Top 5 Price Prediction Weekly Forecast

TL；DR

Across the past week, the cryptocurrency market has once again begun to fall in volume following the previous week’s upward momentum. A majority of the top 20 assets fell by up to 10% in the past week, resulting in a market cap decrease of 600 million, with the total market capitalization realizing $1.02T. This progressive decline in volume across the past two weeks appears to be indicative of a marketwide price correction, which has thrust much of the top 100 into a downward spiral as assets begin to near a new stable price region.

Bitcoin (BTC)

Opening the week at $23.55k, Bitcoin remained strong until the 28th, before it sharply declined above its 7-day SMA and traded in the lower regions of the $23k zone. However, on March 1st, BTC rebounded briefly, reaching a weekly high of $23,847.51, before it began to progressively decline once again into the early hours of the 2nd. From the 2nd onwards, Bitcoin was subject to an immense drop in valuation, plummeting from the mid $23k zone to the mid $22k zone on the 3rd alone, before trading horizontally in the latter region for much of this week. As a result, BTC reached a weekly low of $22,238.
pushing above the $25k threshold and reaching a weekly high of

Having continued the downward trajectory painted by the week prior, it is likely based on the data established in the latter half of this week that BTC will continue to trade horizontally between $22.6k and $22.2k. In total, BTC fell by 4.63% this week.

Bitcoin price Data (Data Courtesy of CoinMarketCap)

Ethereum (ETH)

Having started the week hovering below its 7-day SMA at $1,640, ETH began to rebound above this threshold on the 28th, soaring into the $1,660 region. ETH then began to decline progressively, teetering on the cusp of $1,610, before it spiked above its 7-day SMA once again and remained consistently above this throughout the 1st and the 2nd, which led it to reach a weekly high of $1,670. However, on the morning of the 3rd, ETH was subject to a sharp decline, which plummeted it toward the mid-region of $1,500, which subsequently led to a weekly low of $1,551. ETH has since traded horizontally around this zone.

Having deviated from its recent trend of losing value in the earlier portion of the week before accelerating in value, Ethereum appears to have remained in a correctional trading trajectory, which is pushing it further toward the $1,500 zone. In total, Ethereum fell by 4.53% this past week.

Ethereum price Data (Data Courtesy of CoinMarketCap)

XRP (XRP)

Entering the week at $0.377, XRP was subject to immense volatility throughout the entirety of the week, which led it to sharply swing upwards and reach a weekly high of $0.3841 on the 2nd, after it had been volleyed above and below its 7-day SMA. XRP then began to decline from this high, which led to a sharp decline on the 3rd totaling in a weekly low of $0.3602. From this point XRP began to progressively regain its footing, leading it to close the week at $0.367.

With this immense volatility, XRP will likely continue to experience this in the coming months, which can be associated with the imminent SEC vs Ripple lawsuit verdict, which has resulted in mixed sentiment throughout the XRP community and the wider cryptocurrency world. In the coming week, XRP may enter and demonstrate a similar level of volatility following an initial period of horizontal trading activity. Across the past week, XRP fell by 2.70%.

xrp price Data (Data Courtesy of CoinMarketCap)

Cardano (ADA)

Across the past week, Cardano has been subject to immense volatility, having entered the week at $0.37, ADA began to swiftly dip beneath its 7-day SMA and decline through the $0.36 and $0.35 regions respectively. On the 3rd, ADA declined further, leading it to a weekly low of $0.3294, yet, it began to regain some ground and push toward $0.35 once again. As a result, ADA closed the week at $0.34.

With a sudden bearish momentum, ADA appears to have fixated on a downward price trajectory that is likely to ensue throughout the coming week considering the newly established weekly resistance near the $0.35. Across the past week, Cardano decreased by 8.39%.

ada price Data (Data Courtesy of CoinMarketCap)

BNB (BNB)

Across the past week, BNB has been subject to substantial volatility once again. Having entered the week at $308, BNB sharply declined and spiked throughout the 28th-2nd, before it sharply fell on the 3rd abd began to push toward a weekly low, which was realized on the 5th, totaling $287.07. Since this point, BNB spiked briefly and began to trade horizontally between $290 and $293, leading it to close the week on a low of $289.

The notable volatility witnessed by BNB this week and the week prior is likely to extend into the coming week, insinuating that it is likely BNB may potentially be forced further below $290, with little sign of it pushing through the newly established weekly resistance zone of $293. Across the past week, BNB has decreased by 6.43%.

BNB price Data (Data Courtesy of CoinMarketCap)