A Modest Week For Bitcoin, But A Good One For Ethereum And Altcoins

Free stock photo of achievement, background, bank

Image Source: Pexels

This Week’s Summary

  • The cryptocurrency market is looking to end the week at a total market capitalization of $2,192 trillion.
  • Bitcoin (BITCOMP) is up by almost 14% since last Sunday.
  • Ethereum (ETH-X) sets a new ATH (all-time-high) after a 30% increase in value.
  • XRP (XRP-X) gets a roughly 50% value boost in the past seven days.
  • Binance Coin (BNB-X) increased by more than 21% throughout the week.
  • The DeFi sector added more than $12 billion to the total value protocols (TVL).

Crypto Trends for the Week of April 26, 2021: Performance & Analysis

The cryptocurrency market is ending a week of recovery after one of its worst periods in 2021 so far. While there were critical gains across the board, Bitcoin didn’t surge as much as expected. As a result, the star crypto sees its market dominance below 49%, which is the lowest in the past 33 months. The market capitalization increased by more than 300 billion dollars over the week. Now, it stands at around $2,192 trillion.

A week after dropping from $64,000 to as low as $49,000, Bitcoin managed to regain most of its losses. Following a 13.36% increase, Bitcoin has been recently trading at around $56,300. Unfortunately, it is not enough to restore optimism among investors.

As of the time of writing, Bitcoin is behind most of the top-10 cryptocurrencies in terms of weekly gains. The $60,000 resistance level seems out of reach. So, the nearest support at $52,000 is a more comfortable safety net for the days to come.

Ethereum stole the spotlight this week with a remarkable 30% increase in value. Again, the second crypto in command set a new ATH (all-time-high) at $2,955 and only a few inches away from the psychological resistance at $3,000. Ethereum has recently been trading at around $2,900. If the bulls don’t manage to push it past the $3,000 threshold, Ethereum can fall on the nearest support cushion at $2,600.

1 2
View single page >> |

Disclaimer: All content provided herein our article, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.