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Chainlink(LINK) Price Prediction: Major Surge Expected Amid Volatile Market

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  • Bollinger Bands squeeze hints at major market shift for LINK.
  • Spot inflows and outflows show active trading around LINK.
  • Increased liquidations signal potential volatility in Chainlink market.

Chainlink (LINK) witnessed increased volatility as technical indicators suggest an imminent price shift. Market data,including a squeeze in Bollinger Bands and trading volume fluctuations, signal a major move could be imminent for the cryptocurrency.

Bollinger Bands Squeeze Indicates Imminent Market Movement

The 12-hour chart for Chainlink (LINK) reveals that the cryptocurrency’s Bollinger Bands are tightening, a key signal for volatility. As per technical analysis, a squeeze in Bollinger Bands typically precedes large price movements. Traders often interpret this pattern as an indication of a breakout or breakdown in the near future.

According to a prominent analyst Ali Martinez, LINK shows high volatility as its price hovers around the $19.40 mark, with a narrow price range. This pattern reflects the lack of significant market movement but signals a major shift may soon unfold. This technical formation suggests that LINK could experience a sharp price movement in either direction.

Spot Inflow and Outflow Data Show Surge in Market Activity

Recent data from coinglass reveal significant spot inflows and outflows for LINK, further emphasizing the potential for volatility. The data shows fluctuations in both net inflows and outflows in LINK. These spikes in volume coincide with price fluctuations, indicating that market participants are actively trading, which could signal upcoming market shifts.

At certain points, the inflows have surged, indicating bullish sentiment, while the outflows reflect bearish sentiment. The contrast in trends suggest that market participants are uncertain, which risks the price stability of LINK. As traders react to market indicators, these inflows and outflows could provide clues to future market direction.

Chainlink Market Cap Shows Stability Amid Fluctuations

Link’s market cap has seen substantial fluctuations over the past few months. Currently, its market cap remains relatively steady after it experienced significant highs and lows. The cryptocurrency has managed to maintain its value within a small range despite the volatility .

Chainlink Market Cap
Chainlink(LINK) Price Prediction: Major Surge Expected Amid Volatile Market 3

The market cap has consistently mirrored the price action, showing how investor sentiment has shifted over time. Although the cryptocurrency’s price has recently dipped to the $20 mark, the market cap fluctuations suggest that major price movement may be on the horizon.

LINK’s Crucial Support Test

Chainlink (LINK) is currently testing key support and resistance levels around $18.99, signaling potential for significant price movement. The RSI at 40.35 and the MFI at 40.35 indicate a balanced market, but any breakout above resistance could push the price toward $20 or higher. If LINK fails to hold support, it may experience further declines. 

Chainlink technicals
Chainlink(LINK) Price Prediction: Major Surge Expected Amid Volatile Market 4

Solana Price Prediction: Can $SOL Overcome Unlocks and Market Volatility?

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  • Solana wallets with over 100 $SOL drop by 2.24%.
  • FTX estate unlock to release 9.75M SOL on March 1, 2025.
  • SOL price and market cap face volatility after January surge.

Solana ($SOL) has seen a significant shift in its market dynamics over the past few weeks. On chain data reveals a decline in the number of wallets holding more than 100 $SOL, dropping by 2.24%. This downward trend has caught the attention of investors amid the imminent release of a major $SOL unlock on March 1, 2025.

Declining Wallet Numbers

Recently, the number of wallets with more than 100 $SOL, decreased from 154,653 to 151,184. This decline, captured over a two-week span, reflects a gradual reduction in the number of major holders. This decline suggests a drop in investor confidence or some holders shifting assets. The reduction has occurred amid mixed sentiment around Solana’s performance in the market, especially with upcoming large unlock events.

Upcoming FTX Estate Unlock

The Solana market faces another challenge, with the FTX estate scheduled to release 9.75 million SOL tokens on March 1. This release is the largest single unlock of $SOL and may have a significant effect on the coin’s value. The cumulative unlock schedule indicates that over the next few months, a massive volume of $SOL will be unlocked, likely increasing selling pressure. These unlocks could lead to market volatility, especially because they involve large quantities.

