Crypto market performance report for the week ending March 27

The crypto market weekly performance report is back once again to give you an insight into the crypto world which is always full of surprises and volatility. This week was bullish where nearly all the major tokens rose in double digits. TheCoinRise noted that the adoption of cryptocurrencies is on the rise with many firms showing up to accept crypto as payment or include them on their charter.  

The data from CoinMarketCap shows that the market cap of the entire crypto market is currently at $1.99 trillion and the market had finally reclaimed the $2 trillion market cap briefly. It is also important to note that the number of cryptocurrencies listed on CoinMarketCap is reaching 18,500.

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 below: 

Ravendex (RAVE)

The RAVE token began this week on a slightly bearish note as it was stuck near $0.0045. Ravendex price analysis for March 22 showed that the token made an attempt to breach reach $0.005 as prices remained stagnant below this price zone. Furthermore, Ravendex finally broke above the $0.005 price level but failed to retain as noted in our RAVE analysis for March 25.

Source: TradingView

Bitcoin (BTC)

Bitcoin began the week on a bearish note losing the $40K price support. However, bulls reappeared as BTC pushed its way back above $40K. However, the biggest token in the crypto market, Bitcoin, was stuck below $42K. The token made a move to reclaim the $43K price level but failed, as noted in BTC analysis for March 24. However, BTC successfully broke above $44K and now, aims for the $46K price level.

Source: TradingView

Ethereum (ETH)

Ethereum outperformed BTC gaining 5 consecutive daily bullish candles and breaking $3K for a brief moment as noted in our ETH analysis for March 22. However, the bears pushed ETH below $3K as it retested the support at $2.8K. Moreover, Ethereum continued to dominate BTC’s price action, and finally, we noted in our ETH analysis for March 25 that it was back above $3.1K.

Source: TradingView

Solana (SOL)

Solana opened the week at $88, not being able to push above $90. The SOL token did break $90 on our SOL analysis for March 22. It was also noted that Solana formed support around $91 and then, the bulls reappeared as noted in our SOL analysis for March 24. The SOL token was finally able to break above $100 and is now trying to consolidate above this price region.

Source: TradingView

Ripple (XRP)

The Ripple token began the week facing backlash from bears at $0.8 and went on to reclaim the 6th position in the crypto market. The token fell below $0.85 as per XRP analysis for March 23 and as a result, the price action for Ripple turned stagnant. Finally, as noted in our XRP price analysis for March 25, Ripple breached the $40 billion market cap.

Source: TradingView

Polkadot (DOT)

Polkadot remained below $19 as the week started and went on to break this region as per our DOT analysis for March 22. The DOT token finally broke above the $20 billion market cap as prices spike above $21, noted in our DOT analysis for March 24. The token is consolidating prices above $21, trying to turn it into a region of support. 

Source: TradingView

Terra (LUNA)

LUNA began the week on a bullish note as the token made a move towards $95. Bulls noted a strong resistance at $96 and as a result, we noted that LUNA dropped to $93. The token also lost its 6th position in the market. However, the price action for LUNA ends on a bullish note for this week as noted on our LUNA analysis for March 25.  

Source: TradingView

The Sandbox (SAND)

SAND opened the week on a bearish note as it struggled to maintain prices above $3. TheCoinRise also noted that the $3.05 price level was an area of strong support. Moreover, as noted in our SAND analysis for March 23, the bulls held prices above $3.18 as SAND jumped another 7%. In our SAND analysis for March 25, we noted that the indicators remain bullish for the token as higher prices are possible. 

Source: TradingView

Shiba Inu (SHIB)

After shooting up by 7% last week, Shiba Inu opened this week with another 4% surge noted on our SHIB analysis for March 22. One of the most popular meme coins in the crypto market was able to retain its position in the top 15 as the SHIB token moved deeper into the $0.000024 price region. At last, we noted in our SHIB price analysis for March 25 that the token aimed to break the $0.000025 price resistance. 

Source: TradingView

Dogecoin (DOGE)

Dogecoin opened the week below $0.12 but was able to break through this region as per our DOGE analysis for March 22. Furthermore, the token was able to turn bullish in the short term but in the long term, it remains in a downtrend, as per our DOGE price analysis for March 23. 

Finally, the meme coin was back above the $0.13 price region following an 11% price surge. As noted in our Dogecoin price analysis for March 25, Dogecoin aims to turn $0.13 into a support region. 

Source: TradingView

Conclusion

The crypto market weekly report for the week ending on March 27 confirms that the entire crypto market had turned bullish this week with the biggest gains coming from Ethereum Cash, Bitcoin Cash, Loopring, and many more. Stay tuned for the next edition of our weekly report.