5 Coin Weekly Forecast | BTC ETH XRP BNB SOL

TL；DR

Over the past week, the crypto market has generally seen an upward trend, with mainstream currencies experiencing mixed gains, with BTC and SOL performing particularly well. Overall, although the overall change in funds in the market is relatively small, maintaining within the $1.14 trillion range, the performance of the crypto market for a week is in line with current bullish expectations but is mainly limited to mainstream currencies, and there is no trend of a general uptrend in the market. This indicates that the current market funds are increasingly concentrated in top mainstream currencies, with Bitcoin accounting for over 50%. At present, the top five cryptocurrencies in the total market value of the crypto market are Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Ripple (XRP), and Solana (SOL).

In the past Friday, there has been a significant upward trend in major tokens. This article will study the performance of major assets, explore the factors that affect their price trends, and conduct corresponding analyses to predict their future short-term price trends.

Bitcoin（BTC）

Bitcoin has risen by about 11% this week and is currently closing at around $29,920. Bitcoin has shown a fluctuating upward trend this week, significantly approaching the $30,000 mark. Of course, the price of BTC also experienced some fluctuations within a week, reaching a high of around $30,200 and a low of $27,000 at the beginning of this week. The price of Bitcoin not only achieved the expected rebound this week but also showed a further upward trend.

Analysis suggests that the bullish trend of Bitcoin in the market has further intensified this week, with a large influx of market funds, which has also led to a relatively good performance of Bitcoin prices this week. At present, whether it can stabilize in the range of $30,000 for fluctuations is a key impact on the currency in the future. However, if this probability is only seen from market cycle fluctuations, it is a high probability event in the next one or two weeks.

Bitcoin Price Data (Data Courtesy of CoinMarketCap)

Ethereum（ETH）

Ethereum rose 4.62% this week to close near $1,635. The trend of the Ethereum currency fluctuated significantly this week, with a weekly low of around $1,550 and a high of around $1,650. Overall, it has achieved a relatively good recovery compared to the situation in the past two consecutive weeks.

However, the price trend of Ethereum is not very stable, and the fluctuation range is still very large. The current price increase is also a manifestation of the market trend. Ethereum is not in a generally bullish state of confidence like Bitcoin, so the probability of Ethereum rising or falling in the future will show a relatively large fluctuation state.

However, it is still a high probability event for Ethereum to remain volatile and upward in the next week or two, which is predicted by the trend of market cycle fluctuations. However, if the total amount of funds in this currency wants to increase further, it needs to be judged based on the impact of external market news. The subsequent trend will still be strongly correlated with Ethereum compared to the same period last year.

Ethereum Price Data (Data Courtesy of CoinMarketCap)

Binance（BNB）

BNB rose 2.59% this week and closed around $215 this week. This week, the Binance officials destroyed a considerable amount of BNBs to maintain stability and increase coin prices. Currently, the stability of coin prices has been maintained, but the upward trend is not significant.

Analysis suggests that the price trend of BNB has maintained its usual small wave dynamic trend, with the coin price maintaining a box court movement within a range and still fluctuating back and forth between $210 and $220. Although there was a low point of $207 this week, the duration was very short. Overall, the price of BNB has remained relatively stable for a long time. The most critical price point for the future trend is $220. However, as the market gradually recovers, the probability of BNB following the market trend to achieve an increase is still relatively high.

BNB Price Data (Data Courtesy of CoinMarketCap)

Ripple（XRP）

XRP rose 6.53% this week to close around $0.5213, once again returning to above the $0.5 level. The price trend of XRP also followed the overall market situation this week, showing a rapid increase in the near weekend period, directly fluctuating between 0.5 and 0.52 US dollars.

Analysis suggests that the price of XRP remained above $0.5 for a long time earlier, and last week it fell below this price level, triggering a cover-up situation. This week, with the market’s recovery, the price of XRP also achieved a rapid increase, but currently there is a lack of further upward signals. It is crucial to maintain the current price fluctuation trend in the next one or two weeks. Considering the overall bullish trend in the market, the price of XRP is likely to fluctuate back and forth between $0.51 and $0.55 in the next one or two weeks, and the possibility of falling below $0.5 again is relatively low.

XRP Price Data (Data Courtesy of CoinMarketCap)

Solana (SOL)

SOL rose 31.30% this week to close near $29. The price of SOL has achieved a significant increase this week, which is different from the various volatile trends in the previous two weeks. This week, SOL has basically shown a stable upward price curve. The price of SOL not only achieved a rebound from the previous week’s close, but also achieved a certain degree of price increase this week, with a high point exceeding $30.

Analysis suggests that SOL’s performance this week is actually a continuation of the impact of earlier ecosystem recovery and various actions. Although the market was severely hit by news last week and the upward trend of currency prices was temporarily postponed, SOL’s performance ranked first in mainstream currency price growth this week. Based on the current development trend of the Solana ecosystem, the future performance of SOL can still be expected.

SOL Price Data (Data Courtesy of CoinMarketCap)

What is to come?

Compared to last week, the price performance of BTC, ETH, BNB, XRP, and SOL this week is generally in a full-line upward trend, with BTC as the representative, reaching a key price point. This is a good thing for the market, and the only concern is that currently, crypto users generally tend to engage in low-risk investment behavior, which makes funds more concentrated in top currencies. This may not be a particularly good thing for the overall market in the long run, but for the current situation, the advantages outweigh the disadvantages. The price trends of several mainstream currencies have been explained separately in the short term, but the temporary impact of news factors cannot be ruled out. More accurate information needs to be obtained through daily market movements.