Search
Close this search box.

Week In Review: Are We In A New Crypto Bull Run? Watch These Levels

SHARE

SHARE

Table of Contents

End of week trading result for the top 36 cryptocurrencies by market capitalization

The crypto market ended the trading week in the green as we saw massive last-minute rallies across the Bitcoin and Altcoin markets.

We also saw positive fundamentals come out for Bitcoin during the end of the week as JPMorgan Offers Access to Six Crypto Funds? Find Out More. This is very positive for the crypto market, it means more institutional demand for Bitcoin and a much larger adoption in the coming years.

For the short term, that means institutional money is flowing into cryptos. And with more demand comes higher prices!

The Bitcoin Rally Is Far From Over

Are We In A New Crypto Bull Run? Watch These Levels
Are We In A New Crypto Bull Run? Watch This $42k key support for Bitcoin on the 4-hour timeframe

Right now, Bitcoin is trading above key support on the 4-hour timeframe. This $42,411 price level served as a key resistance on numerous occasions before Bitcoin finally broke through it.

This makes it very important for the Bitcoin bulls to continue pushing the price above it because if Bitcoin gets back below that $42,411 key level, we might just face more resistance and price weakness in the coming days.

Are We In A New Crypto Bull Run? Watch These Levels. Bearish price prediction for Bitcoin. Can Bitcoin hold the $42k support on the 4-hour timeframe?

So for this Bitcoin bull run to continue into next week, the Bitcoin price must continue to trade above the $42,411 support region. A break below this support level only means a sell.

To trade Bitcoin with leverage, sign-up to Bybit right now! You can also get up to $1,610 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.

[bybit]

ETH Trading Above Key Support

Are We In A New Crypto Bull Run? Watch These Levels
Are We In A New Crypto Bull Run? Watch These Levels for ETH on the 4-hour timeframe. Is it time to buy Ethereum?

ETH also had a wonderful week, closign up more than 13% in gains. This massive move by Ethereum caused a small Alt-season that saw some Altcoins like ICP up 35% for this week alone!

For our bullish price prediction for ETH read The ETH Rally Has Started! Watch This 36% Target Next!

The ETH Rally Has Started! Watch This 36% Target Next!
Ethereum bullish prediction, Price to $4K next? The ETH Rally Has Started! Watch This 36% Target Next!

In that analysis, we broke down the key levels to watch, as well as bullish targets we expect the Ethereum price might get to in the coming days.

We can already see this bullish prediction playing out and might continue to do so all through next week.

How Will This Affect Altcoins?

ICP surged more than 35% in gains this week alone. Can these kinds of massive gains in Altcoin continue into next week?

We can already see the Altcoin market becoming very bullish again! The chart above is that of ICP/USDT the Altcoin gained over 30% in gains for this week alone.

This Altcoin bullish trend would last for as long as the ETH price continues to rally. And with a potential 35% price surge likely for ETH, we might see even more massive returns for some Altcoins in the coming days.

This week’s Cryptocurrency Performance by Market Cap

Name7 Days Return30 Days Return
BTC10.73%30.32%
ETH18.84%41.53%
BNB3.18%8.30%
DOGE19.94%11.01%
ADA9.41%6.08%
XRP8.70%23.55%
DOT8.20%27.02%
BCH5.75%11.04%
LTC6.57%11.77%
LINK4.58%24.68%

[bybit]

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

SHARE

Related Post

Comments are closed.

Buy / Sell Bitcoin

Rating: 89%

Claim up to $8,800 in Bonus

binance

Rating: 85%

World’s largest crypto exchange

Our Favourite Trading Platforms

bybit-logo

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

prime-xbt

Rating: 91%

Claim up to $7,000 in Bonus

100x Leverage

Follow Us