The crypto market ended on a bearish note last week as it loses more than 20% in the last seven days. The industry started last week as high as $1.7 billion but closed at $1.4 billion. Most coins started the last week very strong as they surged to recover from the loss incurred in the previous week. Things went south toward the end of the week when most cryptos were started a red candle party as a result of the price decrease.
As of the time of writing, the crypto market is back on the rise as MicroStrategy pump a whopping $489 million into the market a few hours to press time. The MicroStrategy pump will surely tell on the week’s performance. Here the top four cryptocurrencies to watch this week;
BTC
The last seven days was one of the harshest for the king coin. The week opened with the coin at $39,095 and got to a high of $41,341. Crypto largest coin by market saw a low of $33,337 over the last seven days but was a week to recover from the price correction as it closed the week above $35,000. BTC lost 17% last week.
Bitcoin will look to cover the 17% loss and surge. The news of MicroStrategy shopping will surely reduce the FUD in the market and boost traders interest in the coin. How crypto firstborn will perform this is still unclear following the latest death cross and the absence of a CME gap.
It is important to sustain the current market momentum as BTC may retest $41,000 if the price hike continues. A slip up may result in seller congestion that may decrease prices to testing the $30k support. A test of $30,000 may result in prices slipping below this critical support.
ICP
Internet computer broke into the market during a very bloody time in the crypto street. The coin showed its potentials as it broke into the top 10 by market cap ranking a few hours after it became tradable on a major exchange.
The last seven days saw ICP dip as low as $38 and increased as high as $70. Internet computer is currently dropping in price. It flipped the $50 support and is currently about to retest the $40 support. As of the time of writing, the strongest support is $30.
AMP
Amp is currently the 28th coin by market cap. It opened last week at 0.060 and closed at 0.091. The coin gained an intriguing 37%; defying the red candle party that rocked the market.
AMP has finally yielded to the current market sentiment. As of the time of writing, the coin lost 14% in the past few hours. The coin may dip as low as $0.07 if the current market momentum does not change.
WAVES
The currently ranked 50th coin by market cap opened the last seven days at $15 and closed at $17. The coin gained more than 8% over the last seven days.
Waves was a little resistant to the general market sentiment last week. The coin is currently struggling at $15. The bulls need to defend the $15 mark to stop prices from dipping below this critical level.
