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Saeed Ul Hassan

Weekly Highlights: Bitcoin & Ethereum Rebound Strongly While Some Altcoins Surges 

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Bitcoin (BTC) experienced a huge price drop after achieving a new ATH, and Ethereum (ETH) also faced a major decline in its value, and both are now recovering from their recent dip. However, the overall market is stable; a few altcoins from the top 50 list made impressive gains and showed outstanding price performance.

Among these altcoins, the standout performer was Toncoin (TON). Internet Computer (ICP) and Fantom (FTM) followed closely behind with impressive growth, securing second and third positions.

Toncoin (TON) made a significant mark with a remarkable 35% surge over the past week and an almost 155% surge over the last 30 days. As of the latest data, TON is trading at $5.38 and has increased 7.80% in price. Despite positive price movement, TON experienced a 35% decrease in trading volume in the last 24 hours.

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Toncoin (TON) 7-Day Chart | Source: CoinMarketcap

Internet Computer (ICP) garnered significant attention, with a weekly increase of more than 33%. Currently, ICP is trading at $16.79, with a 21.81% increase in value. ICP experienced a significant 109.56% increase in trading volume within the last 24 hours.

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Internet Computer (ICP) 7-Day Chart | Source: CoinMarketcap

Fantom (FTM) also made waves with a 30% gain during the past week. Moreover, FTM surged by almost 171% over the last 30 days, showing outstanding price performance. As of the latest data, FTM is currently trading at $1.08, with a 3.23% increase in price and a slight decrease of 0.89% in trading volume in the last 24 hours.

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Fantom (FTM) 7-Day Chart | Source: CoinMarketcap

Moreover, several altcoins made impressive gains, such as Bitcoin Cash (BCH), Dogecoin (DOGE), and Aptos (APT) also reported gains in their weekly charts, with BCH up by 20%, DOGE by 15%, and APT showing a 13% increase, according to data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin (BTC) recently underwent a significant price decline subsequent to reaching an all-time high (ATH) at $73,637. After retracing from this pinnacle to $60,807, Bitcoin found support at this level and has since rebounded. At present, Bitcoin is trading at $67,304, accompanied by a 24-hour trading volume of $61.55 billion and a market capitalization of $1.32 trillion. Over the past 24 hours, BTC has witnessed a 5.07% increase in price.

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Bitcoin (BTC) 7-Day Chart | Source: CoinMarketcap

Market analysis from Santiment indicates a heightened focus among traders on the challenges associated with holding BTC in cold storage, ETFs, and various borrowing options, amidst Bitcoin’s endeavor to recover from its most sustained dip in over 5 months.

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There is a divergence in opinions regarding meme coins, with some enthusiasts still embracing the notions of freedom and the “wild west” ethos they represent, while others express skepticism regarding potential scams within this realm and the broader cryptocurrency market.

Cryptocurrency analyst Ali Martinez has drawn attention to a notable development in the world of Bitcoin. Specifically, there has been a remarkable surge in the trading of dormant $BTC tokens, the likes of which haven’t been witnessed in over two years. This uptick in activity suggests a potential increase in price volatility for Bitcoin in the near future.

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Ethereum (ETH) experienced a significant decline from its recent peak of $4,087 to $3,059, before rebounding to its current price of $3,500.72. Its 24-hour trading volume stands at $13.65 billion, with a market capitalization of $420.34 billion, having witnessed a 5.25% increase in price over the past day.

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Ethereum (ETH) 7-Day Chart | Source: CoinMarketcap

Santiment also highlights the collaborative efforts of Ethereum and Solana communities in response to SEC security allegations, amidst a retracement in ETH price (-18% since March 11th).

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Whale activity has surged, polarizing traders, with attention drawn to the 30-day average returns of ETH wallets, suggesting a justifiable buy stance. Additionally, Ethereum’s RSI has dropped to 28.5, the lowest since the price bottom in late January, indicating potential market conditions favorable for investment.

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Robinhood Makes Big Moves With Android Crypto Wallet

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The financial platform Robinhood is opening up new frontiers for customers around the world to access cryptocurrencies and investment opportunities. In a pair of significant announcements, the company unveiled an Android version of its crypto wallet app and officially rolled out its commission-free trading service to the United Kingdom.

