.68.

The last 3 days of the week were some of the dullest as the cryptocurrency failed to make any major moves. On the weekly scale, the asset lost a little above 2%.

With a focus on the current week, injective is saying more volatility. However, the asset is very bearish at this time. Since the start of the current intra-week session, it has lost more than 7%. As a result, indicators are displaying new readings.

For example, the relative strength index is currently at 31. This is owing to the sharp decline in buying volume. If this trend continues the assets may become oversold. This could play out in the favor of the bulls as it is a sign of an impending uptrend

Most cryptocurrencies are singing a huge increase in value at this time. The crypto market is close to a $1.20 trillion valuation due to these increases. It is hard to pinpoint the trigger for the most recent improvement in market condition, however, fundamentals played a huge role.

Nonetheless, this was not the case during the previous intra-week session. The crypto market kicked off at 1.18 last week Monday but surged to a high of $1.19 trillion on Wednesday. Following this peak, the sector under consideration dipped as low as $1.16 trillion and ended the seven-day period at this valuation.

After the huge volatility on the third day of the week the global cryptocurrency market cap was mostly flat throughout the rest of the session.

Some altcoins registered huge losses during this time. For example, COMP kicked off the previous week at $70. Nonetheless, during the first half of the session, it made an attempt at the $80 resistance but failed. As a result, it retraced from $79 and drop to a low of $54. It rebounded and closed at 56. This indicated a more than 19% increase in value.

With the most recent increase in the worth of crypto assets, the next five days promise a lot of action.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

As with the trend over the last two weeks, bitcoin ended the previous one with no significant increase. Although it’s made an attempt at 30K, 8 faced strong rejection at the mark and dropped to a close at 29,000. It is also worth noting that the apex coin lost the $29k support.

This happened on Tuesday when it began trading at 29221 but due to a low of 28574. Nonetheless is rebounded and tried to test $30,000. However, it failed in this bid as it faced strong rejection at $29,715. Additionally, it ended the day a little lower than its high and failed to register any significant gains.

During the next intraday session, BTC briefly broke 30K after a quick rebound at 28929. As with previous attempts, it retraced and close at 29164. The swath of the biggest moon during the previous 7-day session.

The cryptocurrency is showing huge potential at this time. A few minutes to the time of writing, it broke above $30,000 and surged to its fourteen-day high. It went as high as 30210 but is currently exchanging 29780.

The previous intraday session also hinted at more increases over the next 5 days. A closer look at the condo representing that’s trading period reveals a hammer. This candlestick pattern came after three days of consistent decreases. The pattern signals the end of a downtrend. If this holds true, BTC may gain more stability above 30K.

Indicators are also positive at this time. For example, the moving average convergence divergence is currently hinting at a bullish divergence. The Relative Strength Index is also at 54 which is the highest it attained since July 14. This is an indication of an increase in buying volume which may trigger more price improvement.

2. Hedera (HBAR)

Hedera had a very fruitful performance during the previous week. A look at the candle representing trading actions during this period depicts a long green one which signifies a notable positive change in value at the time.

However, breaking down the charts to the daily timeframes paints a rather different picture. During the first two days of the intraweek session, it failed to register any insignificant change in value. This changed on Thursday as the coin made an attempt at a critical resistance.

It kicked off trading at 0.052 and tried breaking the 0.055 barrier. The effort yielded very little result as it failed to crack it. This is a result of experiencing a rejection at 0.054. Afterward, it retraced to a close set to 0.053; failing to record any notable increases.

The biggest move of the week happened on Sunday. HBAR started trading at 0.052 and enjoyed a massive increase in buying volume that shot prices to its fourteen-day high. It breaks the previously highlighted barrier and sets sight on another. This time, it was the 0.060 resistance. However, it failed to gain stability above it as it retraced to a close at $0.0057; indicating an almost 10% increase.

