The crypto market was a bit dull in the last seven days as market performance did not impress the buyers. Regardless of the performance last week, most coins are in the green as a new week starts.
The next seven will see more price movement than the previous as the market is recuperating from the various price corrections it suffered. The crypto industry lost more than 10% over the last seven days as its market capitalisation dipped below $1.5 trillion.
The little price improvement we are seeing now gives a positive sign as to how the week will play out. Here are the top four cryptocurrencies to watch during the next seven days.
The King coin experienced a lot of events over the last seven days. One such event is the peak it attained during the time under consideration. Bitcoin got as high as $40,782 and had a low of $33,693 as its dominance remained steady above 43%.
The next seven days performance holds key information as to when BTC will surge above $55,000. We will see BTC retest $40,000 and possibly trade consistently above it.
To sustain a surge to $40k, investors need to pump more funds into the market as BTC, as well as most coins, are experiencing a gradual decrease in their trading volume every day. If more funds don’t go into BTC this week, it will up to the bulls in the market to rally it or risk a further price drop.
Ripple saw and high of $1.07 and a low of $0.75 during the last seven as the coin gained 0.5% during this time according to Coingecko. As of the time of writing, XRP gained more than 10% in the last one hour as it is trading at $0.90.
We will see XRP increase as high as $1.10 in the next seven days. The current price movement hints at an intense struggle between the bears and bulls as the sellers will cause XRP to face rejection at $1. The buyer needs to defend $0.8 to ensure a quick test of the highlighted mark.
Polygon is one coin that passed through the last seven days with more volatility and price-performance than most coins in the top 100. The preceding week saw MATIC gain more than 50% as it records a low of $1.08 and a high of $2.44.
Polygon saw a lot of attention from traders as the market cap surged and it climbed two spots up the market cap ranking and is now the fourteenth largest coin. MATIC saw its trading volume increase while most coins dwindled. If the increase in trading volume persists we may see polygon rise high as $2 and test its all-time high.
The Bakery token enjoys little price surges during the last seven days that saw the coin gain 34% and saw a high of $5.15 and a low of $2.35. BAKE increased by 6% in the last 24 hours but saw its trading volume decrease by 11%.
BAKE experienced strong price retracement as soon as it hit $5.15 and started depreciating till it got to its low in the last seven days. The price hike continued as the coin is now trading above $4. The bakery token may see strong seller congestion that may pull prices as low as $3 but the sustenance of the $4 support will endure a retest of $5.
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