For the crypto world, Robinhood’s expansion to Android operating systems is a major development. Previously only offered for iOS devices, the Robinhood Wallet app allows users to securely hold, send, receive, and swap digital assets like Bitcoin, Ethereum, Dogecoin and more across multiple blockchain networks. With Android’s overwhelming global mobile market share of 70%, this unlocks crypto access for millions of new potential users internationally.

Johann Kerbrat, GM of Robinhood Crypto, said:

Launching Robinhood Wallet on Android is a big step forward in our commitment to make crypto more accessible and seamlessly integrated into daily life for millions of people around the world. Whether you’re in Africa, Asia, South America, or somewhere else, Robinhood Wallet is your gateway to the future of finance, and the world of crypto and web3.

The crypto wallet app has already shown impressive growth since its initial 2023 launch, being downloaded hundreds of thousands of times by users in over 140 countries. This Android release represents the next step in Robinhood’s stated mission of democratizing finance by empowering self-custody and open blockchain accessibility.

Robinhood’s Value-Added Features for UK Traders

In a separate but related move, Robinhood has now made its commission-free stock and options trading platform officially available to all eligible customers in the United Kingdom after a successful waitlist period. UK investors gain access to over 6,000 global companies listed on US markets, with no commission fees or foreign exchange charges on trades.

Jordan Sinclair, President of Robinhood’s UK operations, said:

Today’s general availability marks the start of a new chapter for Robinhood, and we’re excited to continue challenging the status quo by delivering more local products and services that resonate with our customers and meet their needs.

Key features for UK traders include web platform support, special rewards for new signups, and a referral program to invite friends and family. The UK launch follows the company’s official expansion into the market late last year.

While still early days, these dual announcements demonstrate the company’s accelerating push to make financial services more accessible, lower-cost and innovative on a global scale. As blockchain and investing opportunities continue growing rapidly, the company is staking its claim as the go-to platform for equal access participation. Customers should expect continuous new feature rollouts and offerings as the company works to reshape modern money movements.

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Solana’s Bullish Breakthrough: TD Sell Signal Invalidated, Poised for 70% Surge

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In a recent analysis, renowned crypto analyst Ali Martinez has painted an optimistic picture of Solana’s future price movements. Martinez’s bullish outlook stems from a significant development on Solana’s daily chart: the invalidation of the TD sell signal. This event marks a pivotal moment for SOL, suggesting a potential shift towards a bullish trajectory.

The TD sell signal, a key indicator used by traders to gauge market sentiment and potential price reversals, has been rendered invalid, indicating diminishing selling pressure and a potential surge in buying interest. 

Solana’s (SOL) Poised for a Potential Surge of 70%

This validation of the bullish momentum is exemplified by SOL’s decisive breakthrough of the setup risk line at $198. Such a breach not only signifies a break from the previous bearish trend but also sets the stage for a new countdown towards another sell signal, albeit from a higher price level.

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A recent break, as can be seen on Solana’s chart, is reminiscent of an unbelievable event from December last year. Since then, when the TD sell signal failed, it became a trigger, and $SOL flew higher than its setup risk line. This led to an exceptional 70% rise in the price of Solana before meeting the other sell signal.

The historical echo highlights how unique this current moment is and may be used to suggest that there might be a significant upward movement for SOL’s price trajectory. Martinez’s analysis shines like a beacon of hope for those who have invested in Solana, as it signals promising days ahead for the coin.

The invalidated TD sell signal yields quite a bullish sentiment regarding Solana. This demonstrates how resilient as well as viable this new age digital asset is within crypto’s broader space.

Currently, the price of SOL stands at $198.45, accompanied by a 24-hour trading volume of $19.96 billion and a market capitalization of $88.53 billion. Over the past 24 hours, the SOL price has experienced a sight decrease of 1.73%.

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Solana (SOL) 24-Hours Chart | Source: CoinMarketcap

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Cardano (ADA) Faces Downturn Despite Rising Optimism – Analyst Forecasts Surge to $5

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Cardano (ADA), one of the leading cryptocurrencies by market capitalization, has recently experienced a downturn after hitting its recent high at $0.80. Despite this temporary setback, there is a lot of expectation among investors about ADA’s price going up significantly.

