Crypto market performance report for the week ending Feb 27

The crypto market weekly report is once again here to summarize the events and cryptocurrency prices for major tokens that include Bitcoin, Ravendex, Ethereum, SAND, LUNA, SOL, XRP, and more coins. Moreover, this week’s performance was heavily dominated by the Russia-Ukraine conflict, which TheCoinRise covered in a recent article.

The week was full of high volatility, and investors saw bulls as well as bearish in the market. It is also important to note that the top two cryptocurrencies in the market remain Bitcoin and Ethereum, with dominance rates of 41.7% and 18.6%, respectively. There are about 17,829 cryptocurrencies listed on CoinMarketCap, with more coins being added each day.

Crypto market performance report

In this crypto market weekly performance review, we will take a look at the price trajectories for the top tokens in the market. Have a look below: 

Ravendex (RAVE)

Ravendex began the week on a bullish note, as per RAVE analysis for Feb 21, and went on to drop by a whopping 22% on the very next day. However, the token jumped another 20% as per RAVE analysis for Feb 23 and found resistance at $0.004, witnessed in our Ravendex price analysis for Feb 24. TheCoinRise reported in RAVE price analysis for Feb 25 that $0.004 remains a strong resistance.

Source: TradingView

Bitcoin (BTC)

Bitcoin began the week on a bearish note when prices were below $38K, witnessed in our BTC analysis for Feb 21. Furthermore, BTC also lost the $37.4K price support and went as low as $34K. The bulls were back in action as Bitcoin jumped 4% the very next day, finding resistance at $40K.

In our Bitcoin analysis for Feb 24, we saw BTC break below $37.5K support while the BTC analysis for Feb 25 confirmed that $40K remains a strong resistance point.

Source: TradingView

Ethereum (ETH)

Ethereum investors saw ETH dip below $2.8K at the beginning of the week, and in our ETH price analysis for Feb 22, we saw Ethereum drop to $2.5K support. The token turned bullish as ETH once again reclaimed $2.7K, noted in our ETH analysis for Feb 23.

The Ethereum token once again retested $2.5K after the buyers took profit in the market. This level held as support, and as a result, the token once again turned bullish, as seen in our ETH price analysis for Feb 25.

Source: TradingView

Solana (SOL)

Solana price analysis for Feb 21 shows that the token entered the week by testing the support of $94, but SOL dropped to $80 on the very next day. However, the bulls once again took advantage of the prices, and SOL made a move towards $94. 

As seen in our Solana price analysis for Feb 24, the token failed to push into the $100 price level, and as seen in our SOL analysis for Feb 25, $90-$100 remains a strong resistance for the token.  

Source: TradingView

Ripple (XRP)

Ripple failed to reclaim the $0.8 price level, as seen in XRP analysis for Feb 21. As a result, the XRP token fell below the $0.7 support zone. Moreover, the bulls made an attempt towards $0.75, as seen in the XRP price analysis for Feb 23.

On the other hand, Ripple fell nearly 8% in 24 hours, covered in our XRP price analysis for Feb 24. The Ripple token surged more than 7% and once again attempted to cover $0.7, as seen in our XRP price analysis for Feb 25.  

Source: TradingView

Polkadot (DOT)

Polkadot entered the week at a rank of 13 in the crypto market, as noted in our DOT price analysis for Feb 21. The $16 price level was holding as support, witnessed in DOT price analysis for Feb 22. From this support, the DOT token made an attempt towards $20.

Unable to break above $20, the token once again fell to $15, as noted in our DOT price analysis for Feb 24. However, bulls once again took control of price action, as covered in our DOT price analysis for Feb 25.  

Source: TradingView

Terra (LUNA)

LUNA opened the week above the $50 price support, as noted in our LUNA price analysis for Feb 21. The token fell below this important support, as noted in our Terra analysis for Feb 22. However, the token turned bullish and reached the $60 price level, noted in our analysis for Feb 23. 

$60 was an important resistance, and LUNA failed to break above it, turning bearish, noted in our LUNA analysis for Feb 24. However, the token outperformed many tokens in the crypto market by shooting above $60 and entering $70, noted in our LUNA analysis for Feb 25.

Source: TradingView

The Sandbox (SAND)

SAND price analysis for Feb 21 opened the week above $3, and for SAND analysis for Feb 22, we saw the metaverse token fell below $3. However, the token suddenly turned bullish as SAND reclaimed $3.5, noted in our SAND analysis for Feb 23. 

On the other hand, The Sandbox fell below $3, noted in our analysis for Feb 24. The token hasn’t been performing as well as other altcoins as SAND price analysis for Feb 25 shows.

Source: TradingView

Shiba Inu (SAND)

Shiba Inu (SHIB) entered the week on a bullish note, trying to reclaim the $0.000030 price level noted in our SHIB analysis for Feb 21. Moreover, the token dropped 12% as it was unable to push through $0.00003, noted in our analysis for Feb 22. 

However, the token once again gained strength and shot up by nearly 7%, covered in our SHIB price analysis for Feb 23. As bears remained in control, Shiba Inu dropped to the 15th position in the crypto market. Furthermore, the token rebounded from the $0.000020 price level, noted in our SHIB price analysis for Feb 25. 

Source: TradingView

Dogecoin (DOGE)

Dogecoin price analysis for Feb 21 shows that the token opened the week struggling to turn $0.14 into support. Moreover, the Dogecoin price analysis for Feb 22 showed that the token failed to do so and fell to the $0.12 support. 

The 0.14 price level turned into a resistance level for the token, as noted in our Dogecoin price analysis for Feb 23. Unable to push through $0.14, the token dropped 15% in just 24 hours, noted in our DOGE analysis for Feb 24. The bulls were successful in reclaiming the lost support of $0.12, as noted in TheCoinRise’s Dogecoin price analysis for Feb 25. 

Source: TradingView

Conclusion

The crypto market weekly performance report can be ended on a bearish note for the week as the majority of tokens remained stuck in their downtrend. Out of all the tokens, LUNA had performed the best.