Volatility and Price Action

Solana’s price has experienced considerable volatility in recent months, as seen in various spot inflow and outflow data. A dramatic spike in inflows was seen in mid-January amid a brief surge in $SOL’s price to over $250. However, after the spike, the price dropped which raised concerns about market volatility and liquidity.

Solana liquidation
Solana Price Prediction: Can $SOL Overcome Unlocks and Market Volatility? 7

Moreover, a recent analysis of total liquidations indicates that Solana faces a rise in liquidation events, with more shorts and longs being liquidated in recent weeks. This increased volatility reflects the broader uncertainty in the Solana market, as large players and retail investors navigate the price fluctuations.

Solana’s Market Position

Although Solana’s price recently crossed the $250 mark, it is pulled back and now faces consolidation under $200. Analysts suggest that unless the token regains its position above $210, it could face significant downward pressure. This could result in a massive sell-off, raising concerns about its future market position.

Solana Market Cap
Solana Price Prediction: Can $SOL Overcome Unlocks and Market Volatility? 8

Although SOL saw an initial rise in 2025, marked by a steady market cap increase, the overall trend appears to be reversing. Solana’s market cap, which is around the $200 billion mark, shows signs of a slow decline in correlation with the token’s price. The combination of token unlocks, declining wallet counts, and volatile price action increases uncertainty in the future outlook for Solana.

The upcoming unlock events and fluctuating investor sentiment suggest that further volatility is on the horizon for this once-promising blockchain network.

XRP Price Prediction: Breakout Potential Could Propel XRP to $3.35

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  • XRP shows clear bullish signals with cup-and-handle pattern.
  • Market volume and open interest surge, signaling bullish trend.
  • XRP liquidations reflect strong market sentiment and upward momentum.

XRP has recently gained significant attention, as its price suggests a strong upward momentum. The cryptocurrency has reached a price range of $2.50 to $3.00, with a clear breakout potential towards $3.35. This price movement is likely attributed to the development of a cup-and-handle pattern, suggesting further price appreciation.

A Breakout Could Set the Stage for $3.35

XRP shows strong bullish potential as it follows a cup and handle pattern, sparking expectations of a price surge. Analyst Ali Martinez predicts that a breakout could push XRP towards $3.35, after months of steady price consolidation. If XRP’s price breaks the current resistance levels, it could trigger a rise toward $3.35.

XRP’s market behavior aligns with the cup-and-handle theory which suggests a significant price increase after a consolidation period.  This formation often indicates that a breakout will occur once it surpasses the resistance level. The cryptocurrency has maintained consistent upward movement since mid-January. XRP’s recent price movement from under $1.50 to over $2.70 attracts more attention from investors.

Open Interest and Funding Rate Surge

XRP’s open interest (OI)-weighted funding rate illustrates a strong market activity trend due to increased investor interest. Open interest data shows that investors are heavily involved in XRP’s futures contracts, indicating expectations for further price increases.  As futures contracts typically attract institutional traders, this indicates that large players are positioning themselves for a potential breakout.

XRP OI
XRP Price Prediction: Breakout Potential Could Propel XRP to $3.35 12

The open interest data also reveals a strong rise in market activity over the past two months, which correlates with XRP’s price movement. The funding rate has maintained a positive upward trend which indicates that the market remains bullish in the short term.

Volume and Liquidity Indicators Point to Growing Market Interest

XRP’s trading volume has seen a significant increase, which further supports the bullish outlook. The volume surge from early February 2025 coincides with the recent upward price movement. This surge in volume often indicates growing market interest and can contribute to sustained bullish momentum. This growth mirrors the surge in price as it approaches the $3.00 mark, which further increases confidence to traders.