This optimism has been fueled by the insightful analysis provided by crypto analyst Ali Martinez. Martinez linked current ADA market behavior to trends seen between 2018 and 2021 and thus suggested how the cryptocurrency’s prices may go.

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According to Martinez’s analysis, if the fractal pattern repeats itself, ADA will be in the consolidation phase within $0.55-0.80 for the next few weeks before it surges up to $1.70. Then another period of consolidation would follow which might allow it break out towards $5 range.

Cardano (ADA) Short-term Price Forecast

As of the latest update, the current price of Cardano (ADA) stands at $0.666439. The 24-hour trading volume reached $2.89 billion, and the market capitalization is $22.54 billion. Over the past day, ADA has seen a decrease of -6.08%; over the past week, it has experienced a 10.12% decline.

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Cardano (ADA) 7-Day Chart | Source: CoinMarketcap

Insights from Changelly suggest that Cardano’s price is anticipated to experience a slight decline of approximately 2.43%, possibly reaching its lowest point by March 18, 2024. The current analysis of technical indicators indicates a predominantly Bearish market sentiment, with only 13% showing signs of Bullish sentiment. Additionally, the Fear & Greed Index stands at 81, reflecting extreme Greed among investors.

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Cardano (ADA) Faces Downturn Despite Rising Optimism - Analyst Forecasts Surge to $5 14

In light of Cardano’s price movements at the start of 2023, crypto experts predict an average ADA rate of $0.723 by March 2024. The minimum and maximum borders for the possible range may oscillate between $0.664 and $0.782, respectively.

Consequently, this would give a projected Return on Investment (ROI) of about 9.5%. Despite short-term headwinds, overall market sentiment on Cardano is still positive as investors track its every move, hoping for gains in the digital currency.

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Solana (SOL) Strong Performance Sets Stage for New ATH in March; Analyst Eyes $305

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Solana (SOL) has shown remarkable grit and determination to remain afloat through a major market slump. While both Bitcoin and Ethereum witnessed sharp declines, with Bitcoin plummeting from its all-time high to $65,000 and Ethereum retracing to $3,571, SOL experienced a dip from its peak of $186 to a low of $165 before swiftly regaining momentum and rebounding.

At the time of writing, Solana trades at $178.11, with a daily volume record of around $28.06 billion and a market capitalization of $79.01 billion. In this past day, the SOL price increased by 5.58%, whereas over one week, it has gained as much as 22%. This perseverance and impressive performance showcase how strong SOL is in relation to other cryptocurrencies.

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Solana (SOL) 7-Day Chart | Source: CoinMarketcap

Rekt Capital, a crypto analyst, pointed out that Solana (SOL) has recently moved above an important resistance region but must take it back as support to establish its upward path. The analyst drew attention to historical data, which showed rejection when this resistance level represented by blue color was hit, although he also noted bullish moves as weekly closes on SOL exceeded this threshold.

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However, it will be crucial to observe the next weekly closes to determine if SOL can have a continuation of its uptrend. It is vital that Solana breaks out of this barrier pictured as blue to go past $200.

This analysis demonstrates why this resistance level is significant for SOL’s future price movements and potential for more expansion. Investors and traders will accordingly watch how SOL manages itself regarding these levels during the forthcoming weeks.

Solana (SOL) Will Surpass Previous ATH in March

Changelly’s technical indicators are signaling a bullish market sentiment of 84% for Solana, indicating a strong positive outlook among traders and investors. Additionally, the Fear & Greed Index, with a score of 88, reflects extreme greed in the market, suggesting heightened enthusiasm and optimism regarding SOL’s prospects.

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Solana (SOL) Strong Performance Sets Stage for New ATH in March; Analyst Eyes $305 18

Drawing from the analysis of price fluctuations observed at the beginning of 2023, cryptocurrency analysts have projected that by March 2024, the average rate of Solana (SOL) could reach around $236.44. This projection is based on past market performance and trends.

Moreover, experts predict that the SOL will hit a low of $167.41 while its maximum price may increase to $305.46. These estimates give a range for SOL’s price movement, which can fluctuate depending on market forces and variables that influence digital asset valuations.

In light of these estimates, Solana can boast an impressive potential Return on Investment (ROI) at 78.9%. This percentage value denotes how much investors would gain in terms of appreciation if SOL prices corresponded with the expected averages plus peak prices during this period.

