Category: Analysis

ETH has been the center of attention in the last seven days. Following several months of uncertainty, the US Security and Exchange Commission finally approved a spot ETF.

In the days leading up to the approval, the regulators quelled the uncertainties by contacting filers to update their request, increasing odds from 25% to 75%. The market responded with massive surges as several assets reclaimed their 2024 highs. It also gained almost 5% in 24 hours.

Ethereum products like PEPE and FLOKI  surged to their peak as the first registered a new all-time high. Aside from these ETH products, BONK gained a whopping 20% as it surged past its two-month high.

The past seven days were some of the most profitable for the crypto market. Let’s see how the top 10s performed

BTC/USD

Bitcoin is up by over 2% in the last seven days. The apex coin is experiencing significant downtrends the massive surge it had on May 20. It peaked at $71,500 after starting the day at $66,255. It also ended the session with gains exceeding 7%.

Currently printing green candle, this is the first such cand as it registered significant declines over the last three days. During this period, the coin lost almost 5% as it gradually lost levels it attained during the previous hike. It dropped to the lowest mark on May 23 as it rebounded at $66,600.

A few hours ago, the asset dropped to this level again. Nonetheless, as with the previous day, it rebounded and is edging towards $69k.

The $67k mark is losing its value as many analysts previously predicted that it was critical for an attempt at $70k. However, the $66k support has remained instrumental in maintaining the momentum to retest the highlighted resistance.

The Fibonacci retracement points to the continuation of the two-day trend as the highlighted support is close to the 78% Fib level. This means there is notable demand concentration there.

Nonetheless, BTC is trading at $68,921, which shows it is edging towards its first pivot resistance at $69,200. A decisive flip will see the cryptocurrency surge above $70k before the week ends.

ETH/USD

May 20 saw Ethereum attempt its 2024 high. In a massive surge, it gained a whopping 19% as it climbed from $3,070 to a high of $3,695. During the rally, it climbed above several pivot levels. One such is the pivot point, which served as resistance for over fourteen days before the hike. The first pivot resistance is another critical level that broke.

Since climbing above these levels, the coin has maintained trading above them. Nonetheless, during the previous intraday session, it slipped below them. Following its failed attempt at $k, it dropped to $3,521 and peaked at $3,947.

Currently printing a red candle, the asset is recovering from a drop to $3,700 and is yet to fully achieve this bid. However, the most recent trend is the opposite of what many expected, as the ETH ETF got its approval during the previous intraday session. The surges they anticipated never came as the altcoin is struggling to gain stability above $3,800.

Nonetheless, the relative strength index suggests further price declines. At 68, it is falling below 70 for the first time in almost four days. This will mean a drop below $3,500 may take place in the coming days.

BNB/USD

Binance coin is on the downtrend and has yet to recover. Nonetheless, May 20 and 21 were some of the most bullish periods of the last seven days. It gained over 7% as it peaked at $631 after bouncing off its pivot point at $574.

It edged close to retesting this level during the previous intraday session. It dropped to a low of $580 but recovered and closed at $599, recording losses of over 2%. It is currently printing a doji as the bulls attempt to halt the downtrend it experienced during the last two days.

Nonetheless, price movements suggest a retest of the pivot point in the coming days. This comes as price movements remain flat in the past 24 hours. Additionally, the relative strength index halted its descent and is currently trending in an almost straight line. This illustrated an equal pressure between the buying and selling pressure.

The 12-day EMA is also moving in the same pattern as RSI. Additionally, the 26-day EMA is on an uptrend which suggests an impending bearish convergence if the trend continues. This may lead to BNB retesting its 50-day exponential moving average.

SOL/USD

The current candle shows that Solana bulls are staging a buyback. However, it appears unsuccessful as it has yet to register any significant price improvement. As a result, it is printing a doji. Additionally, RSI halted its decline in response to the latest attempt.

The most recent price movement is an improvement from the last four days as the asset will likely register its first green. The previous intraday session was the worst of the period as it registered one of its biggest dips. It lost almost 5% as it retraced to a low of $162.

The move brought it close to breaking the $160 support and testing the 50-day EMA at $157. Nonetheless, RSI points to the possible reasons for the latest decline. A few days ago, the metric surged to 70 which meant it was seeing maximum buying pressure. Further uptrends would make the asset overbought. It also meant that the asset was due for corrections.

The moving average convergence divergence indicates further downtrends. The 12-day EMA is on the decline and will intercept the 26-day EMA in bearish convergence. This will mean a drop below the 50-day  EMA is almost inevitable.

Currently trading close to the 23% Fib level, it will lose the mark. The next critical level to watch is the 38% Fib mark at $140.

XRP/USD

XRP is looking to continue its growing uptrend.  A green close on May 25 will mark the third consecutive day with minute price improvement. Currently displaying one of the tiniest candles on the chart, the asset is holding on to $0.53.

Nonetheless, since May 2, it has struggled to keep prices above $0.52. It enjoyed surges that saw it close with gains of more than 5%. It is worth noting that two days ago, the coin retraced to retest the $0.50 support but rebounded.

The current price trajectory suggests that the asset will test $0.55 if the uptrend continues. It will continue to hold on to the pivot point at $0.52.