XRP
XRP Price Prediction: Breakout Potential Could Propel XRP to $3.35 13

Moreover, the spot inflow and outflow data shows a positive trend, which suggests that more capital is entering the XRP market. A positive netflow indicates increased investor confidence in the asset, contributing to its continued price appreciation .These inflows align with price movements, affirming the bullish outlook for XRP.

Total Liquidations and Market Sentiment

XRP has also witnessed a significant increase in total liquidations for both long and short positions. The total liquidation reveals that the market has experienced sharp liquidations, with a large portion of shorts being cleared. This signals that market participants with bearish positions were forced out as XRP’s price surged.

XRP Price Market Cap
XRP Price Prediction: Breakout Potential Could Propel XRP to $3.35 14

Additionally, the market capitalization of XRP has seen significant growth surpassing $2 billion. This increase in market cap suggests growing investors’ interest and rise in momentum in the cryptocurrency market.

Major Cryptos Under Pressure: TD Sequential Flashes Sell Signals Ahead of FOMC

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  • Bitcoin and Ethereum show sell signals, indicating possible price drops.
  • Solana and Cardano struggle with resistance as the market prepares for turbulence.
  • FOMC’s rate decision could shape future crypto market movements.

Major cryptocurrencies are facing sell signals, indicating potential dips in the coming days. As the FOMC meeting draws near, the market anticipates uncertainty and traders should brace for possible volatility.

TD Sequential Indicator Flashes Sell Signals

The cryptocurrency market faces significant uncertainty as the Federal Open Market Committee (FOMC) meeting approaches. Several major digital assets are showing signs of potential downward movement. The TD Sequential indicator has flashed sell signals for Bitcoin, Ethereum, Solana and Cardano, suggesting possible corrections in the near term.

Bitcoin, currently priced at $102,723, has experienced a major resistance near the $103,200 level. A sell signal from the TD Sequential indicator, marked as a “9,” indicates a potential dip. 

Ethereum has also shown a sell signal at the $3,154 mark. The resistance level remains strong at $3,200, which could cause a short-term decline. The TD Sequential indicator points towards a potential correction which implies an imminent downward shift in Ethereum’s price.

Solana is also under pressure, with the indicator showing a sell signal at around $235. SOL has faced difficulties to maintain its position due to significant resistance at this level. A potential drop from these levels is anticipated.

Cardano presents a mixed outlook with both bullish and bearish signals. A green 1 is followed by a sell signal at $0.9464 which suggests imminent volatility. The support level at $0.9400 and resistance at $0.9500 suggest that the asset could face fluctuations in the near future.

Traders and market participants are advised to monitor price movements closely as a drop could occur before further stabilization.

FOMC Meeting Sparks Speculations About Market Volatility

As the FOMC meeting approaches, risk assets, including cryptocurrencies, may experience increased volatility. The Federal Reserve is expected to keep interest rates unchanged and  maintain the target range at 4.25% to 4.5%. The market will closely monitor any signals from Chairman Jerome Powell on the U.S. economy’s future outlook.

A key area of focus is the U.S. debt ceiling, which has been reached at $36 trillion. The Treasury has implemented extraordinary measures to continue government operations, possibly influencing market liquidity. These measures could counterbalance the effects of the Fed’s tightening policies, thus affecting risk assets.

Moreover, there is increased scrutiny on shelter inflation. Major indicators suggest that shelter inflation is moderating, with slower rent increases in recent months. This trend could impact the consumer price index and may prompt market reactions if Powell acknowledges this disinflationary shift.

The crypto market is poised for possible turbulence, especially with the current economic climate. Bitcoin, Ethereum, and other cryptocurrencies may face downward pressure if the Fed’s actions signal tighter economic conditions. However, a shift towards a more dovish stance could trigger a rally in risk assets like cryptocurrencies.

As the market waits for the FOMC’s decision, traders should be on the lookout and adjust their strategies. It is important to monitor these developments closely because they may cause major price movements across various assets in the coming days.

