Top 5 Price Prediction Weekly Forecast

TL; DR

The past week has been immensely volatile for the entirety of the cryptocurrency market. With the week entering on a stagnant note, the wider market valuation began to fall substantially below the $1T threshold as assets across the market were subject to crashes, with the likes of Bitcoin and BNB shedding over twenty percent at their lowest points. However, toward the end of the week, the market began to witness a sharp uptick in volume and activity, with a majority of assets leveling out at the same level they entered the week with. As of the 13th of March, the global crypto market cap is at $1.03T and has witnessed a 7.98% increase in the past 24 hours.

Bitcoin (BTC)

Opening the week at $22.42k, Bitcoin remained strongly above its 7-day SMA throughout the 6th before it began to progressively slide into the upper $21k region. Appearing to have bottomed out at around $21.6k, Bitcoin then sharply fell on the 10th and continued to push lower, leading it to a weekly low of $19,628.25. Bitcoin began to recuperate some lost value throughout the 11th, before seemingly entering a more stable trading pattern between $20.4k and $20.6k. However, on the later half of the 12th, BTC began to accelerate upward, leading it to close the week just above its 7-day SMA at $22.53k – a weekly high.

Having continued the recent trend of immense volatility, it is likely Bitcoin will be subject to this in the coming week, despite it closing on a high. It is plausible that due to market conditions and wider market events that Bitcoin may continue to endure adversity in the coming week, yet it remains evident that the current average appears to be around $22.5k. In total, BTC rose by 0.66% this week.

Bitcoin price Data (Data Courtesy of CoinMarketCap)

Ethereum (ETH)

Having started the week hovering below its 7-day SMA at $1,563, ETH remained steadily around this region until the 9th, when it began to progressively decline further toward $1,500. Yet, on the evening of the 5th, Ethereum saw a sharp decline that plunged it toward $1,400 and led it to realize a weekly low of $1,378.38 on the 10th. Ethereum began to see a progressive incline in value that pushed it further toward $1,480. On the 12th, however, ETH began to see a sharp uptick in value that propelled it to a weekly high of $1,611, which it closed the week on.

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 indicated by the substantial volatility seen throughout the week. In total, Ethereum rose by 3.58% this past week.

Ethereum price Data (Data Courtesy of CoinMarketCap)

XRP (XRP)

Entering the week at $0.37, XRP was subject to significant spikes in value throughout the week. From the 7th onward, XRP began to progressively rise above $0.38 and on the 9th XRP reached a weekly high of $0.3977 and continued to trade around this region for the majority of the 9th. However, this positive rise in value was quickly extinguished on the 10th as XRP was subject to a sharp fall that volleyed it between the $0.37 and $0.36 region until the end of the week. However, on the late hours of the 12th, XRP reached a weekly low of $0.3525 before it rose to $0.37 and closed the week at this level.

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 display a comparable level of volatility. Across the past week, XRP increased by 2.25%.

xrp price Data (Data Courtesy of CoinMarketCap)

Cardano (ADA)

Across the past week, Cardano has been subject to immense volatility, which led it to plunge in value throughout the entire week. Having entered the week at $0.33, ADA began to swiftly dip beneath its 7-day SMA and decline through the $0.33 and $0.32 regions. On the 9th, ADA declined further, leading it to a weekly low of $0.3001, yet, it began to rebound moderately and push back toward the $0.32 region. On the 12th, with ADA entering the day just below $0.31, Cardano sharply rose and pushed to $0.34 and closed the week at this level.

With this rapid and decimating bearish trading trajectory, ADA appears to have fixated on a downward trading pattern that is likely to ensue throughout the coming week considering the newly established weekly resistance near $0.35. However, considering the sharp uptick in value that closed the week, it is plausible that this upward momentum may disrupt the recent downward trading pattern. Across the past week, Cardano rose by 1.69%.

ada price Data (Data Courtesy of CoinMarketCap)

BNB (BNB)

Across the past week, BNB has been subject to notable volatility once again. Having entered the week at $288, BNB traded hands between $284 and $290 until the 9th, when it pushed to a weekly high of $292.67 and appeared to be set for a smooth sailing week firmly above its 7-day SMA. However, this was short-lived, as, on the evening of the 9th, BNB plunged toward $272 and reached a weekly low of $265.88 on the 10th. BNB began to moderately rebound and push through the lower $270 region until the 12th, where it then began to climb upward, leading it to close the week on $290.
The notable volatility witnessed by BNB across the past few weeks is likely to extend into the coming week, suggesting that it is likely BNB may potentially be forced further toward $260. However, providing BNB can bypass this negative sentiment, it is likely that it could continue to push against the resistance zone of $293. Across the past week, BNB has increased by 1.53%.

BNB price Data (Data Courtesy of CoinMarketCap)