WEEKLY CRYPTO PRICE ANALYSIS: BTC, ETH, BNB, SOL, XRP, ADA, And DOGE

Weekly crypto price analysis for major tokens such as Bitcoin( BTC),  Ethereum (ETH), Binance(BNB), Solana(SOL), Ripple (XRP), Cardano(ADA), and Dogecoin(DOGE) shows a sideways outlook for the market. Most digital assets display negative momentum and challenging resistance levels, with slight correction over the past 24-hours.

Leading the pack, Bitcoin (BTC) has successfully maintained its position below the $61,000 mark, showing signs of consolidation. The broader market has mirrored this negative trend, with significant selling interest observed across several key cryptocurrencies with the late pullbacks. Crypto exchanges are having a frenzy with cryptocurrency trading.

Ethereum (ETH), holding the title of the second-largest digital currency by market cap, has not been left behind. This week saw Ethereum breach the $3,300 support level, a bearish signal reinforcing the negative market sentiment.

Similarly, Binance Coin (BNB), Solana (SOL) have significantly contributed to its downtrend performance.

XRP has also recorded a slight weekly decrease of over 2% and is trading below the $0.47 resistance level. Cardano (ADA) and Dogecoin (DOGE) are not far behind, with ADA depreciating by almost 2% and DOGE decreasing more than 3%, reflecting a volatile market.

1. Bitcoin(BTC)

Bitcoin has shown a bullish trend in the weekly crypto price analysis, consistently finding strong support above the $61,000 mark. Currently, Bitcoin stands at $60,702 after a slight correction from the $63,000 resistance level. Bitcoin’s market capitalization crosses the $1.1 trillion threshold. Over the last week, Bitcoin has witnessed a decrease of over 8% in value, signaling a bearish momentum in the marketplace.

Bitcoin price chart: TradingView

Technical indicators further reinforce the bearish outlook for the BTC/USD pair, with a majority signaling a sell. The Relative Strength Index (RSI) demonstrates below-average readings, reflecting a potent selling pressure within the market. Additionally, the Moving Averages Convergence Divergence (MACD) indicator has experienced a bearish crossover, suggesting the potential onset of a new bear market phase. The 20-SMA and 50-SMA underscore this bullish trend, with the 20-SMA providing sturdy support for Bitcoin’s price.

2. Ethereum (ETH)

The weekly crypto price analysis for Ethereum, the market’s second behemoth, mirrors this bearish sentiment, dipping below $3,400 in the last week. The demand for ETH has been markedly mere, with the cryptocurrency recording a slight dip of almost 6% within the same period. Ethereum’s current trading price is $3,367, with a slight dip of 0.31% in the past 24 hours. With a market capitalization exceeding $449 billion, Ethereum is the second-largest digital currency in terms of market cap.

Ethereum price chart: TradingView

The technical landscape for ETH/USD displays a bearish picture, with key indicators aligning on the bearish side of the spectrum. The RSI stands at the 55 mark, indicating neutral market demand. The MACD’s bullish crossover points towards a continuing negative trend for Ethereum. Moreover, the 20-EMA and 50-EMA serve as significant support levels, bolstering Ethereum’s bullish posture in the market.

3. Binance Coin (BNB)

Binance Coin, the proprietary digital asset of the globally recognized Binance exchange, has showcased a bearish pattern over the recent week, trading below the $560 level. The market’s demand for BNB has decreased, resulting in a valuation decrease of over 6% within the last seven days. 

Presently, Binance Coin’s market capitalization stands impressively over $83 billion, positioning it as the fourth-largest cryptocurrency by market size. BNB’s trading price is $567, marking a slight 1.63% decrease in the past 24 hours.

Binance price chart: Tradingview

Technical indicators for the BNB/USD pairing suggest a consolidation after a continued upward movement, with a consensus among indicators leaning towards a buy position. The Awesome Oscillator’s position above the zero line signals a continuing bullish momentum for Binance Coin. Additionally, the 20-SMA and 50-SMA serve as pivotal support levels that may catalyze the asset toward encountering new resistance thresholds. Both the RSI and MACD indicators align with a bullish future for BNB.

4. Solana (SOL)

Solana, marking its presence as one of the standout losers over the past month, has witnessed its price decrease beyond $140. This altcoin has been on a bearishascent, bolstered by decreasing purchasing pressure. Currently, Solana is priced at $135, with a slight decrease 3% increase over the last week and a monthly decrease of 1%.

Solana price chart: Tradingview

If the bears mounts more pressure, Solana will find substantial support at the $130 threshold. The technical outlook for SOL/USD hints at a downtrend, with most indicators advocating a neutral. Venturing toward the oversold territory, the RSI signifies intense market interest in Solana. The MACD echoes this bearish sentiment, while the 20-MA supports SOL’s current market position.

5. XRP

XRP has recently embarked on a bearish journey after spending most of June around the $0.50-.$0.45 mark. The XRP/USD pair is still below this level, oscillating around the $0.50 resistance point. The past week saw an XRP decline of approximately 7%, with its current trading value at $0.4661.

XRP price chart: Tradingview

If XRP’s momentum is sustained, breaking through the $0.50 barrier might set its sights on reaching $0.55, though this level presents a formidable challenge. For bears to regain dominance, they must depress the price below the $0.42 mark. Technical indicators, including moving averages and oscillators for XRP/USD, endorse a neutral stance, with the majority signaling a buy. 

The Relative Strength Index, below 50, underscores the weak market demand for XRP. The MACD indicator’s incoming bullish crossover hints at the potential for further price ascension, with the 20-day EMA and 50-day SMA reinforcing XRP’s support base.

Cardano(ADA)

Weekly crypto price analysis shows that ADA/USD has been trading on a neutral over the past week, with green and red candlestick patterns dominating the charts. ADA is trading at $0.3789, with a market capitalization of over $13 billion.

Cardano price chart: Tradingview

Technical indicators for ADA/USD also support a neutral outlook, with most indicators showing a buy signal. The RSI is hovering above 40, indicating a weak buying pressure in the market. However, the MACD indicator has formed a bullish crossover, showing potential for further upside in price. The 20-MA and 50-MA are acting as immediate support levels for ADA.

Dogecoin(DOGE)

Dogecoin, the meme-based cryptocurrency, has seen a dip in price in the past week. Dogecoin has been trading below $0.15 over the past week, with a decrease of more than 6%. Currently, the Dogecoin is at $0.1207, with a 24-hour decrease of 4 percent.

Dogecoin price chart: Tradingview

The technical indicators for DOGE also support a neutral sentiment. The MACD indicator has shown a bullish crossover, indicating an increase in buying pressure in the market. The RSI is hovering above 50 levels, indicating bullish momentum. The 20-day EMA is also above the 50-day SMA, supporting a bullish trend.

Weekly crypto price analysis conclusion

Weekly crypto price analysis of popular digital assets shows that most are showing mixed signals and may surge to new highs soon. The red candlestick pattern on the weekly charts also suggests that sellers are in control and may continue to push prices higher.