Disclaimer:

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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.

Related Reading |  Grayscale’s Bitcoin Bonanza: A Ticking Clock For GBTC Holdings 

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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Related Reading | Memecoins Frenzy Fuels Extreme Profits and Speculation

Top 6 Memecoins Surges Rapidly While Bitcoin Experienced Huge Spike & Ethereum Shine

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Bitcoin (BTC) and Ethereum (ETH) have been commanding significant attention in the dynamic cryptocurrency landscape. BTC is edging closer to its previous all-time high, while ETH has exhibited remarkable resilience by overcoming substantial resistance levels. Despite these notable performances, the overall market sentiment remains bullish, with numerous altcoins demonstrating impressive growth trajectories. Memecoins, in particular, have emerged as focal points, drawing attention with their exceptional gains.

Top 6 Memecoins Rapid Surge

Within the realm of memecoins, Pepe (PEPE) has emerged as a standout performer, experiencing an unprecedented surge of 400% over the past week. At its pinnacle, the memecoin reached an impressive peak of $0.00000766. Presently, PEPE continues to maintain momentum, trading at $0.00000716, marking a substantial 32.80% increase in price and an impressive 80% surge in trading volume within the last 24 hours.

PEPE 7D graph coinmarketcap 1
Source: CoinMarketcap

Dogwifhat (WIF) has captured significant interest, boasting a weekly surge exceeding 338%. The memecoin currently valued at $1.63, WIF showcases stability despite a marginal 6.81% decrease in price, accompanied by a modest 8.56% decline in trading volume within the last 24 hours.

WIF 7D graph coinmarketcap
Source: CoinMarketcap

Floki (FLOKI) has also made waves within the cryptocurrency community, exhibiting a remarkable 320% gain over the past week. Presently the memecoin is trading at $0.0001536, FLOKI demonstrates resilience with a slight 4.23% increase in price, juxtaposed with a notable 26% decrease in trading volume within the last 24 hours.

FLOKI 7D graph coinmarketcap
Source: CoinMarketcap

Bonk (BONK) Solana based memecoin has witnessed a surge of over 205% in the past week, currently trading at $0.00003664. Despite experiencing a significant 45% increase in price, BONK also boasts a remarkable 108% surge in trading volume within the last 24 hours, indicating heightened investor interest.

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Source: CoinMarketcap

Shiba Inu (SHIB) a well known memecoin has showcased robust growth, boasting a notable 178% increase over the last week and currently trading at $0.00002711. With a commendable 22% rise in price and a modest 2% increase in trading volume within the last 24 hours, SHIB continues to captivate market participants.

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Source: CoinMarketcap

The pioneering memecoin, Dogecoin (DOGE), has recorded impressive gains of 92% over the last week, trading at $0.1674. DOGE has experienced an 18% increase in price and an impressive 80% surge in trading volume within the last 24 hours, underscoring its enduring appeal within the cryptocurrency ecosystem.

DOGE 7D graph coinmarketcap
Source: CoinMarketcap

Moreover, several altcoins, including Bitcoin Cash (BCH), Cardano (ADA), Polkadot (DOT), and Solana (SOL), have reported substantial gains in their weekly charts. BCH surged by an impressive 70%, ADA by 33%, DOT by 31%, and SOL by 28%, as per data sourced from CoinMarketCap, further illustrating the widespread bullish sentiment pervading the cryptocurrency markets.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin (BTC) has recently surged, surpassing the $66,000 mark. As of the latest update, BTC is priced at $66,256, boasting a 24-hour trading volume of $65.53 billion and a market capitalization of $1.30 trillion. Notably, BTC has seen a 6.02% increase in price within the last 24 hours, with an impressive gain of 28% over the past week.