The relative strength index is at 55 which places the bulls at an advantage. Additionally, it is on an uptrend which indicates growing buying pressure. Nonetheless, the accumulation and distribution chart suggests a gradual drop in trading volume.

Additionally, the moving average convergence divergence is silent following the bullish divergence a week ago. Both the 12-day and 26-day EMA are on the uptrend which tells that XRP is maintaining its bullish posture.

DOGE/USD

Dogecoin is seeing significant price changes at the time of writing. It is up by almost 4% as it edged closer to testing its seven-day high.

The most recent hike is a continuation of the previous day’s surge. It peaked at $0.173 and retraced to a low of $0.155. Nonetheless, it closed with gains of almost 3%. The current day’s increase confirms the coin’s U-turn from its downtrend.

RSI resumed its uptrend following the increase in buying volume. The change comes amidst the massive decline in trading volume. The volume dropped by 53% in the last 24 hours. Currently at 58, the bulls are at an advantage.

Nonetheless, MACD is also on the uptrend. It continues its buy signals as the 12-day and the 26-day EMA are still on the uptrend. The gap between the two metrics grew wider in response to the previous 48-hour trend.

Currently trading above the 38% Fibonacci retracement level at $0.166, the bulls will look to defend the mark and continue the uptrend. The mark is close to the pivot point. However, a change in market trajectory could send the token as low as low as the 50% Fib level at $0.15

ADA was gaining a lot of attention at the start of the week. This stems from several fundamentals relating to its ecosystem. One such was Charles Hoskinson’s proposal to partner with Bitcoin Cash. He conducted a poll on X, asking users to vote on the collaboration. The poll garnered over 14,000 votes, with over 68% in favor.

Nonetheless, the Cardano co-founder hinted that the bitcoin fork would have to be bridged or cross-chained for compatibility with his project. However, neither project has yet to agree on the technical aspect of such collaboration.

However, traders gradually moved past the fundamentals, and the asset is trading at a loss. This is the same trend with the global cryptocurrency market cap. It is down by over 5% as it is worth $2.26 trillion from $2.36 trillion.

The current crypto market valuation points to the decline in the price of other assets. Let’s examine how they performed.

1. Bitcoin (BTC)

Bitcoin is down by over 4% on the weekly scale. This comes after it retraced to a low of $60k and failed to surge above $65k. After hitting a brick wall at $65,500, it started a decline that it’s struggling to recover from.

In response, the bulls are trying to stage a buyback at $60k. This move produced minimal results as the coin is exchanging at $61k. However, no sign of a massive pump will erase the coin’s accumulated losses.

The moving average convergence divergence is seeing less volatility. This is the same trend with BTC. In the last 48 hours, it barely moved by 2%. In response, MACD has yet to show its bearish divergence. The space between the 12-day EMA and the 26-day EMA remains closed. Nonetheless, the current trend indicates an impending breakout.

The exponential moving averages hint at prices going downhill. On more than three occasions, bitcoin failed to break the 50-day EMA decisively. Following its inability to flip it, the asset retested the 100-day EMA and bounced off it twice.

If the apex coin flips the metric, it will retest the 61% Fibonacci retracement level at $60,200. Breaking this level will result in the coin edging close to the 200-day EMA at $53k. Nonetheless, before this critical level, the bulls will attempt a buyback at the 50% Fib level.

2. Ethereum (ETH)

Ethereum bulls are attempting a recovery as it appears the downtrend is coming to a grinding halt. During the previous intraday session, the doji saw the asset return to its weekly low. Nonetheless, the current candle possesses a more pronounced body.

The most recent price trend shows the bull’s failed attempt to halt the ETH correction as it nears the second consecutive week of losses. It is down by over 6% on the weekly scale, extending the losses in the last fourteen days to almost 10%.

A closer look at the chart shows the coin edging close to the first pivot support at $2,664. MACD is hinting at the chances that this will happen, as it displayed a bearish divergence a few days ago. Amidst small attempts at recovery in the last 48 hours, the 12-day EMA continues its descent. As a result, the space between both MACD’s EMA is growing.

Having lost the 61% Fib retracement level, the bulls will look for buyback opportunities at the 78% Fib. This illustrates notable demand concentration at $2,700. Nonetheless, ether is edging to retest its 200-day EMA at $2,800 after losing the 100-day EMA a few days ago.

3. Binance Coin (BNB)

Binance coin has yet to register any significant gains since the week started. It’s printing a doji on the weekly scale as it dropped to a low of $575 after facing strong rejections at $5607. The most recent valuation comes after it retraced to a low of $538 some weeks ago.

Nonetheless, BNB has remained range-bound over the last seven days. Three days ago, it moved its lowest point to $583, which suggests a possible attempt at a further uptrend. The most recent price trend resulted from the asset’s massive decline last week. The decline was in response to the bear flag it printed due to an eight-day surge.

The 12-day EMA is on the uptrend, responding to the minor price improvements in the last 48 hours. MACD is currently displaying buy signals, and both the 12-day EMA and 26-day EMA are in contact.

