Crypto market performance report for the week ending April 10

Once again, TheCoinRise is back with another crypto market weekly roundup, with this week being bearish as compared to the last one. We have confirmed that a lot of volatility was seen this week as a number of tokens lost their support levels and found new ones.

Furthermore, when it comes to the price trajectories of major tokens, most of them have been bearish and more than halfway low to their all-time high. On the other hand, the previous bullish trajectory followed by cryptocurrencies as per our crypto market weekly roundup for the week ending April 3 has slowed down.

The data from CoinMarketCap shows that the market cap of the entire crypto market is currently at $2.03 trillion as the market has finally reclaimed the $2 trillion market cap. It is also important to note that the number of cryptocurrencies listed on CoinMarketCap is above 18,700.

In our crypto market weekly report for this week, we will discuss the following tokens: RAVE, BTC, ETH, SOL, XRP, DOT, LUNA, SAND, DOGE, and SHIB.

Crypto market performance report

In this crypto market weekly performance review, we will discuss the trajectory followed by each of the tokens mentioned above: 

Ravendex (RAVE)

Ravendex token began the week by turning the $0.004 price region into a price action support while it continued to hold above this position as per our RAVE analysis for April 5. However, a surge in bearish pressure caused RAVE to drop below $0.004 as the token went down to the nearest support of $0.0036. However, the RAVE token is now holding support at 0.0035.

Bitcoin (BTC)

Bitcoin began the week on a bearish note as indicators turned slightly bearish. Furthermore, the BTC analysis for April 5 showed that the token aimed to breach $47K. The biggest token in the crypto market failed to break $47K, and we noted that BTC was in danger of losing $43K as support. As per BTC analysis for April 8, 2022, the token is holding support at $43K for now.

Ethereum (ETH)

Ethereum began the week on a bullish note as ETH bulls targeted $4K price resistance. The world’s 2nd biggest token claimed $3.5K and failed to move above this region, as per our ETH analysis for April 6. On the other hand, the ETH token retested the $3K price region as the bulls geared up to break into the $3.3K price region.

Solana (SOL)

Solana aimed to breach the $150 price region as the week started but failed to do so, and the SOL token tested the $126 price region. On the other hand, SOL held $120 as support which was broken in our SOL price analysis for April 7. Furthermore, the token turned bullish after testing the $112 price region, as per our SOL analysis for April 8.

Ripple (XRP)

Ripple began the week on a bearish note, losing the 8th position in the market. Furthermore, the token remained sluggish, dropping to the 9th position the very next day. However, the $0.8 region was held as support, and the XRP token lost $0.8 as support on April 7. The prices remain sluggish as per our Ripple price analysis for April 8.

Polkadot (DOT)

Polkadot began the week above $22, and we noted that $23 was strong resistance, as per DOT analysis for April 5. The very next daily candle saw DOT fall below $22 while Polkadot bulls aimed to turn $20 into major support. DOT analysis for April 8 noted that $20 is major price support. 

Terra (LUNA)

LUNA started this week making new ATH at $117 as the token went as low as $110 price support. The token once again made new ATH after breaching $118. Failing to find any support, the LUNA token went retested to $100, and finally, as per LUNA analysis for April 8, LUNA dipped below $100. 

The Sandbox (SAND)

SAND started the week by holding $3.5 as support, while the SAND price analysis for April 5 noted that bulls lost their charm. The metaverse token pulled back to the $3.2 price level, while as per our SAND analysis for April 7, the bulls tried to hold above $3. The metaverse token once again made a move towards $3.2 as per SAND analysis for April 8.

Shiba Inu (SHIB)

Shiba Inu aimed to breach $0.00003 as the week began as the meme coin faced important resistance at $0.000026. SHIB analysis for April 6 noted back and forth movement as the token dropped to the lower support of $0.000024. The bulls were alive again in our SHIB analysis for April 8. On the whole, SHIB retained 15th position in the crypto market.

Dogecoin (DOGE)

Dogecoin began the week by jumping 2%, and we noted that the meme coin pushed above the $0.15 resistance. Another 6% surge pushed Dogecoin above $0.16. In our DOGE analysis for April 7, we noted a 17% price crash. Dogecoin momentarily dropped below $0.14 and was back above $0.15 with a 3% price surge.

Conclusion

The crypto market weekly roundup ends on a bearish note for the majority of tokens this week as investors can expect lower prices in the coming weeks if the market doesn’t break this downtrend.