After a disastrous week for bullish expectations, the market is trying to stabilize and we share with you our forecasts for the coming days.
This week has been unpredictable with the great correction that the entire blockchain market has suffered.
BTC, ETH, BNB, MATIC, and all the cryptos in the market are bleeding like they haven’t been seen for weeks. Today a “forensic” analysis of what happened is being carried out and we give our price expectations from now on which, although surprising, are still optimistic about a market recovery soon.
Weekly Crypto Market Price Prediction
That being said, we have a market in the red after practically a month of renewing green pastures and some charts in which the bulls had everything in their favor. Now things have changed, or hasn’t it been?
The setback in BTC is a huge setback. Despite the fact that at a technical level there were some signs of weakness in the recovery, especially due to the constant failed attempts to exceed the €24,000 barrier and the inability to stay above it when we reached €25,000, two clear signs that the price was unstable. However, at a fundamental level, there were also reasons for optimism.
We are now in a bearish scenario as we broke hard below the MA20 which had been our support for weeks. Right now the most logical thing is to expect a drop to the psychological level of €20,000, and if it breaks, we have to expect the worst and we could see BTC at this year’s lows of around €17,000.
Biggest Price Ups and Downs of the Week
This week we have many losers, and practically all cryptocurrencies are in the red, which is quite worrying. However, we give a summary of the percentages of losses and increases of the last month in the Blockchain ecosystem.
Cryptos in the Green
As we said above, do not expect spectacular numbers in this section, in fact, we did not even reach the three cryptos that we mention each week, because of the top 100, only 2 cryptocurrencies have managed to come out in the green in the last 7 days.
EOS (EOS +41%).
Chiliz (CHZ +13%).
Cryptos in the Red
This week we have spectacular numbers in terms of losses, in fact, we could make a top 10, but in order not to depress them, we limit ourselves to mentioning the 3 cryptos with the greatest losses this disastrous week for the market.
Celcius (CEL -40%).
STEPN (GMT -26%).
Filecoin (FIL -25%).
By Audy Castaneda