It is also noted that the coin held on to the 50% Fibonacci retracement level at $580. This will be the launch pad for the subsequent attempts at resistance. They will look to reclaim the 26% Fib level at $615. This will mean the asset must flip the $600 resistance decisively in the coming days. The EMA also points at the bullish reading as BNB trades above the 50-day EMA.

4. Solana (SOL)

Solana is printing a red doji on a weekly scale. The latest price movement comes after the coin retraced below $120 last week. A closer look at the current doji suggests a massive improvement from the previous week’s low.

The 72 hours have been some of the most bearish for the altcoin since the week started. It lost over 5% during this period. Nonetheless, the coin is seeing a gradual stop to the downtrend. As a result, it failed to register any notable changes in price over the last 48 hours.

Currently trading at $144, the asset is below its 50-day EMA and approaching the 100-day EMA. A retest of the 100-day EMA could see the asset drop as low as $140. Previous price movements suggest that there is significant demand concentration at the mark, as SOL bounced off it twice this week.

The bulls will also defend the mark as it is close to the 38% Fib level. As seen last week, if the altcoin breaks the highlighted mark, it will retrace as low as the 50% Fib level at $116. Backing up the claim is MACD’s 12-day EMA. It halted its ascent in response to the most recent market trajectory.

5. Xrp (XRP)

As many await the court’s final verdict on the case of Ripple vs. SEC, a glance at prices suggests a different story. Nonetheless, XRP had a good start to the week as it surged to a high of $0.57 after it started the day at $0.52. It failed to end the day with any notable price change as it retraced to its opening price.

A bearish close to the current seven-day period will mark the continuation of the altcoin trend of remaining range-bound between $0.46 and $0.57 on the weekly scale. Additionally, it is currently down by over 5%.

As a result, several indicators flipped bearish and are displaying sell signals. One such is the 50-day EMA. It is below the 100-day and 200-day EMA in response to the most recent price trend. XRP is also trading all three exponential moving averages.

The sell signal continues with MACD’s 12-day EMA intercepting the 26-day EMA. With an impending bearish divergence, the altcoin will see more decline. Nonetheless, it is holding on to the $0.50 support. Closing the week below will guarantee a drop to a low of $0.46. The bulls will also try to defend prices at $0.48.

6. Dogecoin (DOGE)

Dogecoin lost a critical support it held throughout the week. Although the flip is not decisive, it registered a new low for the intraweek session. A close at this value will signify an over 12% loss as the coin faced massive rejection at $0.17 and has yet to recover from the decline.

In addition to losing the critical mark, DOGE flipped its 50-day EMA a few days ago. It is trading below its 100-day EMA after going below it a few hours ago. The most recent reading puts the bears at an advantage as they anticipate further price declines.

Adding to the impending downtrend is the moving average convergence divergence. The indicator is displaying bearish convergence. With an impending divergence, dogecoin will continue downhill. This could mean a retest of the 200-day EMA.

The bulls will look forward to a rebound at the 38% fib level at $0.135. If it breaks it, DOGE will retest the 50% Fib at $0.12 (guaranteeing a retest of the 200-day EMA).

Conversely, if market conditions improve, the asset will seek to regain stability above the 100-day EMA.

7. Cardano (ADA)

Following Hoskinson’s announcement, ADA retested its fourteen-day high at $0.47. Nonetheless, it experienced notable corrections after peaking. This will mark an over 4% weekly price decline as the asset heads for its third consecutive week of losses.

Amidst the price decline, the Cardano is holding on to $0.43. Having set a new low for the week, it will look to rebound at $0.42. However, the 50-day EMA points at such a situation as bleak. It is about to intercept the 200-day EMA.

The same sell signal is going off on MACD. The 12-day EMA has halted its uptrend and started a bearish convergence in reaction to the most recent three-day price decline. A completion of this phenomenon will trigger a drop below $0.40.

Most cryptocurrencies are currently seeing a significant decrease in value. The crypto market fell victim to another wave of bearish fundamentals.

One such is the ongoing hunt by the United States Security and Exchange Commission. The regulator sent wells notice to Robinhood’s trading platform, spreading panic among its users and other crypto assets. A few hours ago, the SEC chairman made an appearance on CNBC. He stated that most tokens are securities under the law of the land.

The statement by the SEC chairperson forbodes other attempts by the regulators to go after other cryptocurrencies.

Nonetheless, the crypto market saw a lot of volatility during the previous week. Over the last seven days, its worth increased by over 4%. However, it is on the decline at this time. Will it improve?

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

Bitcoin is struggling at $63k following the statement by the SEC chairman. Nonetheless, the trend started during the previous intraday. The apex coin surged to a high of $65,500. In response, speculation of an attempt at $70k gradually gained more attention.

However, the asset closed with losses of almost 2%. Still bearish, BTC has yet to register any significant changes in value. Nonetheless, it has crossed several metrics that point to further price declines, including the 50-day EMA. The current day marks the second consecutive day of the asset’s failure to close above it.

This consistently places the bears at an advantage. Coupled with the growing selling pressure on the $63k support, the relative strength index has started its descent in response to the slight increase in selling volume.

