WEEKLY ANALYSIS – Bitcoin and Ethereum See Positive Trend, Solana Report Losses

Bitcoin has surpassed the psychological threshold of $24,000, returning to the prices prior to the FTX bankruptcy on last November.

Despite registered a substantial drop over the weekend, cryptocurrency market keeps experiencing a positive trend, with an upward price action and a focus on reaching the next significant resistance level.

Despite falling by 1.95% in the last 7 days, the price of Bitcoin (BTC) has surpassed $24,000 – returning to the prices prior to the FTX bankruptcy on last November – without showing an upward or downward direction, indicating a state of indecision in the market. The market direction is currently unclear and further developments should be monitored. The Bitcoin price today is $22,871.73, down 2,31% in the last 24 hour with a trading volume of $21,656,704,688, a live market cap of $441,033,262,911 and a circulating supply of 19,282,900 BTC coins.

Ethereum (ETH) has been consolidating in a narrow range for several weeks and there is a possibility of a bullish scenario where a break above the $1800 resistance level could lead to a potential rally towards $2300. The Ethereum price today is $1,632.70, down 2.31% in the last 24 hours with a trading volume of $7,512,070,552, a market cap of $199,800,296,878 and a circulating supply of 122,373,866 ETH coins. In the last 7 days, ETH has gained 1.97%.

Shiba Inu (SHIB) was among the top altcoin gainer last week, gaining 24.12% in the last 7 days. A positive week also for Cosmos (+8.06%), Dogecoin (+7.71%), Polygon (+7.34), BNB (+6.49%) and Polkadot (+7.10%). On the other hand, Solana (SOL) was among the worst performers, down 2.96% in the last 7 days.            

The global crypto market cap is $1.06T, a 2.21% decrease over the last day. The total crypto market volume over the last 24 hours is $52.20B, which makes a 36.17% increase.