Most cryptocurrencies’ performance over the last seven days were some of the best over the last three weeks. Although these assets failed to see massive increases, nonetheless, these positive changes were notable and reflected in the global cryptocurrency market cap.
The sector kicked off Monday with significant bullish sentiment. As a result, it had a modest rise. Before the day’s end, it achieved a high of $1.14 trillion. It started trading at $1.11 trillion. A few days after hitting a low of $1.10T, the industry rose to its weekly high on Sunday, peaking at $1.15T.
It wasn’t a large increase, but it did show that the crypto market had improved slightly from the previous week.
We noticed that a new altcoin is gaining traction by looking at the top 100 listings. The asset climbed by about 16% during the course of the preceding seven days, turning major levels and exhibiting a bullish attitude. AGIX is a very recent inclusion given that it only joined the top 100s last week.
PEPE, on the other hand, suffered the most loss during this time. It lost more than 16% as it kept going down. For optimism, losses of roughly 11% followed.
With regards to fundamentals, not much happened. Nonetheless, according to China’s local news outlet The Paper, the Beijing Municipal Science and Technology presented a whitepaper on web3 innovation and development on Saturday at the Zhongguancun Forum, praising web3 as an “inevitable trend for future internet industry development.”
Over the next five days, there are many indicators that suggest extreme volatility. Let’s look at a few potential assets that might enjoy this sentiment.
Top Three Cryptocurrencies to Watch
1. Bitcoin (BTC)
BTC opened at $27,225 but fell back as selling pressure increased. It retested the $27,000 barrier and fell as low as $26,076. Although it bounced back, it finished at $26,325 and lost more than 3% of its worth. It’s important to note that throughout the previous week, this was the only red candle on the chart.
The biggest cryptocurrency broke the $26,000 barrier the following day. It declined to $25,878 before rising. The asset under examination closed at $26,478 at the end of the session with no appreciable change in value.
On Sunday, when the bitcoin began at $26,875 and made a try at the $28k resistance, there was the biggest increase of the week. Because it ended just barely above the critical level and hit a peak of $28,248 it was highly successful. In the end, it recorded profits of more than 4%.
On the weekly scale, the top coin gained almost 5%. This also makes it the first time in three weeks that the asset is closing a seven-day period on a green. Indicators are also bullish to this effect.
With this week in mind, BTC is beginning to revert from the gains it made the previous four days. As a result, it reduced volatility. Additionally, this is the situation as of the time of writing.
Bitcoin has now seen a two-day losing streak. This is also reflected in the Relative Strength Index, which is at 52. But we observed a further rising concentration of demand, offering a transient support near $27,500.
This emerging barrier is very important as a flip may guarantee a return to the sub-27k. On the other hand, this may also turn out positive as the bulls may build enough demand concentration to attempt $29k
2. Ethereum (ETH)
Ethereum also had many interesting highlights from the previous week. A look at the weekly chart suggests the the largest altcoin saw its biggest positive change in almost five weeks as it gained more than 5%. The candle also revealed that the asset sank to its lowest in two weeks.
This happened on Wednesday. The asset kicked off trading at $1,854 and retraced as selling mounted. During this period, it flipped a key support; the $1,800 barrier. After breaking it, it dipped to a low of $1,777. Although it recovered, it closed with losses of almost 3%.
Nonetheless, the first two days of the week were bullish and the largest altcoin gained almost the same value it lost.
It is also worth noting that ETH dipped further on Thursday. It retraced below $1,800 but rebounded at $1,760. It surged above the said mark before the session ran out.
On the other hand, Ether had its biggest surge on Sunday. It kicked off trading at $1,831 and slowly advanced at $1,900. The largest altcoin peaked at $1,920 before retracing to a close at $1,909. This is an indication that the asset gained more than 4%.
Sunday’s price performance was one that many expected would spill over into the current week. However, this is not the case as the crypto under consideration is struggling to hold key levels. A clear indication of this was when it lost $1.9k during the previous intraday session.
Ether is still grappling with the effect of strong battle for dominance. Based on price movement, ETH may retrace to a low of $1,800 as this was the trend two weeks ago. Nonetheless, strong fundamentals may send the asset as high as $2k
3. Quant (QNT)
Quant price movement is one that made many believe it’s altseason. It rebounded from the downtrend that plagued it for weeks.
The main event happened on Friday as it retraced to its lowest in more than three months. It flipped the $100 support and hit a low of $96. The recovery sparked a price rally that saw the cryptocurrency gain more than 8% in three days.
The altcoin is also enjoying a spillover of this sentiment. During the previous intraday session, QNT gained more than 5%. During the current session, it is up by almost 4%. However, indicators are blaring warnings.
For example, the Relative Strength Index is fast-approaching 70 which means the coin may be oversold if the increase continues. A massive is imminent.