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Solana (SOL) Sell Signal Sparks Speculation: Can Solana Defy the Odds and Soar?

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Crypto analyst Ali Martinez recently offered valuable insights into the trajectory of Solana’s price movement. Martinez highlighted the TD Sequential indicator, which currently presents a sell signal on Solana’s daily chart.

Delving into historical data dating back to December 2023, Martinez noted a consistent pattern: whenever this indicator signaled a sell, the price of Solana (SOL) experienced notable declines, typically ranging between 17% to 28%. This historical precedent serves as a compelling indicator of potential future movements.

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With this in mind, Martinez speculated on the potential retracement levels for Solana. Based on past trends, Martinez suggested that Solana could potentially retrace to $152 or even dip as low as $127 in the coming days or weeks.

This analysis underscores the importance of technical indicators in predicting price movements within the volatile cryptocurrency market, offering valuable insights for investors and traders alike as they navigate Solana’s price trajectory.

Solana Defies Sell Signal, Shows Strong Growth

Despite the sell signal, SOL continues to defy expectations, surging and showing signs of further growth. As of the time of writing, SOL is trading at $178.57, exhibiting a robust 24-hour trading volume of $16.68 billion and boasting a market capitalization of $79.21 billion. 

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Solana (SOL) 24-Hours Chart | Source: CoinMarketcap

In the last 24 hours alone, SOL has experienced a notable price increase of 5.97%. Over the last month, SOL surged by almost 50%, and in the last week, SOL experienced a 24% increase in its price. Forecasts from Changelly indicate a promising trajectory for SOL, with an anticipated 12.27% increase, propelling its value to $183.78 by March 15, 2024. 

This forecast aligns with bullish sentiments prevalent in technical indicators, with a 77% bullish market sentiment detected for Solana. Moreover, the Fear & Greed Index highlights an extreme greed score of 81, further underscoring the positive market sentiment and investor confidence surrounding SOL.

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Solana (SOL) Sell Signal Sparks Speculation: Can Solana Defy the Odds and Soar? 22

Drawing insights from historical price data, crypto experts foresee an average SOL rate of $237.02 for March 2024. Within this projection, the anticipated minimum and maximum price points stand at $163.28 and $310.76, respectively, offering a potential return on investment (ROI) of 82%. These optimistic indicators paint a compelling picture of SOL’s potential for growth and performance in the near future.

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Polygon (MATIC) Surges: Eyeing $1.34 Resistance for Continued Momentum

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The upward trajectory of Polygon (MATIC) has been consolidated for quite some time, making it poised to experience a significant price rise. That MATIC is resilient is evidenced by its conquering of major barriers thereby signalling bullishness. Meanwhile, the token has dominated considerable attention over the last month due to a 46% impressive surge.

In particular, during the previous week alone, there was an increase of 16%, which suggests that an encouraging outlook for further growth lies ahead. As at press time, Polygon’s price is $1.262094 with a 24-hour trading volume of $1.97 billion while its market capitalization stands at $10.11 billion. In the past 24 hours, MATIC has surged by a remarkable 8.45 %.

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Polygon (MATIC) 24-Hours Chart | Source: CoinMarketcap

MATIC Poised to Surpass $1.34 Rsistance for Further Uptrend

Polygon’s recent performance has been analyzed by crypto analyst Rekt Capital, and he notes that cryptocurrency has validated its strong macro uptrend. This trend has been backed up by an 83% surge since with a successful retest.

At present, according to Rekt Capital’s analysis as shown in the black line, Polygon is about to test a critical barrier at $1.34. It is worth mentioning that past data suggests a higher upward volatility every time MATIC crosses this vital point.

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This implies that for Polygon to maintain its bullish run and keep climbing upwards it will have to not just surpass the resistance level at $1.34 but also transform the same into a solid support zone. This tactical move would mark a fundamental shift in market sentiment which could lead to further advances and cementing MATIC’s position within the crypto landscape.

Furthermore, drawing from the price movements observed in the early stages of 2023, cryptocurrency experts anticipate that the average rate of Polygon will hover around $1.29 by March 2024. Within this projection, it’s anticipated that the minimum price for MATIC could settle at $1.18, representing a potential downside boundary, while the maximum price could reach $1.33, indicating an upper threshold for potential gains.