If the current level buckles under pressure, the apex coin will retest the next critical mark at $62k. If the bulls fail to defend the $62k support, BTC will retrace as low as $60k.

On the other hand, it is worth noting that the 12-day EMA is still on an uptrend, which may mean the bulls’ impending attempt at a buyback. If this plays out, Bitcoin may reclaim $65k.

2. Render (RNDR)

Amidst the growing concern in the market, AI token Render is on an uptrend. Over the last week, it surged from a low of $6.88 and retested $10. Although it failed to close above it, it registered gains of over 23%.

The token continued the uptrend and has gained stability above $10. A few hours ago, it retested $11 but fell short at $10.5 as it lost momentum. Nonetheless, the accumulation/distribution asserts that the uptrend is buoyed by pure demand as the metric rises in response to the current price movement.

Additionally, the moving average convergence divergence maintains its positive posture. The metric displayed a bullish divergence a few days ago and shows no signs of halting. The bulls will continue the surge.

Based on previous price movements, the bears will attempt a sell-off at $11. Nonetheless, the mark is not challenging. As a result, RNDR will look to climb as high as $12 within the next five days. However, it may fail to flip decisively.

On the other hand, a change in price trajectory will result in the asset retracing. Previous price movements suggest a notable demand concentration at $9.

3. Ethena (ENA)

Ethena is seeing considerable increases at the time of this writing. However, the candle it’s printing hints at an impending change in price trajectory. It started trading at the current intraday session at $0.89 and surged to a high of $1.03.

Currently trading at $0.92, the asset lost over half its previous gains. Nonetheless, it is up by over 3%. The most recent surge continues the previous day’s trend, which saw the coin gain over 9%.

The current price suggests that the uptrend is coming to a halt. This comes after many traders took profit at the peak. With little buyback, it is unable to return to this mark.

In response, the accumulation/distribution is heading downhill. According to the rules governing this metric, traders should expect a price decline when it’s down, and prices are not. If this plays out, the asset may experience corrections.

However, price movements suggest that the retracement will not be severe. This is due to the significant demand concentration at $0.80. Nonetheless, if it slips, it will rebound $0.70.

The chart also points to another attempt at $1. If this plays out, the asset will look to retest $1.10 before the week runs out.

4. Neo (NEO)

Since the new week started, NEO has yet to register any positive change in price. It is down by over 5% as the price struggle continues. Most of the losses this week occurred during the previous intraday session when the asset started trading at $16.7 and surged to a high of $17.2.

After attaining the high, it experienced massive corrections. Due to this, it retested the $16 support but failed to flip it. As the charts suggest, it is trading below the critical mark and is edging for more downtrends.

In response to the growing selling pressure on the asset, the relative strength index is also on the decline. Currently, at 42, it places the bears at an advantage and hints at further downward price movement. Additionally, MACD is silent and has printed no other signals since the bearish divergence.

If the downtrend continues, the asset will slip below its current price. The bulls must defend $15, as failure to do so will result in NEO dropping as low as $14. Nonetheless, significant demand concentration at this mark may mean a possible rebound.

On the other hand, the red candle the asset is printing indicates an impending buyback. If that happens, it gains stability above $17.

5. Helium (HNT)

HNT has been down by over 10% since the start of the week. It lost 3% during the previous intraday session and continued the decline with an over 8% decline during the current session.

In response to this consistent decline, RSI is below 50, placing the bears at an advantage. Additionally, the moving average convergence divergence is also printing sell signals. This comes as the 12-day EMA is heading downhill and will intercept the 26-day EMA.

With the bearish readings, the asset may retrace as low as $3.80. Nonetheless, there is a small demand concentration at $4.80. On the other hand, the coin may see small attempt above $5.

XRP parent firm Ripple continues it legal battle against the SEC. The regulators introduced fresh evidences to the case that caught the firm unaware. As a result, the defendant is pushing to oust this new proof.

Nonetheless, the asset traded sideways during the previous intraday session as the court processions continued. Nonetheless, other events took place in the market over the last seven days. One such is Hong Kong’s launch of both Bitcoin and Ethereum ETFs.

However, approval barely had any impact on the prices of the associated assets. Ether had small price declines, while BTC had no notable change in price. The situation is worse at the time of writing, as the crypto market is bleeding.

Over the last seven days, the global cryptocurrency market cap lost over 10%. It dipped by almost 5% in the last 24 hours. Let’s examine how some assets in the top 10 performed.

1. Bitcoin (BTC)

Bitcoin had its biggest loss of the previous week on Wednesday. It lost over 3% as it failed in its bid to gain stability above $67k. after facing massive rejections at $67,000, the coin retraced to a close at $63,554.

It attempted recovery during the previous intraday session, rebounding at $61,700 and closing at $63,800. A few hours ago, the bulls tried to continue the bullish trend but failed, as the coin retraced following massive rejections at $64,700. As a result of the most recent price decline, the apex coin returned to its two-month low.

It dropped to a low of $59k before rebounding and is currently trading at $60,700 as the bulls attempt to soak up the supply.

Amidst the massive price decline, the apex coin had a whopping 40% increase in trading volume over the last 24 hours. However, the relative strength index suggests the bulk of the increases were from bearish traders as the metric is very close to the lowest level this year.

