Weekly Updates: Total Cryptocurrency Market Cap Up By 5% In The Last Seven Days.

Crypto Market Weekly Update

The last seven days have been filled with a lot of price movements. Most crypto is about closing the week in profit after a bumpy ride through the week. The total cryptocurrency market cap is up by 5% as of the time of writing after the last seven days. Many coins contributed to the gains as they all fought through the fairly dull week. The market took a plunge to $1.95 trillion in the early parts of the duration under consideration – sealing its low for the week and high of $2.20 trillion.

Top Performing Coin

The top-performing coin in the top 100 during this time is Avalanche. The coin is currently trading above $70 after hitting a new all-time high at $76 during the last 24 hours. The milestone set $AVAX at gains of more than 40% in the last seven days. At the start of the week, AVAX dipped below $50 but it hit a rebound at $46 as the buyers rallied the coin from that price mark resulting in Avalanche flipping much resistance over the past seven days.

Bitcoin is up by 6.8% during the time under consideration. A previous analysis earlier this month warned that we may see bitcoin dip as low as $43,000. If the bulls don’t support the $43k mark, BTC may be on a free fall as there are no visible supports until $37,000. The market sentiments at the time were a little bullish and suggest a rally soon.

The analysis concluded by stating that we may see the largest crypto surge as high as $47,000 and higher. As was predicted, BTC dipped as low as $44,000 but finds support at $43,400. We saw a surge above $47,000 afterwards.

Market fundamental is fairly bullish as the week was filled with news spanning blockchain development and the legalization of some cryptos in countries. Now, the crypto market is at a standstill with many coins trading within a price region with no breakout. We may see more price hikes as the week come to an end.

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Market Analysis
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