With a focus on this week, the asset is continuing its uptrend after a short break on Monday. Following price action on Sunday, indicators like the Moving Average Convergence Divergence and the Relative Strength Index are showing signs of more price increases. For example, MACD is displaying a bullish divergence.

With this in mind, HBAR may attempt the $0.060 resistance again.

3. Optimism (OP)

Optimism I was also one of the few cryptocurrencies that had significant increases during the previous interweek session. On the weekly scale, it closed with gains of almost 5% after an intense fight struggle between the bulls and bears.

Breaking it down to the daily chart tells a different story of what transpired. Nonetheless, one of the major highlights of the week happened on Monday when the asset peaked at $1.80. It soon retraced to its opening price and failed to register any significant increase.

Another significant move happened 3 days later when it opened trading at $1.63 and enjoyed a notable hike in buying volume that shot prices to a retest of the $1.80 resistance. However, like the previous attempted field seeking stability above it, and retraced to a close at 1.71.

With the new week upon us, one of the most important levels to keep an eye on is the 1.60 support. This comes after another failed attempt at the 1.80 barrier on Monday. The current intraday session is also an indication of more price decreases ahead.

Most cryptocurrencies failed to register any significant increase during the previous seven days. Market sentiment during this period was one of the dullest. As a result, most assets did not experience any significant increases.

The cryptocurrency fear and greed index was mostly neutral. Nonetheless, at the start of the period under consideration, it is worth noting that the metric was bearish as most coins and tokens lost a considerable amount of their value. Due to this, the crypto market lost a considerable amount of its value at the time.

The global cryptocurrency market cap was at $1.20 trillion at the start of the week under consideration.  However, it dipped to a low of $1.16 trillion in the late hours of Monday but recovered as the day progressed. Additionally, it was unable to go higher than its open due to market conditions.

The sector under consideration closed the previous intraweek session with losses of almost 5%. A closer at the top 100 showed that most assets in the top 10 did not register any significant increase in the end. For example, Ethereum closed with losses of more than 3%.

It is also worth noting that over the last seven days, the sector under consideration did not see any huge fundamentals that could impact price. The same conditions apply to the new week as there are no announcements at this time. Nonetheless, let’s examine how some assets may perform over the next seven days.

Top Three Cryptocurrencies to Watch

1. Bitcoin

Two weeks ago the apex coin failed to register any significant increase at of the intraweek session. The trend continued into the last seven days and BTC lost almost 3%. A closer look at the daily charts suggests that the coin did not make significant attempts at critical resistance as it saw low volatility for the most part of the week.

It kicked of the period under consideration at $30,000 but experienced a sharp decline in buying volume. As a result, it dropped to a low of $28,842. This is the first time it is retracing to this level in more than a month. It also flipped a critical support in the process. However, it rebounded and reclaimed $29k before the end of the intraday session.

Monday ended with Bitcoin losing more than 3%. This also marked the last time it surged above $30k. Nonetheless, on Wednesday, it made an attempt at the resistance. It failed to reach the mark as the coin faced strong rejections at $29,600. Additionally, the asset under consideration held onto the $29k barrier for the rest of the week.

With the week in focus, it is worth noting that trading conditions have not improved. This means that the cryptocurrency under consideration is still experiencing low volatility. With this in mind, it is worth noting, if the trend continues, BTC may maintain the $29k support.

2. Maker (MKR)

On the weekly scale, Maker is closed the previous week as its most productive. It is worth noting that the coin went against the prevailing sentiment and saw massive volatility during this period. Additionally, it broke key levels over the last 7 days.

For example, on Monday at the conduit to a low of $1000. Afterward, it rebounded and surged closer to its opening price. This was the lowest asset went throughout the week. On Tuesday, the coin had one of its biggest hikes. It kicked off trading at $1,066 and surged to a high of $1,188 reclaiming $1,100. However, it’s experienced huge rejections that saw it drop to a close at $1,136 which indicates a more than 6% increase.