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Altcoin Frenzy Forecast Riding Bitcoin’s All-Time High Wave to Altseason2024

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Altcoin season seems imminent as Bitcoin approaches its latest all-time high (ATH). Many analysts expect altseason to begin and are optimistic about alternative cryptocurrencies’ potential for growth. Even though they are making gains currently and poised for significant upside momentum, there remains a window of opportunity for further rallying in the altcoin market.

Crypto analyst Titan of Crypto underscored that the ETH/BTC pair might be poised for a significant surge towards a specific target: the 161.8% Fibonacci extension level at 0.163. This could signal the onset of a substantial altcoin season in the near future.

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Further, another cryptocurrency analyst stated that alternative currencies were poised for massive momentum shift – a signal towards a move from bitcoin domination. In case it turns out to be true, this will light what they call “Altseason2024” where value and popularity of alternative cryptocurrencies would highly increase.”

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Captain Faibik, a crypto analyst, has shared insights on the altcoin season that is to come in May 2024 following the Bitcoin Halving event. This means there could be a change in market dynamics, leading to more activity and an appreciation in value of altcoins compared to Bitcoin.

What is important about this prediction is that it comes at a time when bitcoin halving events have historically been known to catalyze market movements and change investor mood. Therefore, investors are likely to track developments towards May 2024 as they envisage how this will affect their portfolio strategies and market positions.

Analyzing Altcoins Historical Trend

Crypto analyst Ash Crypto offers insights into historical trends with an update on ALTSEASON 2.0. Bitcoin is trading at its all-time high, while the altcoin markets have also experienced a substantial surge. However, amidst this euphoria, many investors await a potential correction, prompting a closer examination of the chart analysis.

A discernible pattern emerges after scrutinizing the current cycle alongside the preceding two: the ALT MARKET tends to enter a parabolic phase following Bitcoin surpassing its previous all-time high. An illustrative example dates back to April 2017, when Bitcoin shattered its 2013 high of $1163.

This event resulted in a massive increase in the value of the ALT market by $1 billion to about $78 billion within eight months and has had an 8000% increase. In fact, several altcoins went up by 100x to 1,000x during this period while there were only 1000 altcoins.

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Similarly, in December 2020, the trend repeated when Bitcoin exceeded its 2017 high of $19,600. It was at this stage that another parabolic move of the ALT market started, raising its capitalization from $42 billion to $425 billion (an approximately 900% surge). The falling phase saw altcoins gain massively within this range of 30x to 200x.

Bitcoin’s new peak was reached in February 2024. Based on previous circles, there will most likely be a parabolic rise in altcoins for the next six months. As of now, the market cap of alternative coins stands at around $337 billion, with a potential to hit between $1 and 2 trillion in the future.

Preparation and understanding are key during this anticipated parabolic move. Rather than succumbing to fear over corrections typically ranging from 20% to 30%, investors are urged to consider the potential gains, which could range from 300% to 1000%. A prudent approach involves implementing a Dollar-Cost Averaging (DCA) strategy and holding altcoins for 6-9 months to maximize returns.

Despite some believing that altcoins have already undergone significant surges, those acquainted with the parabolic moves of 2017 and 2021 recognize that the true surge may be yet to commence. This analysis aims to provide informed insights based on past cycles, steering clear of inducing fear of missing out (FOMO).

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Weekly Highlights: Bitcoin New ATH & Ethereum Shine While Altcoins Surges 

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Bitcoin (BTC) recently surged, breaking previous all-time highs, while Ethereum (ETH) demonstrated strength by surpassing significant resistance levels. Amidst this bullish sentiment, numerous altcoins within the top 40 list exhibited remarkable gains and impressive price performances.

One standout performer among these altcoins was Render (RNDR), which witnessed a notable 66% surge over the past week, reaching a peak of $12.73. Currently, RNDR is trading at $12.41, marking a 5.80% increase in price and an 8% decrease in trading volume within the last 24 hours.

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Render (RNDR) 7-Day Chart | Source: CoinMarketcap

NEAR Protocol (NEAR) also attracted attention with a weekly increase exceeding 55%. Presently, NEAR is trading at $7.04, reflecting a 15.81% price increase and an impressive 122.56% surge in trading volume over the last 24 hours.

