The past week has led to stagnation in most of the cryptocurrency market, with most assets moving minutely in either direction. However, there have been a variety of exceptions to this in the top 100, with assets like XRP and LTC starting to accelerate in price, while others like SNX and DOT have lost value substantially. As of March 26, the cryptocurrency market capitalization is $1.16 trillion, a $200 million decrease from the previous week, but an increase of 1.53% in the last 24 hours.
Bitcoin (BTC)
Opening the week at $27.97k, Bitcoin has been subject to a lot of volatility over the past week, which has taken it from the upper limits of $26k to the mid-$28k region. On the 19th, BTC immediately plunged below its 7-day SMA, before starting to pick up some value and pulling back above this threshold. This trend continued until the 21st, when BTC price surged to a weekly high of $28,716 before it fell sharply to a weekly low of $26,760 in the space of four hours. Following this, BTC stayed well below its 7-day SMA until the 23rd, where it then spiked, but quickly dipped below the 7-day SMA threshold. As a result, BTC closed the week at around $27,700.
Having resumed the vicious volatile price trajectory, BTC appears to be facing adversity in the $27.8k region, and this appears to be acting as a new resistance zone. As a result, it appears that the lower region of $27k has become the new average trading price. In total, BTC fell 0.62% this week.
Bitcoin price data (Data courtesy of gate.io)
Synthetix (SNX)
Following last week's liquidity injection as a result of DWF Labs' $15 million acquisition of Synthetix, SNX began a downward trading trajectory at the start of the week. Starting the week at $2.89, SNX price briefly surged above $3 and reached a weekly high of $3.1853 before it began to progressively decline through the upper region of $2.9. On the 20th, SNX finally dipped below its 7-day SMA, but tried to hold its own by pushing higher once more, before it fell below the threshold for good. In the days that followed, SNX fell further into the mid to low $2 region and eventually closed the week near its weekly low of $2.3809.
Having deviated from the recent rise in value, SNX appears to be forming a gradual downtrend that is likely to materialize next week, which could push it towards its monthly low of $2.0372. In total, Ethereum fell 15.59% last week.
SNX price data (data courtesy of CoinMarketCap)
XRP (XRP)
Entering the week at $0.39, XRP had a positive week, with its penchant for volatility playing to its advantage as it far exceeded its 7-day SMA and pushed it towards the $0 target zone. ,fifty. Throughout the 19th and mid-20th, XRP was pushed below its 7-day SMA, before he rose sharply to a weekly high of $0.4906. From this high, XRP fell to between $0.425 and $0.44 and was relatively constant at this level through mid-week, despite spikes in value. As a result, XRP price closed the week at $0.445.
With this immense volatility, XRP is likely to continue to experience this in the coming months, which can be linked to the upcoming SEC vs Ripple lawsuit verdict, which has resulted in mixed sentiment across the XRP community and broader cryptocurrency communities. . However, with this volatility starting to play in XRP's favor, it is possible that this momentum could carry over into the next week and push it further towards $0.45. Over the past week, XRP has increased by 13.91%.
XRP price data (data courtesy of CoinMarketCap)
Polka Dots (POINT)
Over the past week, Polkadot has suffered a devastating decline as a result of the volatile trend of the past month. Starting the week at $6.48, the DOT fell sharply below its 7-day SMA and failed to approach the level for the rest of the week. DOT quickly began to decline through the $6 region on the 20th and 21st, before showing potential signs of recovery, where it pushed towards $6.4, however this was quickly interrupted by further price declines throughout the remainder of the day. week. DOT price hit a weekly low of $5,863 and closed the week at around $6.
Having continued the recent downtrend, the DOT appears to be going deeper into a downward spiral and is potentially pushing towards its monthly low once again. In the next week, it is plausible that the DOT will continue along this trading trajectory and go deeper into the $5 zone. Over the past week, DOT fell 7.46%.
DOT price data (data courtesy of CoinMarketCap)
Litecoin (LTC)
Over the past week, LTC has undergone a progressive upward tilt. Starting the week at $84.7, LTC fell through its 7-day SMA and bottomed out at $78.1 on the 20th. However, on the 22nd, LTC started to gain some momentum and realized a strong rally in value that propelled it through the $80 region and led it to continue increasing in value at a relatively steady pace until reaching a weekly high of $95.33 on the 23rd. LTC then began trading horizontally between $90 and $94, leading it to close the week at $92.85.
With the recent volatile downtrend looking to have been interrupted, it looks as if LTC is pushing towards the $95 zone, and that, as long as it can sustain its current bullish price momentum, could figure this out as early as next week. Throughout the past week, LTC price has risen by 7.55%.
LTC price data (data courtesy of CoinMarketCap)