Another key highlight of the week was Saturday. The coin opened trading at $1179 and broke through the $1,200 support. As a result, it peaked at $1359. As with its previous attempts, it’s saw massive rejection and retraced to below 1,300. Nonetheless, they smacked another huge increase as it closed with gains of almost 9%.

With a focus on the new week, maker is struggling to hold on to its previous gains. A look at the current intraday session shows that the coin attempted flipping 1,300 but registered little to success. It retraced and is currently struggling at $1241.

Indicators are pointing to an impending downtrend. For example, the relative strength index is currently above 70. This means that the asset is currently overbought and due for correction. The moving average convergence-divergence is also showing signs of an impending bearish convergence.

With signs of an impending decrease in price, one of the key levels to watch is the 1,200 support. If it fails MKR can go as low as 1100.

3. XDC Network

Like some of the cryptocurrencies to watch this week, XDC network registered notable increases during the previous intra-week session. As per sources, the token enjoyed a more than 300% increase in Trading volume. As a result, it hit levels it had not attained since June 2022.

The main highlight of the week happened on Wednesday. The cryptocurrency opened to trading at $0.053 and saw a sharp increase in buying volume. Due to this, it made an attempt at $0.070 with little success. After flipping the mark, it retraced to a close of $0.059. Although it lost more than half of the value it gained, it ended the day with gains of more than 10%.

Following this massive move, the coin struggled for the rest of the week. Nonetheless, it is seeing an increase in price at the time of writing. It kicked off the current intraday session at $0.057 and is currently trading at $0.061. This indicates that it is currently up by more than 7%.

However, the relative strength index is blaring warnings. Due to the most recent move, it is at 69. If the increase continues, it may break above its bounds.

Bitcoin and most cryptocurrencies are seeing a gradual decline in value. For example, the apex coin slipped below $30k during the previous week and failed to recover.

This trend also permeates the entire market as the global cryptocurrency market. The global cryptocurrency market cap was at $1.20 trillion at the start of the previous intraweek session.

However, it experienced a lot of volatility that saw it enjoy relative stability above $1.2o trillion. As the week came to an end, the value of the industry went as low as $1.18T. It closed a little lower but did not register any significant change in value.

The crypto market was a bit quiet as there was no huge fundamentals that could cause a notable change in the price of some assets.

This week, the value of major crypto assets is down by a few percent. It is hard to predict how they may perform over the next five days as the sector under consideration is still quiet with no huge announcements.

However, cryptocurrencies like DOGE and XDC are seeing significant improvements in price. Let’s see how some other assets trade

Top Three Cryptocurrencies to Watch

1. Bitcoin

Last week, bitcoin failed to register any significant increase. A closer look at the charts shows a candle with a small body and long wicks extending downwards. This suggests that the coin retraced to a critical support but rebounded before the session ended.

The coin opened the period under consideration at $30,247 and held this mark for a very short time as it slipped below 30k on Monday. Although it recovered, it failed to gain stability above the said mark. This was also the trend throughout the seven-day period.

However, there were periods the coin made significant attempts at an uptrend. One such was on Thursday when it opened at $29,900 and tried retesting $30,500. It failed in its bid as it faced strong rejections at $30,414. It retraced as a result and dropped to its opening price. This was also the highest the coin it went during the period under consideration. Following this leap, the cryptocurrency did not see any significant push or downtrend.

With a focus on the week, BTC is exhibiting notable volatility. For example, it kicked off Monday at $30k. As the day progressed, the asset experienced a massive decline in buying volume. As a result, it dipped below $29k for the first time in more than fourteen days. It hit a low of $28,842 before rebounding. However, it closed trading at $29,177 which indicates a more than 3% decrease in value.

Bitcoin is not showing any huge signs at the time of writing. The candle representing the current intraday session is a very small doji that depicts low volatility. Nonetheless, it is green which is a relief from the previous day’s losses.

Indicators are silent as to how BTC may perform in the coming days. However, based on previous price movements, the apex coin may experience small increases over the next five days.

