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Investors’ confidence in the cryptocurrency industry has slightly dropped in recent weeks. After dominating the crypto market with amazing profits, even the enthusiasm around Solana meme coins has calmed off a little.
That said, let’s take a look at where things are in the cryptocurrency market currently by diving into a detailed price analysis of some of the major currencies.
Bitcoin (BTC)
One cannot discuss major coins without mentioning Bitcoin. The most significant coin has been going up substantially. As of April 5, 2024, its price had dropped 4.16% in the last week, hitting $67,693. Technical analysis of Bitcoin indicates that market sentiment is neutral to bullish, as we can also see a 6.29% price rise in the last 30 days.
There is a gap between supply and demand that is driving up the price of Bitcoin. Based on Bitcoin’s ability to bounce back to the $67,000 range after the Federal Reserve decided to keep interest rates the same.
Ethereum (ETH)
The price of Ethereum, the second-largest crypto by market value, has been neutral to bullish in the initial week of April, despite a -6.58% drop in the past week. ETH is now trading at $3,306.2.
ETH price is being backed up by exponential moving averages, which is a bullish sign. The stochastic RSI and other indicators point to a neutral signal. So, buyers might see this as a stabilisation time, when the price might stay the same before the market makes dramatic moves.
Ripple (XRP)
With a drop of -1.08% in the last month and a price of 0.5844 USDT, Ripple’s XRP has shown a neutral view in the technical analysis. Even though there have been concerns with regulations, XRP’s price has been strong, pointing to a possible upward trend with bullish signals from moving averages like the Exponential Moving Average (30).
Bitgert (BRISE)
The value of Bitgert has grown 36.44% in the last 6 months and is now worth 0.0000002018 USDT, as of April 5, 2024. Price forecast tools for BRISE have also shown that its value will gradually increase over the next few months, continuing to rise steadily.
Given that BRISE is a relatively new initiative, its activities are still under speculation. The Bitgert project has been striving to improve its ecosystem and features, like 100,000 TPS, which may be one reason why price estimates are looking optimistic.
By creating solutions for decentralised finance, NFTs, and the metaverse, the project hopes to increase the practicality of blockchain technology.
Toncoin(TON):
The price of toncoin has gone up 108% in the past month, to 5.374 USDT. TON’s technical analysis shows a neutral to bullish stance, with the moving averages pointing to a buying signal. The next shift will be driven by external factors.
The rising trend in the moving averages shows buyers are becoming more confident, which suggests that the market is getting ready to go up.
Shiba Inu (SHIB):
The value of a Shiba Inu has dropped by 23.70% in the last 30 days, to 0.00002691 USDT. Even though there was a drop, economic analysis points to a return to the upside, and people are optimistic.
Remember that volatility and meme status can be due to rapid movements based on social trends and investor sentiment, so don’t forget to DYOR before investing in meme coins like SHIB.
Solana (SOL):
Solana’s price is $174.57 as of April 5, 2024, down by -8.35% in the last week, whereas the price has climbed 38.52% in one month. The weekly technical analysis shows a neutral to bullish outlook for SOL.
The total value locked (TVL) of Solana’s network has reached a new high. It is now the highest it has been since January 2023. This isn’t just good; it’s great for SOL tokens, showing that people aren’t just interested—they’re invested.
Conclusion
There’s no doubt that not all digital assets are created equal. While some, like BTC, SOL and TON, continue to exhibit strong bullish momentum, others face more uncertain waters.
However, the case of Bitgert serves as a reminder that even newer projects can hold promise, with positive price predictions hinting at their potential upside.