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Source: CoinMarketcap

Renowned crypto analyst CryptoCon has conveyed an optimistic outlook for Bitcoin’s future trajectory, hinting at a potential early Christmas for enthusiasts of the digital asset. This optimism follows Bitcoin’s recent breakthrough of a significant resistance level just a fortnight ago. Subsequent to this breakthrough, two new price targets have emerged: Level 3, marked at $85,334, and the Cycle Top Band, positioned at $115,000.

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However, it’s crucial to recognize that the indication of $115,000 as the cycle top by the Cycle Top Band isn’t set in stone. Historical data indicates that Bitcoin often surpasses previous all-time highs (ATHs), leading to an upward extension of the bands and the possibility of attaining even loftier prices. Therefore, while $115,000 may appear to be a significant milestone, it might not signify the ultimate peak.

The significance of the Cycle Top Band only materializes when Bitcoin’s price interacts with it, signaling a potential conclusion of the cycle. This methodology has proven effective in the past, with Bitcoin’s price movements aligning with this pattern throughout the last three cycles.

Furthermore, Ethereum (ETH) has broken out from a major resistance level of $3,500. Currently, ETH is priced at $3,560.83, accompanied by a 24-hour trading volume of $23.33 billion and a market capitalization of $427.77 billion. Over the last 24 hours, ETH has observed a 3.63% increase in price and a notable 14% surge over the past week.

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Source: CoinMarketcap

Ethereum is currently positioned for significant growth, as underscored by insights from Rekt Capital, a prominent crypto analyst. Rekt Capital points out that Ethereum has recently surpassed its Macro Range, which was previously marked in red, indicating a significant breakthrough in its price movement. This development signals a potential shift in the market dynamics.

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However, in order to sustain this upward momentum, Ethereum now faces the crucial task of solidifying the former resistance level represented by the orange zone as a new support level. This transition is essential for Ethereum to consolidate its gains and pave the way for further price appreciation. Successfully establishing this support level would provide a strong foundation for Ethereum to ascend to higher price levels with greater stability and confidence.

Despite the challenges ahead, the current trajectory of Ethereum’s price action is encouraging. The market sentiment is optimistic, reflecting growing confidence in Ethereum’s long-term prospects and its ability to navigate through evolving market conditions.

Weekly Highlights: Bitcoin & Ethereum Hold Strong, Altcoins Surges

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Bitcoin (BTC) and Ethereum (ETH) have remained firm on their support levels, while many other alternative coins within the top 60 were performing impressively. Uniswap (UNI) has been the best performer of these, while Flare (FLR) and Filecoin (FIL) have taken the second and third places, respectively, for a significant increase.

Uniswap (UNI) surged by 40% in the past week, pushing UNI toward $12.79. As of the time of writing, UNI trades at $10.65 and has increased by 1.80%, while its 24-hour trading volume indicates a sharp decrease of 55%.

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Uniswap (UNI) 7-Day Chart | Source: CoinMarketcap

Flare (FLR) also gain significant attention, with a weekly increase of more than 32%. At present, it trades for $0.04635 per FLR, marking a massive surge of 17.81%. Most interesting is that trading volume has increased by 185.56% in the last 24 hours.

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Flare (FLR) 7-Day Chart | Source: CoinMarketcap

Another coin with a huge surge this week was Filecoin (FIL), where its price surged by 23%. According to the latest data, FIL currently exchanges hands at $8, gaining 1.23% in price, while the trading volume increased by 11% within the last 24 hours.

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Filecoin (FIL) 7-Day Chart | Source: CoinMarketcap

Apart from these, weekly data for some other altcoins, including Mantle (MNT), Render (RNDR), and BNB (BNB), had also depicted figures in green, with MNT surging by 18%, RNDR at 17%, and BNB experienced a rise of 10%, according to data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin tested near $52,945 before correcting lower to test the critical $50,556 support level. Currently, BTC exchanges hands at $51,346 with a 24-hour trading volume amounting to $29.04 billion; its market capitalization is positioned at $1.01 trillion. During the last 24 hours, BTC decreased by 0.78%.

