After a strong week, Bitcoin has managed to close higher for the week, up a few bucks to $8,297. The bulls weren’t done there, though, as they pushed the price higher again on Monday, pushing the price to $8,330. According to TradingView’s charts however, this is the last in a series of “bullish” weeks for the coin, which have all ended in losses, and may be the last week of losses for Bitcoin this year (or the last week of gains for the coin).
After the bullish run in Bitcoin and Ethereum in the last seven days, it’s no surprise to see bullish positions in the crypto section of the market. And it’s no surprise to see that the crypto-exchange market, like all markets, is a market of supply and demand. And, as always, the market is moving and responding to changes in supply and demand in a follow the path.
DOGE is up ~20% in the last week, which is a massive increase from its price on January 1st. DOGE rose from $0.0011 on January 1st to $0.0016 in the last week – a ~25% rise. DOGE’s price will no doubt continue to rise in the coming weeks, so investors will be keeping an eye on the price.. Read more about dogecoin dropping fast and let us know what you think.
Although the cryptocurrency market had a positive week, DOGE, ADA, and VET may see losses as the weekend approaches.
The cryptocurrency market had a good week, with Bitcoin breaking over the $29k barrier to hit $32k. Ether fared nicely as well, surpassing the $2k barrier after falling below $1,700 in recent days.
Dogecoin is the biggest winner this week of the three cryptocurrencies we’ll look at in this post, with a price increase of almost 6%. Cardano and VeChain have gained less than 1% in the last week. However, as we approach the weekend, cryptocurrencies are beginning to look gloomy, as the current market surge has slowed.
Price forecast for ADA
ADA, the fifth-largest cryptocurrency by market capitalization, has had a rough week. Despite the price increasing by 0.45 percent in the last 24 hours, the ADA/USD 4-hour chart is now negative.
4-hour chart of the ADA/USD currency pair. Coinalyze is the source of this information.
If the market rallies, ADA may break over the $1.212 barrier level this weekend. An prolonged rise may bring $1.281 into view as the first significant resistance mark. ADA, on the other hand, risks losing the $1.14 support level if the market continues to fall. Unless there is a major sell-off from the wider market, the support level around $1.03 should restrict any loss.
DOGE Price Predictions
DOGE has been the greatest gainer this week, with a price increase of nearly 6% in the last week. The DOGE/USD pair may surpass the $0.20 barrier and move towards the first major resistance point at $0.30 if positive momentum is maintained throughout the weekend. DOGE may be able to break over the $0.35 level in the case of a sustained market surge.
4-hour chart of the DOGE/USD currency pair. Coinalyze is the source of this information.
However, it is now down about 1%, and if the negative trend continues, DOGE may lose its $0.18 support. DOGE may fall to its weekly low of $0.1599 if the market continues to sell off. Unless the negative mood in the market becomes greater, it should be able to defend the $0.16 support area.
Price forecasts for VET
Despite the rise in the wider cryptocurrency market, VeChain did not do well this week. The 4-hour chart of the VET/USD pair is presently negative, suggesting that the cryptocurrency may lose further ground over the weekend.
4-hour chart of the VET/USD currency pair. Coinalyze is the source of this information.
Unless there is a market rebound, VET may tumble below $0.60 in the next hours. Unless there is a prolonged sell-off, the cryptocurrency should be able to defend the $0.57 support level.
If VET manages to turn things around, the first significant resistance level at $0.072 will become visible. Unless there is a prolonged market rise, the resistance level above $0.078 should restrict any gains.
The chart above shows the price movements of each of the top 10 digital assets over the past week. The chart shows a clear bull run, with DOGE taking the lead. It looks like the digital currency could gain the most from the positive sentiment, since it is the largest cryptocurrency, and also has a strong community behind it. Meanwhile, ADA, VET and PINK are lagging behind the rest of the pack, but they could gain as prices move to the upside.. Read more about will dogecoin explode and let us know what you think.
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