Nonetheless, the current low places the bulls at an advantage as it is within a level of strong demand concentration. Additionally, BTC is trading close to its first pivot support and will attempt to reclaim it.

ETH/USD

During the previous intraweek session, Ether’s performance created a buzz about a potential return to $3,500.

However, it failed to reach that level and instead peaked at $3,355. After hitting this high point, it retraced and closed at $3,263, representing an increase of more than 3%.

Recent trading activity over the last 48 hours confirms that the uptrend has ended. The altcoin lost nearly 2% during the previous intraday session and is still declining. A few hours ago, it broke the $3k support and is now trading at $2,984.

On-chain data indicates that the asset had a 10% increase in trading volume over the last 24 hours. However, the current price performance suggests that most of the volume came from the bears.

As a result, the Relative Strength Index (RSI) is heading towards its three-month low at 38 as it continues its downtrend.

A closer examination of the metric reveals that ETH always experiences buyback when it gets to 36. This trend has occurred more than three times in the last three months. If it happens again this week, this will imply a further decline before a recovery.

The altcoin may continue to decline until it sees buyback at $2,800 (78% Fibonacci retracement level), having lost the 61% Fibonacci retracement level.

Nonetheless, the current candle shows an extended wick, indicating that the bulls are gradually absorbing the excess supply. If this trend continues, the coin will likely reclaim its first pivot support at $3,100.

BNB/USD

Over the past two weeks, the native token of the exchange has been experiencing a continuous uptrend.

However, due to the formation of a bear flag, its upward momentum was temporarily halted during the last two days of the previous week. Despite this, it managed to close with gains exceeding 3%.

The coin is still feeling the effects of this trend, as evident from the trading actions over the last 48 hours.

Unfortunately, BNB was unable to resist the market sentiment, resulting in one of the largest declines it has experienced this month. After reaching its peak at $605, it has retraced to $555.

Currently, the moving average convergence divergence (MACD) is displaying bearish signals as the 12-day EMA has crossed below the 26-day EMA.

This bearish convergence indicates further declines for the altcoin. If the current price decline continues, the RSI may drop from its current level of 45 to as low as 40.

Despite these indicators, BNB is trading at $567 and has reclaimed its 61% Fibonacci level. The bulls are expected to push the price further and attempt to reclaim the 50% Fib at $579.

DOGE/USD

On the other hand, Dogecoin reached a high of $0.16 last week before retracing to $0.14. It ended the week with a loss of over 7%.

Unfortunately, the downward trend has continued over the last 48 hours, with the asset down by over 9%. Currently trading at $0.13, the relative strength index (RSI) is displaying bearish signals with a metric reading of 34. If the market sentiment continues, the RSI will drop below 30, indicating an oversold condition for DOGE.

The Fibonacci retracement highlights critical levels to watch, with the first pivot support at $0.14 already lost. The Pivot Point Standard points to $0.076 as the next stop.

However, DOGE is expected to end the week above the 50% Fib at $0.12. If it fails, it may retest the 61% Fib at $0.11. Furthermore, DOGE will try to reclaim its S1 at $0.14 before the weekends.

With the halving over, the cryptocurrency market is picking up momentum. As a result, several cryptocurrencies are on the uptrend as they return to their fourteen-day high. One such is HBAR . The asset gained over 50% in the last seven days.

The global cryptocurrency market cap gained over 5% during this period as it is currently worth $2.45 trillion. The industry enjoyed a lot of attention as several bullish fundamentals made the news. One such is that post-halving, Bitcoin will see a huge demand increase.

The apex coin is consolidating gains at this time. As a result, some alts are seeing a significant boost. Will it last through the week?

Top Five Cryptocurrencies

1. Bitcoin (BTC)

Thursday marked the start of the current uptrend BTC is experiencing. Following small pauses, it reclaimed $66k. The coin added $1,900 which was almost 3% during the previous intraday session as it returned to the level.

However, the previous day’s action reveals an emerging price pattern. Since the uptrend started, bitcoin had one day of little or no price changes, followed by one with notable improvement in price. If this holds, it will experience another bullish performance in the next 24 hours. The largest cryptocurrency will attempt its pivot point at $68,131.

The moving average convergence divergence is printing bullish signals. At the time of writing, the 12-day EMA is in contact with the 26-day EMA. With an impending bullish divergence on the horizon, the coin is set for further climb. The histogram associated with matric shows that the bears have almost lost initiative on the BTC as there is almost no selling pressure.

A few hours ago, many observers were shocked to see Grayscale only sold one bitcoin today. With one of the biggest sellers reducing its volume, the apex coin will register another notable move within the next five days.

2. Ethereum (ETH)

Ethereum is printing a doji at the time of writing. It is currently struggling at $3,200 after it peaked at $3,260. The candle and price action illustrated the continuation a trend of a day with significant move and another with a doji. The trend has been in play since last Thursday and may continue as indicators are hinting further price increases.

