In the past five weeks, major currencies have shown a slight fluctuation trend, with the exception of BNB, which is basically in a downward trend.

The crypto market lacks obvious hot information.

This week, the price of Bitcoin has further declined, currently around $41,500, and the prices of other mainstream currencies have also reached a critical price point.

This article will study the performance of major assets, explore the factors that affect their price trends, and conduct corresponding analyses to predict their future short-term price trends.

1. Bitcoin (BTC)

Bitcoin has fallen by about 3.11% this week and is currently closing at around $41,584.

The price has fluctuated relatively little within a week but has instead experienced a more significant decline.

The peak price of Bitcoin within a week is $43,438, while the low point is around $40,303.

This week, the price of Bitcoin has further declined, and the bearish sentiment in the market is quite evident.

Although there has been a large influx of funds into over-the-counter Bitcoin ETFs in the short term, it has not significantly impacted the price of Bitcoin.

Analysis suggests that the price trend of Bitcoin within a week has shown significant weakness in growth for two consecutive weeks after the temporary end of the influence of news factors.

The entire crypto market also lacks FOMO hotspots with high subsequent heat.

This situation is reflected in the market’s fluctuating downward trend of coin prices.

At present, the price of Bitcoin continues to fluctuate within the range of $41,000 – $42,000, and the intraday fluctuations are not significant.

It is highly likely that the coin will continue to fluctuate above $410 million in the future.

Significant fluctuations will require waiting for the trend changes of the crypto market itself or a key action of Bitcoin-related ecosystem projects.

Bitcoin Price Data (Data Courtesy of CoinMarketCap)

2. Ethereum (ETH)

Ethereum price fell 2.24% this week, closing near $2,475, with a slight drop in price for the week.

Compared to Bitcoin, the price of Ethereum has experienced significant intraday fluctuations this week, with a weekly high exceeding $2,600 and a low near $2,425.

Although the coin price trend is in line with the overall trend of the crypto market, Ethereum showed a volatile upward trend last week.

This week also showed an upward trend in the early days.

However, due to the impact of news and market changes, the coin price quickly fell to above $2,400 and continued to fluctuate.

Analysis suggests that the price trend of Ethereum this week is in line with the recent trend of the crypto market cycle.

The market sentiment tends to be cautious, and the failure of Ethereum prices to continue the upward trend of last week is also affected by the overall market.

In addition, the current speculation on Ethereum-related hot topics has not formed market FOMO expectations, so the price of Ethereum has shown obvious weakness in rising.

However, in a week’s time, the fluctuation of the Ethereum coin price is still within the market’s expected range, and the probability of falling below $2,400 is relatively small.

In the next one or two weeks, Ethereum’s price will likely continue to fluctuate within the range of $2,400 – $2,600, with $2,500 being a key resistance level.

Further fluctuations will revolve around this level, and repeated fluctuations will be the norm.

Ethereum Price Data (Data Courtesy of CoinMarketCap)

3. Binance（BNB）

BNB rose 4.16% this week and closed around $319.

This week, the BNB market was affected by the actions of the Binance platform and experienced a significant upward trend at the opening stage.

The subsequent intraday fluctuations were mainly concentrated in the $310 to $320 range.

Within a week, the high point of BNB price was close to $320, while the low point appeared in the opening stage, falling below $300 to near the $299 price range.

Analysis suggests that the price of BNB has maintained a fluctuation of $10 for most of this week.

Due to the significant impact of the Binance platform’s actions on relevant currencies within a week, although the overall price of BNB is mainly characterized by volatility, it has remained within a small price range.

However, from the trend of secondary currencies related to BNB, it can be seen that there is still a lot of room for the expected price of BNB.

It is highly likely to break through the $320 price level in the short term.

The price trend of Binance depends on the dynamics of the Binance platform and the overall trend of the crypto market.

BNB Price Data (Data Courtesy of CoinMarketCap)

4. Solana (SOL)

SOL experienced a rise followed by a fall this week, falling 5.78% within a week and closing near $92.80.

The price of SOL will be greatly affected by the overall market situation this week, coupled with a lack of ecosystem-related hot topics.

However, the SOL ecosystem is currently ranked fourth among all public chains, so there is a high probability that the price of SOL coins will continue to rise in the future.

Within a week, the price of SOL reached a high point of $103 and a low point of $88.

The fluctuation range of the coin price is mostly concentrated in the $90 to $100 range.

Analysis suggests that the weekly trend of SOL is basically consistent with most other mainstream currencies and is greatly affected by the overall volatility of the crypto market.

However, most of the time, the daily volatility has remained within a relatively small range, indicating that the coin has recently entered a relatively stable, volatile market.

When market sentiment tends to be cautious, it is normal for mainstream coin prices to fluctuate slightly.

Since Q4 of 2023, SOL ecosystem-related projects have been operating very frequently.

In addition, the current price of SOL is still far from its historical high, so the coin is bound to usher in a new round of rapid upward cycles in the future.

In the short term, it is more likely that the SOL coin price will continue to fluctuate around $100.

SOL Price Data (Data Courtesy of CoinMarketCap)

5. Ripple (XRP)

XRP fell 7.9% this week and closed near $0.5515.

The price of XRP has shown a downward trend throughout the week.

Under the influence of market sentiment, the crypto market has experienced a general decline.

Due to its own application characteristics, XRP lacks significant intraday fluctuations, and the overall trend is a slight downward trend.

Within a week, the high point of the XRP price appeared at the opening stage of $0.5908, while the low point appeared around $0.5257.

However, the coin mostly remained within the range of $0.55 – 0.58 for most of the time.

Analysis suggests that this week, due to market fluctuations and market sentiment, the price trend of XRP has basically been declining, even falling below the price of $0.53 in the short term.

However, it is currently maintained above $0.55 with slight fluctuations.

Compared to other mainstream currencies, the subsequent price of XRP lacks clear growth signals and is more likely to fluctuate with the overall market fluctuations.

Whether the price of XRP can maintain a slight fluctuation of $0.55 will be a key factor.

In the short term, it is highly likely that the price of the Ruibo coin will continue to operate within the current range.

XRP Price Data (Data Courtesy of CoinMarketCap)