Weekly Bitcoin Price Analysis: Trends and Forecasts
Throughout the past week Bitcoin’s price followed a sideways trend in a range of $440 - $460. During the week, positive macroeconomic indicators from the US were announced, including an increasing of the interest rate to 0.50% for the first time since 2006. As a result, the Dollar was significantly strengthened against all currencies. Recent decisions of the ECB and the Fed have also led to increased demand for the Dollar. However, it had almost no effect on the value of Bitcoins. Bitcoin ended the week with a price of about $458. We asked Tomi Hrovatin, developer of HODL Tools for trading....
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Which resistance levels will be decisive for the weekly LTC/USD, ETH/USD and DASH/USD trends? It’ll be those, where the trends are most likely to change direction. One of the predicted scenarios of Litecoin’s price development has played out during this week. $3.25 was a key resistance level, which was broken through and then held by the sellers, after which the price formed a downward trend. Currently the weekly trend is heading downward. The LTC/USD price is recoiling after a downward trend.
Yesterday's in-depth analysis identified a Bitcoin price channel that forecasts a potential decline low near $200. This low is not a foregone conclusion but remains a potential target as long as price remains below the critical trendline that has provided long-term support and resistance since early 2012. Weekly Bitcoin Price Channel. Here is the weekly BTC-China chart that was presented in yesterday's longer-term analysis: The red dot indicates where price had initially bounced upwards from the critical line of support (red dotted trendline). During last week's sell-off the trendline was....
The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region. Ethereum price in the past few days has struggled to reclaim the $2,000 mark that has become a resistance despite showing strong bullish signs and outperforming Bitcoin (BTC) in this relief rally. The price of ETH ranging has led to many feeling weary if bulls are still in control. Related Reading: Shiba Inu Trends Upwards Through Strong Whale Accumulations Ethereum (ETH) Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of $1,012,....
The price of Origin Protocol (OGN) has struggled to break out of a range recently with few bullish signs against Tether (USDT). Origin Protocol could be set for a major rally after narrowly breaking out above key resistance as other crypto assets continue to trend higher with double-digit gains. Related Reading: Shiba Inu Trends Upwards Through Strong Whale Accumulations Origin Protocol (OGN) Price Analysis On The Weekly Chart From the chart, the price of OGN saw a weekly low of $0.188, which bounced from that area and rallied to a price of $0.24. The price has struggled to build more....
The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot. (Data feeds from Binance) Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Price Analysis Of Polkadot On The Weekly (1W) Chart From the chart, the price of DOT saw a weekly low of around $6.50, where it has formed support. The price has built more momentum as it faces resistance at $10. A break above....