The doji also suggests that the altcoin is gearing up for a surge as MACD’s histogram flipped fully bullish with the first green bar in over seven days. However, ETH trading volume is down by over 7% in the last 24 hours. Nonetheless, MACD is displaying an incomplete bullish divergence which puts the bulls at an advantage.  Although below 50, RSI is also on the rise and is at 47 .in response to buying pressure

The coin is currently trading at a critical level. The $3,200 served as a critical support where the bulls built demand concentration previously. Since losing it, the bears are staging selloff around the mark. Flipping and gaining stability above the said mark will result in an attempt at $3,400. However, there are strong indications of a small demand shock taking above $3,300.

3. Binance Coin (BNB)

Binance coin is on a bullish streak and has been on the uptrend since Thursday. As a result, it gained 15% over the last five days. However, it is unable to continue the uptrend despite the over 6% increase in trading volume over the last 24 hours.

RSI points to a small increase in selling volume as the culprit for the current price action as the coin is printing a doji. The candlestick may also be an indication of an impending downtrend as the bulls agree grinding to a halt. Additionally,  the asset is printing a bear flag following its previous trend.

The question is if the coin has peaked and if the declines will start this week. MACD is printing buy signals at this time. In response to the growing demand in the market, the histogram flipped green. Aside from MACD’s histogram, the 12-day EMA and 26-day EMA are diverging following a bullish convergence.

These are indications of the continuation of the bullish action. Per previous price movement, BNB retraced from a resistance it flipped once in the last fourteen days. The bulls will look to flip this mark and attempt to gain stability above $625. This is another critical level where the bears stage significant selloffs. Nonetheless, breaking above this mark will guarantee a retest of $650.

However, Fibonacci retracement is pointing to a possible recline to $574.

4. Avalanche (AVAX)

Avalanche experienced significant price increases over the last seven days. As a result, it is up by over 15% over this period. There was no indication of fundamentals playing any significant role in the surge, which means it experienced the same bullish sentiment the crypto market saw at the time.

With a mixed general sentiment, AVAX is printing a red candle as it is down by over 2% in the last 24 hours. Using the Fibonacci retracement to draw up support and resistance, the coin will look to gain stability above $39 and attempt $40 within the next five days. However, RSI is on the downtrend and at 43, placing the bears at an advantage and hinting at mounting selling pressure.

Fibonacci retracement is hinting at a possible drop to $33. This will happen if the bulls fail to defend the $36 support.

On the other hand, the moving average convergence divergence is printing buy signals at this time. The metric shows the asset had a bullish divergence which will result in further uptrends. MACD’s histogram is also on the bullish side as it is green.

5. Pepe (PEPE)

PEPE is currently up by more than 15%. Since Thursday, it has been on an uptrend and gained over 50% in the last six days with a prospect seeing more increases. The current intraday session is a continuation of the price climb.

The altcoin is up by over 11% following a 15% surge during the previous day. However, MACD is hinting at more increases. The indicator shows that the asset had a bullish divergence a few days ago. With RSI still on the uptrend, the bulls are gearing up for more uptrends.

Having gained stability above the 0.0000077, the coin will to retest $0.0000090 within the next five days. However, a change in market trajectory will send it trading as low as $0.0000066.

BTC prices over the last seven days was filled with a lot of volatility. During this period, the asset remained range-bound and failed to breakout. Nonetheless, it saw small changes in prices.

This trend closely mimics that of the global cryptocurrency market cap. Currently at $2.38 trillion, there was no notable change in value over the last 24 hours.

The much anticipated Bitcoin halving took place and is gradually coming to an end. Many BTC proponents were dissatisfied with how prices went and took to X to express themselves. They faulted ETFs as one of the reasons for the slow surge in prices.

The news on Solana also gained momentum. The project issued a new version for general use to reduce network congestion.

Other events with regard to prices took place. Let’s see how some assets in the top 10 performed.

1. Bitcoin (BTC)

Bitcoin saw three consecutive greens as the anticipation for the halving grew. During this period, it gained over 5% as it climbed to a high of $65,600. Regardless of the small bullish moments it saw, it will end the current with losses of almost 2%.

Currently printing a red candle, the apex coin is experiencing a small selloff following the notable gains it had. The decline came after it surged to a high of $65,710 and retraced due to small rejections. While the market is largely silent about the most recent moves, indicators are hinting at the resumption of the uptrend.

The moving average convergence divergence is printing buy signals at this time. The 12-day EMA is trending flat. However, the 26-day EMA is on a downtrend and will intercept its counterpart in a bullish convergence. Additionally, RSI readings show that in light of the small price decline, the apex coin is seeing a healthy amount of buying pressure.

A close above $65k today will offer the bulls more leverage to stir clear off $62k. Nonetheless, the previous price movement points to a possible correction below $64k. The buyers will look to flip BTC’s seven-day high at $66k to trigger a breakout.

2. Ethereum (ETH)

Ether is struggling with a small price decline after a failed attempt at $3,200. Currently printing a doji, the coin is yet to register any significant changes in value at this time. This is also the same candlestick it is printing on the weekly scale as it surged to a high of $3,280 and dropped to a low of $2,867 and is still trading close to its opening price.

Nonetheless, indicators like MACD and RSI are hinting at an impending breakout. In the last three days, the coin gained almost 6%. Due to this, the 12-day EMA is on an uptrend. The metric is near the 26-day EMA which indicates an impending bullish divergence within the next 48 hours. The relative strength index also maintained it bullish posture.

