The crypto market weekly performance report is back once again to help you gain an insight into the major price movements that were witnessed this week and all the important price movements witnessed by TheCoinRise. Furthermore, we will also cover in great depth the major advancement seen in the price actions by a few of the major coins this week.
Overall, this was another bearish week for the crypto market as prices remained stuck in the downtrend for most of the tokens.
The data from CoinMarketCap shows that the market cap of the entire crypto market is currently at $940 billion as the crypto space remains below the $1 trillion market cap. It is also important to note that the number of cryptocurrencies listed on CoinMarketCap is above 19,900 as more and more projects pour into the crypto space.
In our crypto market weekly report for this week, we will discuss the following tokens: BTC, ETH, SOL, SHIB, and DOGE.
Crypto market performance report
In this crypto market weekly performance review, we will discuss the trajectory followed by each of the tokens mentioned above:
Bitcoin began the week on a bearish note, struggling to retain $20K and lost this price region as per our BTC analysis for June 19. However, the biggest coin in the crypto market reclaimed $20K and bulls caused prices to surge beyond $21K. Unable to keep up, the bears once again pushed prices to $20K and BTC lost $20K as well. However, this was followed by buyers taking over as BTC went on to retest $21K.
The 2nd biggest token in the crypto market began the week by retaining $1000 which was found to be a major support area. Bulls took over and Ether made its way to $1200 resistance but failed to reclaim the $1200 price level. As a consequence, prices dipped below $1100. However, the bulls once again took over and Ether was back above $1100 and finally, breached the $1200 price level.
Solana began the week on a bearish note but the $30 price level was retained as support. The SOL coin surged 11% after retesting $30 and also held prices at the 9th position in the market. The SOL coin went as far as to reclaim $35 and jumped another 7%. As per our SOL analysis for June 24, Solana might climb above $40.
Dogecoin, the biggest meme coin in the crypto market, opened the week on bearish volume as bulls eyed for $0.06 which was a minor resistance for the meme coin. The meme coin finally breached $0.06 after a 6% surge and then encountered resistance at $0.07. Despite the bearish volume, DOGE held support at $0.06 and the price action remained sluggish for the meme coin.
Shiba Inu (SHIB)
Shiba Inu began the week by dropping to the 16th position in the crypto market as trading volume dropped heavily. The meme coin then dropped to the 17th position in the crypto space but surged by 12% the very next day, reclaiming the $0.000010 price level. The indicators turned slightly bearish and prices dropped 4%. However, SHIB was able to claim its 14th position in the market.
The crypto market weekly report ends on a bearish note for this week as well as investors can expect the market to remain bearish in the near future. There are several reasons why the scenario doesn’t seem to change in the near future.