2.Dogecoin

Dogecoin did register massive gains during the previous intraweek session. Nonetheless, the coin saw a lot of volatility during this period. However, like most cryptocurrencies, it had an even start to the session.

Last Monday, it opened trading at $0.069. It saw a massive increase in buying volume that shot it as high as $0.073. Afterward, it retraced to a low of $0.067 before rebounding. All the moves failed to reflect on the daily scale as DOGE returned to its opening price and ended the day with no significant change in value.

Following a small decrease the next day, the altcoin climbed over the next three days. One of the highlights was on Friday when it recorded it biggest gain of the week. It started trading at $0.070 and surged to a high of $0.076. It retraced as it experienced strong rejection and closed at $0.073. This was the high for the week and the asset gained almost 4%.

Dogecoin is still experiencing high volatility at this time. It kicked off the current intraday session at $0.074 and shot to a high of $0.083. This marked the first time in more than a month the coin is crossing $0.080. Nonetheless, it closed at $0.081 which indicates a more than 10% gain.

This increase is raising concerns as the Relative Strength Index is at 72; DOGE is overbought. In the coming days, traders may brace for corrections.

3. Stellar Lumen

Stellar Lumen saw massive increases during the previous week. On the weekly scale, the coin gained almost 18%.

One of the biggest moments during this period was on Wednesday. It kicked off trading at $0.13. However, as the day progressed, it made attempts at key levels. One such is the $0.16 resistance that broke due to a massive demand concentration at the mark. It went further but halted at $0.167. It dropped to a close at $0.15 which indicates a more than 18% positive change in value.

Following that surge, RSI was at 71; the asset was overbought. This also spelled an impending downtrend. The decreases took place over the last three days of the week.

However, XLM is yet to recover from its downtrend. During the previous intraday session, it lost more than 6%. The candle representing the current intraday session is a red doji which signifies that the asset is still losing a fraction of it worth.

Stellar Lumen may recover as RSI is back below 70. One key support watch over the next five days is the $0.14. If this barrier fails, the altcoin may go as low as $0.13.

The cryptocurrencies to watch this week showed huge potential during the previous intraweek session. They also recorded notable changes in value that may continue over the next five days. Before delving into these assets, let’s go over key events that took place during the previous seven-day period.

The crypto market started trading with its total value at $1.05 trillion. However, as trading conditions improved, it peaked at $1.07. While many argued that this was insignificant, the sector had a sharp decline a few days later.

It dropped to a low of $1.01 trillion and threatened to go lower. It recovered and closed the period under consideration at $1.06 trillion. Judging by the global cryptocurrency market cap, not much happened over the last seven days. However, this is false.

During this period, one of the top gainers was TWT. lIt surged by more than 22% and erased all of its previous losses. KCS also took the same path but failed to fully erase its losses as it gained 18% as opposed to the 19% drop it suffered.

On the other hand, assets like BTT are still grappling with the effects of an 11% drop in value during the previous intraweek session. It has not recovered from the bearish dominance that took over on Wednesday. This was due to a negative CPI release.

WIth a brief overview of what transpired during the previous seven-day period, let’s see what lies ahead for he next five days.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

2. Solana (SOL)

3. OKB (OKB)

 

Most cryptocurrencies had one of their worst performances in previous weeks. Most of these assets lost a huge chunk of their value at the time. This fall had a substantial effect on the value of the entire crypto market.

During the abrupt decline in value, the industry lost more than 5% of its value. At $1.04 trillion, it was at its lowest during the seven-day session. This bearish action took place over the weekend and in less than 4 hours. It opened Saturday at $1.1 trillion on that day but fell to the bottom, marking a more than 5% decrease.

Despite a small recovery, the decrease in the value of major assets affected the market’s weekly outlook as it finished Sunday at $1.06 trillion. This indicates that it lost more than 6% from its $1.15 trillion opening price.