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

Santiment highlighted that despite Bitcoin’s price increasing by an impressive 74% over just four months, it had shown no signs of usual FOMO behaviour from investors. The interest in BTC increased sharply when the SEC approved 11 ETFs; however, the absence of fresh enthusiasm points to a possible rally continuation. Analysts are watching crypto forums carefully for signs of irrational exuberance which might indicate a nearing market top.

Crypto analyst Ali Matinez identified a critical range for Bitcoin, with two significant supply zones to watch. The first zone that serves as support ranges from $50,000 to $51,570, which is estimated to hold about 670,220 BTC within about 1.3 million addresses.

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Weekly Highlights: Bitcoin & Ethereum Hold Strong, Altcoins Surges 46

In addition, the second zone that acts as resistance lies between $51,640 and $53,200 representing about 351,600 BTC held by over 752k addresses. If there is an upside breakout above resistance, it may result in a bullish upsurge towards $57,130, while a failure through support could end at$47,700.

Meanwhile, Ethereum (ETH) confirmed a positive correlation with Bitcoin, rallying to $31.29 before settling around $30.99. ETH’s 24-hour trading volume currently sits at a value of $24.47 billion, while its market capitalization is worth $372.71 billion, ETH has risen by 2.02% within the last 24 hours.

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

Pointing to the reason why Ethereum price is set for a bullish breakout, the borovik.eth cryptocurrency analyst points out that Ethereum is now rushing at full steam ahead toward new all-time highs as ultra-bullish factors of the cryptocurrency continue to converge. There will certainly be major improvements in two weeks on the predictions within the Ethereum network as EIP-484 becomes activated, making it more effective and scalable.

In addition, a pending spot ETF would further increase Ethereum’s clout, with improved access by investors and potential massive inflows from institutional buyers. And while at it, Layer 2 solutions are increasingly bringing back life to the Ethereum ecosystem as they address many of its current congestion problems, unlocking possibilities for development.

Moreover, the airdrops have been indicative of a lively community and good enthusiasm on the part of the adopters of various Ethereum-based projects. Most importantly, the NFT market is due for a very bullish explosion, signaling the era of expressions and possessions in digital form. With such potent catalysts at play, the sentiment around Ethereum is overwhelmingly bullish, thus instilling confidence among investors and enthusiasm alike.

Crypto Weekly Recap: Bitcoin & Ethereum Surges, Altcoins Follow the Trend

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Bitcoin (BTC) and Ethereum (ETH) have shown remarkable performance, experiencing significant increases in value. On the other hand, the cryptocurrency market has seen impressive gains across a spectrum of altcoins, both popular and low-cap, within the top 40 rankings.

Therefore, of all of these, VeChain (VET) posted the best show, Stacks (STX) and Filecoin (FIL) claimed the next two positions, on the list, respectively, with some impressive growth.

VeChain (VET) has skyrocketed by an impressive 50% to reach a peak of $0.05119 within the past week. VET is currently trading at $0.04566 after a slight dip, VET is still performing strongly, with a 2.80% increase in price and a fall in trading volume of around 18% over the last 24 hours.

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VeChain (VET) 7-Day Chart | Source: CoinMarketcap

Stacks (STX) also made notable gains, boasting a 49% increase in value during the previous week. Currently, STX is trading at $2.84, representing a price increase of 12.23% and a 35% rise in trading volume over the last 24 hours.

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Stacks (STX) 7-Day Chart | Source: CoinMarketcap

Filecoin (FIL) has been on the radar for recording a weekly surge of more than 23%. Currently, FIL has an estimated value of $6.55 implying that it increased by 5.81% while traded volume dipped by 23.56% over the last 24 hours.

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Filecoin (FIL) 7-Day Chart | Source: CoinMarketcap

Additionally, popular altcoins such as Polygon (MATIC), Cardano (ADA), and Uniswap (UNI) are also up on their weekly charts, with MATIC rising by 20%, ADA by 18%, and UNI by 16%, according to data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin (BTC) has recently surged past the $52,000 mark, suggesting that there is still an appetite for Bitcoin at a higher level. With over 75% of investments flowing into Bitcoin seen originating from spot Bitcoin exchange-traded funds (ETFs), CryptoQuant data research reveals in their report.