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NEAR Protocol (NEAR) 7-Day Chart | Source: CoinMarketcap

Similarly, The Graph (GRT) experienced a 41% gain in the past week. At present, GRT is trading at $0.4437, with a slight 1.23% decrease in price and a 53% decrease in trading volume within the last 24 hours.

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The Graph (GRT) 7-Day Chart | Source: CoinMarketcap

Additionally, several other altcoins demonstrated notable gains in their weekly charts. Binance Coin (BNB) reported a 25% increase, Uniswap (UNI) exhibited an 12% uptick, and Solana (SOL) displayed an 11% increase, as per data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin (BTC) has seen a remarkable surge in value, reaching new all-time highs. Presently, the price of Bitcoin stands at $72,275, with a trading volume of $71.54 billion over the past 24 hours and a market capitalization of $1.42 trillion. This represents a 3.77% increase in the last day, and a nearly 10% surge over the past week.

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Bitcoin (BTC) 7-Day Chart | Source: CoinMarketcap

Comparatively, Bitcoin has outperformed traditional assets, with a 10% increase, alongside Ethereum’s 14%, while the S&P 500 has seen a mere 0.5% return during this period. Historically, cryptocurrency markets have demonstrated resilience to fluctuations in traditional markets, fostering optimism among traders for this trend to persist.

Renowned cryptocurrency analyst Michaël van de Poppe has pointed out the sustained upward trajectory of Bitcoin, surpassing the significant $72,000 mark, exceeding his previous forecasts. As anticipation builds for the release of CPI data, there is keen interest within the community to ascertain whether this rapid growth can be maintained.

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Furthermore, Ethereum has also experienced a significant surge, with its current price standing at $4,050.76, accompanied by a trading volume of $29.08 billion and a market capitalization of $486.49 billion over the last 24 hours, reflecting a 2.91% increase.

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Ethereum (ETH) 7-Day Chart | Source: CoinMarketcap

Van de Poppe has provided insights into Ethereum’s price dynamics, highlighting its recent underperformance compared to other cryptocurrencies post-Merge. He emphasized the importance of Ethereum surpassing the 0.06 BTC threshold, suggesting it could signal a substantial expansion within the Ethereum ecosystem.

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Shiba Inu Primed for Potential 40% Surge to Reach $0.000052

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Cryptocurrency analyst Ali Martinez has provided new information on how the price of the Shiba Inu (SHIB) is moving, which is quickly gaining popularity for its recent outstanding surge. Martinez noticed a symmetrical triangular pattern on the 4-hour price chart of SHIB. This pattern suggests a bullish breakout if the price rises above the $0.000038 resistance level.

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In March, observers could see the triangle depiction of the SHIBA market amid high volatility. It went through the red zone with the formation of the Candel on the charts. It is a fact that, in times of high trading volumes, stock volatility is usually very high, too, and it becomes impossible for traders to establish a trend.

According to Martinez’s expectations, such a scenario looks probable when SHIB breaks the upper limit of the triangle formation, receiving the rise to $0.000052. On the other hand, we should point out that the SHIB potentially indicates a downward decline, which equally represents the bearish trend.

Shiba Inu Ranks Among the Top Ten

SHIB, dubbed a “Dogecoin killer,” is presently the tenth-largest cryptocurrency by market cap, having just exceeded Dogecoin’s market capitalization during its recent ascent. The community has hinted at imminent token burning to limit supply, propelling the increase.

Shytoshi Kusama, the lead developer of Shiba Inu, continues to actively involve himself in the community, dropping clues about the potential creation of a decentralized “SHIB world. This continuous contact powers the progress that SHIB has made. However, for the present surge to continue, SHIB’s price has to stay above critical support levels.

Since the beginning of March, SHIB has more than tripled in value; the current trading Shiba Inu price is $0.00003480, with a 24-hour trading volume of $2.27B and a market cap of $20.51B. The SHIB price decreased by 0.45% in the last 24 hours.

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Source: CoinMarketCap

While the future remains uncertain, the pattern identified by Martinez signals the potential for further bullish momentum in SHIB. Investors will watch closely to see if the price can break out above $0.000038 to confirm the start of the projected 40% rally towards $0.000052.

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