Crypto market performance report for the week ending March 13

The crypto market weekly performance report is back again without analysis for this week for the major cryptocurrencies in the market. This week has been quite unstable for the crypto space and what we can conclude is that the entire market has seen a number of tokens struggle to breach their constant support levels. Following the Russia-Ukraine conflict, the crypto market has been struggling to turn bullish amidst the fears of hyperinflation and world war.

The data from CoinMarketCap shows that the market cap of the entire crypto market has is currently at $1.75 trillion which is nearly half of what it was in November 2021, when the entire market breached the $3 trillion market cap.

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, let us have a look at the major cryptocurrencies in the market: 

Ravendex (RAVE)

The Ravendex price analysis for March 7 showed that the token opened the week on a slightly bullish note but the selling pressure continued to dominate as noted in RAVE analysis for March 8. Moreover, the token continued to remain sluggish finding resistance at $0.004.

At the last, the bulls took over in our RAVE analysis for March 10 and RAVE reclaimed $0.004. But, this level failed to turn into support as noted in our RAVE analysis for March 11.

Source: TradingView

Bitcoin (BTC)

Bitcoin price analysis for March 7 showed that the token was unable to push above $39K and retested the $37.5K price support. Moreover, the token formed a second bullish candle in our BTC analysis for March 9, and finally, the world’s biggest cryptocurrency in the crypto market broke above the $40K price level.

However, Bitcoin found another resistance at $42.5K which failed to act as support and BTC fell back to $39K, noted in our Bitcoin price analysis for March 11.

Source: TradingView

Ethereum (ETH)

Ethereum price analysis for March 7 confirmed that the token opened the week on a bearish note as prices remained below the $2,600 price level. The ETH token successfully retested the $2.5K price level and moved towards $2.7K.

Moreover, the 2nd-biggest token in the crypto market failed to move past $2.8K price resistance, and as a result, the ETH once again fell below the $2.6K support.

Source: TradingView

Solana (SOL)

Solana price analysis for March 7 confirmed that the token opened the week on a bearish note as the token presented more buying opportunities finding major support at $80. It is also important to note that SOL fell to the 9th position in the market.

The bulls did try to move upwards and convert $85 into support. But, as noted in our SOL price analysis for March 11, the SOL token once again dropped to $80.

Source: TradingView

Ripple (XRP)

Ripple also began the price action on a bearish note for the week and the chances of Ripple losing the $0.7 price support were high. Moreover, the token tried to move past the $0.73 price level, as per our XRP analysis for March 9.

Failing to retain $0.73 as support, XRP once again fell to $0.7, and following this bearish drop, the token fell to the 7th position in the crypto space, as noted in our XRP analysis for March 11.

Source: TradingView

Terra (LUNA)

Terra price analysis for March 7, 2022, showed that the token opened the weekly candle with a 10% drop and rebounded swiftly from $75 price support. The token aimed for $90 with the next resistance at $95, as noted in our LUNA analysis for March 9.

However, a bullish outburst turned LUNA into one of the best investments in the crypto market. Terra shot up more than 20% in 24 hours and finally, LUNA made a new all-time high at $104.

Source: TradingView

Polkadot (DOT)

Polkadot price analysis for March 7 showed that the DOT token opened the week on a bearish note and as a result, DOT fell to the 12th position in the crypto market. As noted by TheCoinRise, the DOT token fell by more than 10% in just 7 days and found an important resistance at $18, as per our DOT analysis for March 9.

The Polkadot price action was having a very hard time breaking above $18 as per DOT analysis for March 10. We also noted that the $16 price level is an important support for Polkadot price action.

Source: TradingView

The Sandbox (SAND)

SAND price action opened the week on a bearish note as The Sandbox remained below $3. Furthermore, the price of the metaverse token did shoot up but did not break above $3, as per SAND analysis for March 8. The SAND analysis for March 9 showed us that the trading volume of SAND crashed.

Moreover, the SAND token turned sideways as the $3 price resistance remained a strong resistance. The nearest support for SAND was $2.8 which failed as support and as TheCoinRise reported in our SAND analysis for March 11.

Source: TradingView

Shiba Inu (SHIB)

Shiba Inu lost the 14th position in the crypto market as the week started on a bearish note. Moreover, the token fell as low as $0.000022, noted in our SHIB price analysis for March 8. In just 7 days, the SHIB token dropped 10% as noted in the SHIB price analysis for March 9.

On the other hand, TheCoinRise noted in our SHIB price analysis for March 10, that $0.000023 remained as a strong resistance for the token. At last, the week ended confirming that Shiba Inu’s future price trajectory might remain bearish.

Source: TradingView

Dogecoin (DOGE)

Like most of the cryptocurrencies in the crypto market, Dogecoin fell below the $0.12 support as the week started. The token neared $0.10 price support, as per our DOGE price analysis for March 8. The meme coin continued to be overrun by the bears as DOGE investors started worrying about their investments.

The Dogecoin token was around 11% down this month and DOGE price analysis for March 11 showed confirmed that $0.12 had turned into resistance.

Source: TradingView

Conclusion

The crypto market weekly performance report for this week confirms that the week opened on a bearish note with a few green days in between. However, the week finally ended on a bearish note.