Furthermore, Santiment highlighted a notable shift in the distribution of BTC supply across different-sized wallets. Wallets holding between 1,000 and 10,000 BTC saw an increase of $12.95 billion in 2024, whereas wallets holding between 100 and 1,000 BTC experienced a decrease of $7.89 billion. This suggests a net accumulation of approximately $5.06 billion in Bitcoin by wallets holding 100 to 10,000 BTC so far this year.

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Crypto Weekly Recap: Bitcoin & Ethereum Surges, Altcoins Follow the Trend 53

Meanwhile, in the last five days, the number of transactions with a value above $100,000 was the highest since June 2022, which shows higher interest from the large stakeholders after crossing above $50,000 this week.

Bitcoin is currently changing hands at $52,300, with a 24-hour volume of $35.00 billion and a market cap of $1.03 trillion. Over the last 24 hours, BTC’s price has increased by 1.19%, and for the week, it has increased by 9%.

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

Furthermore, Ethereum (ETH) has demonstrated a positive correlation with Bitcoin’s price this week. With Bitcoin already breaking $52,000, Ethereum is now reclaiming $2,800 for the first time since May 2022. Most likely, investors are supporting the uptrend by the positive momentum of BTC, combined with some speculation over the new Dencun upgrade and the possibility of a spot Ether ETF.

Michaël van de Poppe, MN Trading CEO & Founder and crypto analyst noted that Ethereum had remained somewhat stable as BTC pumped significantly indicating resilience from Bitcoin’s quick movements. This suggests that if Bitcoin levels off and consolidates its growth, then ETH might take off. Van de Poppe puts forward that the price of ETH could soon hit between $3,500 and $4,000.

At present, Ethereum is valued at $2,922.82 with a 24-hour trade volume of $13.26 billion and the market cap of $351.22 billion. The price of ETH has gone up by 3.80% in the last 24 hours, while it showed significant gains of over 16% on the weekly chart.

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

Top Crypto Weekly Highlights: Bitcoin & ETH Surges, Altcoins Follow the Trend

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Cryptocurrency markets have witnessed a significant surge in both Bitcoin (BTC) and Ethereum (ETH) prices, sparking a broader momentum across various altcoins. Out of a wide digital asset portfolio, the top performers could be seen in several, such as Kaspa (KAS) outperforming within the top 40 cryptocurrencies.

According to data provided by Santiment, the total market capitalization in cryptocurrencies saw some upswing, as last week posted a 5.9% hike. The trading volume, in addition, went up by 65.4% as compared to last week, indicating increased interest in altcoins. A period of high investor greed is often marked by a spike in market activity and a subsequent rise in prices.

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Source: X

Kaspa (KAS) had clocked about 40% in value over the previous seven days, at its highest point of $0.147 before correcting a bit lower. At the time of this writing, KAS exchanges hands around $0.1396. Although, with the fact that over the last 24 hours, Kaspa trading performance has registered a 3.80% price drop and 8% decrease in trading volume, the momentum is still bullish.

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Immutable (IMX) 7-Day Chart | Source: CoinMarketcap

Following closely behind, Immutable (IMX) has also witnessed substantial gains, securing the second position respectively. Immutable (IMX) recorded a remarkable 39% increase in value over the past week. IMX is currently trading at $2.98, with a 9% gain in the last 24 hours.

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Kaspa (KAS) 7-Day Chart | Source: CoinMarketcap

Similarly, Stacks (STX) garnered significant attention, securing the third position with a weekly surge of over 27%. Currently, STX is trading at $1.87 with a 1.81% price decrease and a 4.56% increase in trading volume within the last 24 hours.

