The crypto industry has added over $350 billion to its valuation this week. It resulted in the market increasing to $3.25 trillion with an intraday trading volume of $208.55 billion, a change of +72.97%. With this, the Bitcoin price has successfully reclaimed the $103,000 mark and has a valuation of $2.04 trillion.
Following in the footsteps, the top altcoins such as Ethereum and XRP recorded a similar price action by breaking out of their important resistance levels. While XRP price adds approximately 5% to its valuation, Ethereum price records a double-digit surge within hours.
Are you one of many who are planning on investing in these cryptocurrencies but are confused about its price prospects? Scroll down as, in this article, we have uncovered the possible weekly price prediction of the top 3 cryptocurrencies by market cap.
$3 Billion in Bitcoin, Ethereum Options to Expire Today
As per the latest data, around $2.65 billion in Bitcoin options are set to expire today. This expiration includes 25,925 contracts, however, this is slightly lesser than last week’s total of 26,949 contracts.
On the other hand, Ethereum is set to witness 164,591 contracts, slightly lower than last week’s 184,296. With a total value of $364.06 million, the maximum pain point for these contracts is $1,850, a put-to-call ratio of 1.43.
Bitcoin Price Hits $104,000 Mark, Retests March High
The BTC price added 6.84% to its valuation over the past seven days, resulting in it reclaiming the $104K mark. Moreover, with a market capitalization of $2.05 trillion, its market dominance has increased to 62.98% today.
The Relative Strength Index (RSI) surpasses the overbought range in the Bitcoin price chart. Moreover, the SMA indicator acts as a strong support in the 1D time frame, hinting that the largest crypto token may continue gaining momentum next week.
Maintaining the value above its $102,000 mark could set the stage for Bitcoin price to head toward its $105,000 level. Sustained bullish action could push the price toward its $108,000. Conversely, an increase in the bearish action may pull the price toward its low of $98,000.
Ethereum Price Forms Higher Lows, ETH To Hit $2,500 Next?
With the Pectra upgrade, the ETH coin price has regained momentum by adding 25.38% to its valuation over the past seven days. This has resulted in it surpassing the $2,300 mark and retesting its March high. Moreover, with a market cap of $280.07 billion, it has a market dominance of 8.61%.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram since mid-April with its averages recording a similar trend. Furthermore, the 50-day EMA witnesses a positive crossover with its 200-day hovering around the $2,400 mark.
A sustained bullish action could push the price of Ethereum token toward its $2,750 mark. However, if the bears outrun the bulls, the largest altcoin could plunge toward its low of $2,100 in the upcoming time.
Will XRP Price Break Through $2.5 This Week?
With the SEC confirmation, the Ripple price adds just under 5% today. Moreover, with a market cap of $137.76 billion, this project is the 4th most-valued crypto asset in the market.
The Simple Moving Average (SMA) records a positive action in the daily time frame. Furthermore, the MACD indicator displays a similar trend by experiencing a rising green histogram. Moreover, the 12 & 26-day EMA experience a positive convergence, suggesting a positive outlook.
If the bulls outrun the bears, the XRP coin price could retest its important resistance level of $2.50. On the other hand, an intensified bearish action may result in it dropping toward its low of $2.00 in the upcoming time.
Also Read: Bitcoin Price Hits $104K as New Wallet Addresses Flood the Market
