Crypto market weekly report for the week ending July 2

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

The crypto market weekly report is once again back to give you an insight into the biggest cryptocurrencies in the crypto space and the price action that these tokens have followed in the past few days. Interestingly, this was another bearish week for the crypto market with some signs of bullish movement but due to low volume, the market has once again crashed. The whales seem to have suffered huge losses and compared to our previous crypto weekly report, and the situation has worsened. 

The data from CoinMarketCap shows that the market cap of the entire crypto market is currently at $870 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 20,000 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 (BTC)

Bitcoin, the biggest cryptocurrency in the crypto market, opened the week above $20K and aimed to breach the $22K price level. The BTC token was unable to push above the $22K price region as it was an area of strong resistance. Failing to break $22K, BTC was back to retest the $20K price level which was successfully retained. However, sellers took charge and BTC was back to the $19K price level.

Bitcoin price analysis
Source: TradingView

Ethereum (ETH)

Ethereum began the week above $1200 and tried to turn this into a region of support. Investors aimed to reclaim $1500 as prices jumped by over 2%. The Ether token failed to hold $1200 and then the 2nd biggest token in the crypto market dropped to the $1000 price level. The price action currently holds above $1000

Ethereum price analysis
Source: TradingView

Solana (SOL)

Solana began the week by reclaiming $40 resistance and the bulls tried to retain and turn it into support. The bulls aimed for the $50 price level but lost $40 and failed to move higher. The SOL coin dropped 8% the following day and retested the $30 price level. As per SOL analysis for July 1, 2022, the token has formed 6 consecutive bearish candles

Solana price analysis
Source: TradingView

Dogecoin (DOGE)

Dogecoin began the week aiming for $0.07 and was able to break this resistance region the following day. The firm formed 5 consecutive bullish candles but failed to break the $0.08 price level. Failing to break $0.08, DOGE dropped below $0.07 and even the market dominance of the DOGE token dropped below 1%. However, the meme coin was able to able retain the 10th position in the market.

Dogecoin price analysis
Source: TradingView

Shiba Inu (SHIB)

Shiba Inu surged by 12% as the week started and tried to make a move towards $0.000013. The token failed to hold prices above $0.000012 and went on to lose $0.000011 as well. The meme coin lost the 14th position in the market but lost the $0.000009 price level. However, in the following 24 hours, SHIB reclaimed $0.000010

Shiba Inu price analysis
Source: TradingView

 

Conclusion

The crypto market weekly report ends on a bearish note as the chances of the above-described cryptocurrencies making higher highs in the coming days remain low. It seems that investors can expect the market to fall lower as BTC, ETH, and other major tokens turn red. TheCoinRise advises you to take advantage of the lower prices but do not go all-in with your money!

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