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Stacks (STX) 7-Day Chart | Source: CoinMarketcap

Several other altcoins have also reported notable gains. Thorchain (RUNE), Sui (SUI), and Optimism (OP) saw increases in their weekly charts, with RUNE up by 20%, SUI by 16%, and OP showing a 15% increase, according to data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

A recent analysis by Santiment noted that Bitcoin’s price observed an upsurge over the past week, with the cryptocurrency adding around 13% in value. Importantly, such upticks in price have seen traders speculate on the new support and resistance levels that may have been in place. Specifically, the expectation was that Bitcoin may soon break the barrier of $50,000. The price dynamics, however, over the weekend have started to shift as Bitcoin has broken those thresholds that were expected.

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Source: X

Altcoins, which had previously played secondary roles, started to capture the attention of investors as Bitcoin’s dominance momentarily waned. This trend reflects a pattern observed throughout the ongoing bull cycle, which commenced in October.

During the bull cycle, the typical sequence of events unfolds in three distinct phases. First of all, there is a topping of the dominance in the market that is experienced by an unprecedented pump in the price of Bitcoin. Following this, investor confidence in the future value of Bitcoin is usually increased.

Subsequently, as profits from the Bitcoin surge slowly diversify into other cryptocurrencies, commonly referred to as altcoins, this kind of diversification usually results in some degree of greed that fuels more speculation in the market.

Although, altcoin season usually ends after the first thrust, with Bitcoin retracing mildly. What it does reflect, though, is the cyclicality within the cryptocurrency market, and more precisely, what it underpins is the necessity for awareness of investor sentiment and market mechanics.

Reaction from market participants to the second half of this weekend cycle will be important to observe. For one, if more speculative interest IN the altcoins is seen, that in itself might be a sign of moving to the third phase. The speculative activity may in itself have the potential to be explosive and could be yet another sign that this could be the final phase of the cycle, the one in which volatility and market dynamics soar.

Turning to Bitcoin’s current status, the price reads at $48,115, and trading volume stood at $35.70 billion over 24 hours, with a market capitalization of $944.27 billion. With a slight dip of -0.12% in the last 24 hours, Bitcoin has rallied by almost 13% over the previous week.

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

Further, Santiment indicated that the recent spike in Bitcoin’s trading volume has surged to a four-week high. This surge in trading volume coincided with the recent price frenzy, further underscoring the heightened activity and interest surrounding Bitcoin in the market.

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Source: X

In contrast, the enormous surge of trading volume in Bitcoin has left most other cryptocurrencies largely dormant. Cryptocurrency analysts have also indicated that such a demand shift is likely to be one of the general points driving Ethereum’s price at this point and its market outlook.

For instance, one analyst, Dann Crypto, revealed an observation that the performance of Ethereum could be influenced by the performance of Bitcoin after the launch of the ETF. Moreover, market sentiments towards Bitcoin are expected to reverberate through to the performance of Grayscale’s ETHE holdings. Hence a successful performance by Bitcoin is expected to positively reverberate across the market dynamics of Ethereum.

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Source: X

According to the analysis by Bitunix, a crypto derivatives exchange, Ethereum, recently skyrocketed to reach a crucial high price, breaking the huge resistance barrier set at $2,456. This may open the way for a re-test on this level in return, confirmation opportunities before the digital asset goes to the upside towards the target range indicated.

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Source: X

Moreover, the prevailing market pattern has undergone a notable transformation, transitioning to a fully bullish stance. This shift is further substantiated by the impending culmination of an Elliott Wave cycle, suggesting a favorable environment for Ethereum’s continued upward momentum.

Currently, the price of Ethereum stands at $2,500.58, with a 24-hour trading volume of $11.04 billion and a market capitalization of $300.49 billion. While Ethereum experienced a decrease of -1.44% in the last 24 hours, it is up by 9% on the weekly chart.

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

Related Reading |  Ethereum Poised For Scalability Boost With Dencun Upgrade & Edolus Release