The sum Crypto market capitalization has increased its value by $ 129 billion in the past seven days and is now at $1,948 billion. The Top 10 Coins were mostly green over the same period, with Polkadot (DOT) and Binance Coin (BNB) adding 36 and 32.5 percent to their respective values. Bitcoin (BTC) is for now Trade at $ 57,600, ether (ETH) is $ 2,040.
BTC / USD
Bitcoin has been on its way up since it hit $ 50,372 on March 25. This was the lowest point of the 18 percent correction that had started 12 days earlier.
The largest cryptocurrency hit the 100-day EMA on the 4-hour chart on Sunday and was flatly closed for that day after two consecutive days in green. This resulted in a total weekly loss of 3 percent.
On Monday March 29th, the BTC / USD pair took another step up, taking advantage of the short-term EMAs on the daily timeframe as support. It touched $ 58,400 for the day before closing near $ 57,400 on the previous weekly open and significant horizontal resistance zone.
The move was followed by another solid green candle on Tuesday, and Bitcoin rose to below the all-time high by the last major resistance zone – $ 58,800.
The mid-week session was again positive for buyers as the leading digital asset peaked in the wide range of $ 56,760 to $ 59,850 before closing flat for the day.
The coin restored the medium-term uptrend thanks to the good news from VISA and PayPal when the two companies announced crypto-friendly services. The technical indicators and chart formations, on the other hand, showed weaknesses with a possible double top formation on the 4-hour chart, combined with a downward divergence in the lower 1-hour period.
Bitcoin ended March with a price increase of 29 percent.
On Thursday, the BTC / USD pair remained unchanged near the weekly resistance level of $ 58,800, despite trading above it intraday for a period of time.
The exact same thing happened on Friday when the bulls ran out of gas to support the uptrend.
The April 3-4 weekend started with the 26-day EMA falling in the daily time frame on Saturday. The move resulted in a 3.2 percent decline to the $ 57,000 mark.
On Sunday, BTC was able to rebound from this level but was unable to compensate for losses that ended the week at $ 58,200.
Bear pressures mount in the early hours of trading on Monday April 5th as fears of a correction mount.
ETH / USD
The Ethereum project token ETH was rejected at the 21-day EMA near USD 1,715 on Sunday March 28 and closed at USD 1,691 with a short red candle. Over the seven days, this was a direct 5.2 percent drop, which was directly due to the price drop on the first three days of the week.
On Monday, the leading altcoin began trading, skyrocketing as high as $ 1,819. It topped the previous weekly open level and $ 1,800 psychological level to end the session 7.7 percent higher.
On Tuesday March 30th, the ETH / USD pair drew a second straight green candle on the daily chart and extended its gains to $ 1,844. Here the Aether Bulls faced some really solid horizontal and diagonal resistance from the previous high of March 13th.
The third day of the work week came with a break over this zone. Buyers managed to consolidate around $ 1,780 in the early hours of trading and the price rose to $ 1,920 by the close of trading.
The ETH token rose by 34 percent a month.
On Thursday April 1, the coin posted the highest ever closing price on the daily chart at $ 1,967, above the weekly resistance.
The Friday session was no different and the Aether successfully avoided the double top formation by moving further up the lower timeframe corridor. It rose to a new all-time high of $ 2,134, an increase of 8.4 percent.
The first day of the weekend saw a correction of 6 percent to $ 2,006 as profit taking began.
The price then partially rebounded on Sunday, rising to $ 2,075 at the end of the week.
The bears are back in control on Monday morning. The ether is trading near its previous all-time high recorded in February – $ 2,045.
Top 10 movers
Ethereum’s main competitor increased its rating 37.5 percent in the past seven days and moved up to fourth on CoinGecko’s top 100 list with a market cap of $ 42.8 billion.
The coin moved above the short-term EMAs on the daily chart for the three-day period between March 29 and March 31, then surpassed the previous high of $ 38.2 on April 2, allowing it to move higher. On April 3, DOT hit a high of $ 46.7, making a new all-time high.
Keeping up with the pace of Ethereum was crucial for Polkadot to ensure it stays competitive during the first phase of the parachute auctions.
DOT / USDT bulls need to ensure their preferred pair stays above the USD 40 level in order not to revert to the previous trading range.
Proper consolidation in this zone will serve as the starting point for the next stage up to an area above the USD 50 psychological level.
Altcoin of the week
Our altcoin of the week is WINk (WIN). The gaming platform, which runs on the TRC-20 standard on the TRON blockchain, has added the impressive 526 percent in the past seven days and has moved up to 67th place with a total market cap of $ 1.75 billion.
The WIN / USDT pair is up 3,397 percent since early 2021, thanks to the platform’s various uses of the platform’s native token-WIN, including wagering and in-game social interactions.
At the time of writing, WIN is trading at $ 0.00229 against USDT on Binance.
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