With ETH experiencing notable buying pressure, the bulls will look to sustain the current pressure. A close at the current price will offer them an advantage to break the $3,200 resistance and attempt $3,400.

However, the bears will look to continue the previous trend and stage a selloff at $3,200. Previous price movement also points to another price struggle after ether flips $3,300

3.  Binance Coin (BNB)

A green close during the current intraday session will mark the fourth consecutive for the asset. It’s been on an uptrend since Thursday as BTC and the rest of the crypto market picked up momentum. As a result, on the weekly scale, it is printing gains of over 2%.

With the huge volatility the asset enjoyed in the last seven days, indicators are moving accordingly. For example, MACD is printing buy signals at this time. The histogram associated with it is showing a reduction in selling pressure as the volume gradually reduces. This is the same reading on RSI as it goes above 50 for the first time in last seven days.

Additionally, the 12-day EMA and 26-day EMA are gradually bridging the gap between them. In the ongoing bullish convergence, both EMAs will intercept within the next 48 hours if the bulls keep up the current buying pressure.

However, the bears will attempt to stage a selloff at $600. This will place BNB in its previous trend of trading within the $579 and $600. Nonetheless, the readings from indicators put the bulls at an advantage as they are gearing to flip this trend. They will attempt to build enough demand concentration at $580 before a breakout.

4. Solana (SOL)

Solana experienced an almost 8% increase on Thursday following the announcement of a possible fix to it congestion issues. Trading volume surged by over 20% in response and the asset ended the day above $140. However, due to the three-day decline at the start of the week, it is yet to register any notable price improvement on the weekly scale.

Currently struggling at $150, it is printing a red candle which may mean more price decline in the coming hour. The Accumulation and Distribution chart also depicts a possible decline in buying pressure and an equal price correlation.

However, the moving average convergence divergence hints at a change in price trajectory. With the histogram turning pink showing a gradual decline in selling pressure, it also shows a steady rise in buying volume. The result is the small uptrend the 12-day EMA is seeing. In the coming week, SOL will see a bullish divergence.

In response, it will attempt to break $152. The current price decrease indicates that the bulls are gradually building demand concentration at $148. Sustaining prices within this region will offer the needed momentum to break $160.

It is also worth noting that the candlesticks pattern suggests that the asset had a bull flag and the the coin will see the effect in the coming days.

5. XRP

XRP spent the last seven days recovering from the previous week’s price decline. A notable trend during this period is the number of doji as it attempted to hold prices at a level. Following several drops to $0.46, it recovered and ended the day close to $0.49.

The previous day depicts a change in the altcoin movement. It gained over 5% as it returned $0.53. Nonetheless, the chart suggests that it is seeing small increase in selling pressure as it is struggling to keep prices above $0.52. It is worth noting that the current price is the first pivot support. Due to this, the coin must build momentum before testing the next critical mark.

RSI points a gradual decrease in buying pressure as it places the bears at an advantage. Still below 50, the metric is resuming its downtrend. However, MACD shows that XRP is maintaining its bullish trajectory. With both EMAs closing the gap between them, a bullish convergence is underway. Charts predict a divergence in the next 24 hours.

If this happens, the asset will bounce off $0.52 to reclaim $0.55. Based on previous price movements, there are no strong resistances until $0.57.

6. Dogecoin (DOGE)

DOGE joins the list of assets printing a red candle as it saw small losses. It failed to breakout from its seven-day high at $0.16. Nonetheless, before the current price struggles, it experienced a three-day hike that saw it over 7%. However, on the weekly scale, the asset is down by over 2%.

The bulls are accumulating around $0.16. Aside from price lingering around this mark, MACD suggests an impending uptrend in the coming days. The 12-day EMA is currently trending flat as the 26-day EMA continues its descent. With the ongoing bullish convergence, the coin must maintain the buying pressure it’s seeing to prevent further downtrends.

This is also what RSI hints as it is below 50 which places the bears at an advantage. The metric halted its uptrend due to the most recent change in trajectory. Nonetheless, MACD’s histogram points at a gradual decrease in selling volume which may explain the most recent slight decrease.

The bulls will look to continue accumulation in anticipation of a trigger. Following the introduction of the expected catalyst, the coin will flip $0.17. However, the bears staged selloffs around the mark more than once in the last seven days.

7. Toncoin (TON)

Toncoin continues price struggle at $6.14. It is down by over 9% on the weekly scale and indicators are hinting at further price decline.

The moving average convergence divergence is on the downtrend and showing no signs of recovering selling pressure increases. This is the same reading on RSI as it goes lower and is at 53 in response to the growing bearish actions.

With indicators putting the bears at an advantage, they may continue the selloff and send TON as low as $5.26. On the other hand, the bulls will attempt to stage a buyback at the said mark.

Most cryptocurrencies are grappling the effect of the largest price decline they suffered last week. While some are attempting recovery, others are yet to make such attempts.

This trend also reflected in the global cryptocurrency market cap as it is down by almost 5%. Currently worth $2.31 trillion, the market lost almost 10% over the last seven days. The main catalysts were two events that rocked not just the crypto market but traditional stocks as well.