A significant selloff from a whale is the obvious perpetrator, notwithstanding the claims of many people who say they do not understand what prompted the dramatic change in sentiment and trajectory. This happened as a result of a well-known whalewatch’s report a few days earlier that Robinhood intended to sell bitcoin worth more than $1 billion. The result was a reverberating event.

The majority of the assets are still in danger, according to a thorough analysis of trade activity at the time of writing. By creating new support systems or maintaining an old one for the long term, some people are exhibiting immense potential, though. Consider how these currencies might perform this week.

Top Three Cryptocurrencies to Watch

1. Bitcoin (BTC)

During the previous week, Bitcoin lost more than 4%. This marks the second week of consecutive losses for the asset after losing more than 3% the session before. However, the weekly scale does not fully cover key events that took place. Let’s see them.

The apex coin went started the previous week at $27,114. Following that, it saw a dramatic decline in price and lost numerous levels. As a result, it hit a  low of $25,389. Nonetheless, it rebounded and gradually edged to $26k but was unsuccessful and closed at $25,739. The closing price implies that the cryptocurrency had a decline of more than 5%.

On Tuesday, BTC surged past all of the levels it lost the previous day and peaked at $27,236. In the end, the asset climbed by more than 6%.

Following this hike in price, many expected more increases. However, this never happened as Wednesday was another bearish period for the asset. The apex coin lost more than 3% and dropped to a low of $26,140.

A look at the daily chart points to the fact that bitcoin was relatively stable until Saturday. This massive change affected most cryptocurrencies which suggest that the crypto market was largely bearish. As a result, BTC broke the $25k support and dropped to a low of $25,420. Although it recovered, it closed with losses of more than 3%.

With a focus on the new week, the apex coin is gearing up for another massive move. A clear indication of this is the Relative Strength index. It is currently stable above 40 and held this position for more than 48 hours.

The direction of the move is also unclear as indicators like MACD are silent. However, based on the previous week’s performance, BTC is gaining a lot of demand concentration at $25,400. This is an indication of a developing support. As such, the top cryptocurrency may not drop below this mark within the next five days.

The $27k resistance is one of the crucial levels to keep an eye on near the top. This week, BTC might take it back.

2. Ethereum (ETH)

Like most cryptocurrencies, ETH is also grappling with the effects of previous losses. During this period, it registered its biggest loss since April. It lost more than 7% during the previous intraweek session.

Like most cryptocurrencies, ETH had a bad start to the session under consideration. Monday kicked off with prices at $1,891. However, it saw an increase in selling pressure that saw it dip to a low of $1,775. Although it recovered, it closed at $1,752 which signified losses of more than 4%.

Another major drop happened on Saturday. it kicked trading at $1,739 but retraced and retested a key support. It attempted the $1,600 barrier but failed as buying volume increased. Due to this, it closed at $1,651. This was also its biggest loss of the week as it lost more than 5%.

With a focus on the next five days, ETH is gearing up for a major push. It’s hard to determine the direction of this push as indicators are silent. However, due to price action over the last 40 hours, RSI decline is gradually coming to an end. It is currently close to 40 which may point to an impending price increase.

On the other hand, price performance over the highlighted period is worrisome. Ethereum failed to record any massive or notable change in value. This may also be an indication of more downtrends ahead. If this happens, the apex altcoin may drop to levels it hasn’t over the last three months.

3. Solana (SOL)

Solana also suffered big losses the previous week. It decreased by more than 28% when it reached the levels it left in January.

SOL’s price decreased to $13. The session started at roughly $21, but due to the intense selling, it dropped to the low. Nevertheless, it recovered and ended the day at $15, with the trend of several indicators altering a few times. They include MACD. There is currently a bearish divergence, which could signal future price declines.

The market is still on a decline. A strong proof of this is provided by price fluctuation over the prior 40 hours. Solana didn’t record any major gains during this period. The Relative Strength Index offers some positive news.

SOL is currently oversold which may indicate an impending reversal in market trends. If this happens, the altcoin may reclaim lost levels.