Vikram Pandit, the former CEO of Citigroup Inc. and co-founder of Orogen Group, has declared that banks and traditional financial institutions will soon start thinking of offering cryptocurrencies.
Open-source web browser Brave Software has announced a new partnership with the Solana blockchain project. At the ongoing Breakpoint Conference in Lisbon, Brendan Eich, CEO and co-founder of Brave, announced that the company will integrate the Solana network into the Brave browser.
Above are some of the news stories that made the rounds earlier today. It’s been a win upon win for the crypto industry since the start of the bullish run. Last week was fairly bullish on the entire market but the altcoins were in the spotlight.
The market closed the last seven days at $2.87 trillion after starting at $2.6 trillion. This new week opens up a different pattern for the market as we notice the alts are having a cooldown and the largest coin by market cap is taking the lead. Here are the top cryptocurrencies to watch this week:
Last week did not go as planned for the leading cryptocurrency as it failed to impress as it closed the week at $63,300. The coin increased by only 3% over the last seven days – not as much as the previous expectations of a new ATH.
One notable thing this week is the high. Compared to last week’s high, we see a gradual improvement in price. Bitcoin did not dip below $60k over the last seven days – making it one support to be reckoned with.
The $69,000 resistance has become a long term mark as BTC is unable to surge above it for more than two weeks now. The top coin flipped $67k and is trading above the mark at the time of writing – making it a support.
We also noted that bitcoin had the biggest surge at the start of the week, just like we are seeing now. The bulls are aiming for a breakout above $70,000 and may rally the coin to a new all-time high.
On the other hand, the bears will look to capitalize on the market and bring prices crashing as low as $61,000 as we notice an extension of the weekly low by $1,000 for the past seven days. Will BTC defy the odds and surge a new ATH this week?
Ether regains composure at $4,150, surging to a new ATH afterwards. The coin enjoyed hikes that sent it soaring above the $4,500 and going as high as $4,643 on the third day of the month. The price hike was traced back to the deficit in ethereum supply over the last 24 hours as there was a deficit of more than 900 as a total of 15,539 got burned during that time.
The largest alt by market cap went up by more than 7% in the past week – peaking at $4,670 (ATH). Ether traders are kicking off the new week in high spirits as there has been a 30% increase in the coin’s trading volume.
The increase in trading volume is also reflected in prices as ETH hits a new ATH $4,796. In the next seven days, we may see the second-largest coin in the world gradually pick up momentum and race past $5,000.
It is also important to note that ether closed the last seven at $4,617 – sealing the sixth consecutive week of gains. The last time the largest altcoin progressed in price for up to six weeks, the seventh saw a new ATH but was marked by an aggressive selloff.
The exchange token has gone up by more than 23%over the past week. With the recent surge in the crypto market, the third most valued coin is not left out as it hit a high that it hasn’t attained in over five months. The coin surged as high as $686 during that time and saw a low of $502.
Binance coin opened the new week at $649 and is currently trading below the mark. The $680 mark is a tough level that BNB will have to flip to get a shot at further price levels. The next seven days will see the third largest cryptocurrency by market cap retest the $700 resistance.
On the other hand, the sellers will look to pull the exchange token as low as testing the $500 support. The support have held through the past seven days and may continue to hold this week.
Solana surged to a new ATH last week as it cruised to $260 during that time. The coin enjoyed a 23% increase over the past seven days. This increase was responsible for the ascension of the token to the fourth spot on the market cap ranking.
Unfortunately, the fourth largest coin is not off to a good start as it is currently enjoying relative stability at $247. Buyers will aim to send the SOL/USD pair trading above $260 and possibly getting a new ATH this week.
The left-wing traders may start a sellers’ congestion that may pull solana prices as low $200. To achieve this, the pair must flip the $230 support and may get a shot at $200 afterwards.
However, it is important to note that the market fundamentals are tilting more towards the bullish side as the opening comments contained a vital announcement that may impact prices positively.
Closing the past week at a 16% increase and starting a new the same bullish trend, AUDIO is off to a good start. Audius peaked at $2.9 and saw a low of $2.1. Price action over the last seven days suggests that we should expect another volatility-filled week.
The AUDIO/USD pair has stayed off the $2 mark since ascension three weeks ago. We may expect the continuation of this trend in the next seven days. The pair will aim to test the $3 resistance and may succeed given the current momentum of the market.
A reverse of the prevailent pattern of movement in price may result in the coin dipping as low as $2.5. A flipping of the $2.5 support may result in audius retesting $2.2 before rebound.
“The alt-season is over,” many will conclude, as the alt-market has been at a standstill since BTC resumed its uptrend. The king coin will may surge through the week or hover a certain price level. At this time, the altcoin will pick momentum