The first major decline took place after JPMorgan announced its decline in net profit during the first quarter. Stocks like S&P saw a more than 2% decline following this announcement. It also spewed into the crypto market.

The Iranian-Israeli conflict also spread panic among traders as many feared WW3. From all indications, most cryptocurrencies are yet to recover from the effects of these events. How will they perform this week?

Top Five Cryptocurrencies to Watch

1. Bitcoin (BTC)

Bitcoin lost over 5% during the previous week. It dropped to a low of $61,308 as the downtrend bit harder. It also briefly broke the $71,500 resistance and sparked hopes of a return to a new ATH. All this faded following the two-day decline.

Currently printing a green candle, the apex coin is seeing notable buybacks. This comes after it retraced to a low of $61,654 some hours ago. A close with a hammer candlestick may result in the top coin seeing significant price increases within the next five days. It will also mean a retest of the $67,500 resistance.

The Relative Strength Index is hinting at a bullish outcome this week. A closer shows a gradual hike in the metric as it is 42, a little above its previous day’s reading. This shows the asset is seeing significant buying pressure which may enable the p=above predictions.

However, the Moving Average Convergence Divergence is showing no signs of a trend reversal as the 12-EMA continues downwards. It is currently below 0 suggesting a further price decline such as the level BTC experienced mid-January.

If this happens the apex coin is bound to retest $60,500. A flip could send it to sub-$60k within the next five days.

2. Solana (SOL)

Solana was one of the worst-hit coins from the previous dips. It lost 20% during this period as it retraced to levels it left in March. For example, on Saturday, it retraced to a low of $121 before rebounding and closing at $138.

Since the event, the coin has not gained much leverage from the low as it edged to retest it a few hours ago. It dropped to a low of $126 but is showing signs of recovery. At the time of writing, its trading at $136 which indicates the coin is printing a hammer candlestick. If the current day ends with this pattern, it may result in notable increases in the coming days.

The bulls will plot a return to $160 but faced massive rejections at $150 as observed in recent times. However, indicators do not support claims of further price increases. For example, MACD is on a downtrend and showing no signs of halting the trend. RSI is also below 40 which puts the bears at an advantage.

With possible bearish action taking over SOL in the coming days, it will retest last week’s low. Nonetheless, the bulls will stage buybacks at $125. If it fails, the coin could close the week in the sub-$120.

3. Toncoin (TON)

Toncoin price action Friday spotlights the resilience of the bulls. It saw buyback following a decline to $5.26 from $7.47. This led to a rebound and the asset closing with losses of more than 8%. The buying pressure gradually reduced on Saturday following its over 10% decline.

Currently, the coin is seeing small buying pressure after its dip to $5.92. As a result, the chart is printing a candlestick with close semblance with a hammer. Traditionally, this means that the cryptocurrency is set to start a notable price uptrend. If this happens, it will retest $7 within the next seven days.

However, MACD is showing a possibility of further price decline. The 12-day EMA intercepted the 26-day EMA indicating a bearish divergence. With the threat of further downtrends looming, the bulls will attempt staging massive demand concentration at $6. If it fails, it will retrace to a low of $5.26.

RSI also hints at a possible price decline to a low of $4.72. While this mark is not feasible this week, fundamentals speed up the process.

4. Polygon (MATIC)

MATIC retraced to a low of $0.59 during the previous week. The dip took place on Saturday when it had one of its biggest declines. It lost 14% on that day after previously losing 12% the day before. Attempts at recovery on Sunday were almost insignificant the coin lost over 20% on the weekly scale.

Since the new week, MATIC has experienced notable price struggles. The candles suggest almost equal control of the market as there is almost equal pressure from the sellers and buyers. As a result, it is printed a doji on April 15 and is currently printing another.

RSI is at 31 which suggests that the coin is almost oversold. A slip below 30 will trigger a buyback. However, this will happen between 20 and 30 which leaves room for more price declines. MACD is also hinting at further price decreases as both EMAs dropped below -0.05.

A return to last week’s low is inevitable. Nonetheless, for the remainder of the current intraweek session, MATIC will see small declines that will ensure it breaks $0.65. A massive decline not on the horizon at the time of writing which means a slim fighting chance for the bulls. They will attempt a return to $0.75.

5. Uniswap (UNI)

Uniswap downtrend slows after almost a full week of consistent price declines. It started on Tuesday and the asset failed to find support until Sunday. As a result, it lost over 30% on the weekly scale and dropped to a low of $5.90 before a rebound and a close at $7.53.

UNI is still experiencing significant decreases at this time. This comes after a more than 3% drop yesterday. Currently printing a doji, the asset is yet to register any notable positive change in value. Nonetheless, following the previous week’s events, the reduction in lost value could mean the bears are getting exhausted.

The Relative Strength Index points to a reason to believe the above statement. The coin is currently oversold. This will mean it is due for an uptrend. However, the bulls are showing no signs of soaking up the excess supply at this time.

This trend may result in further price decline and UNI dipping to $6. On the other hand, the reduction in volatility may continue over the next five days.