Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET

TL;DR Breakdown

  • Bitcoin retests $57,000.
  • Ethereum reached a new all-time high at $2,140.
  • DOT and UNI consolidate before another move higher.
  • VET finally breaks above $0.10.

Weekly Crypto Price Analysis this week covers some of the largest cryptocurrencies. Last week we saw the market push higher as new all-time highs were made for several top altcoins. However, Bitcoin is yet to break the previous all-time high at $62,000 as it spent most of the past week consolidating below $60,000.

Weekly Crypto Price heatmap

7-day market heatmap by Coin360

Looking at the 7-day heatmap for the market, we can see that the leader, despite some volatility throughout the week, remains relatively flat, with a small gain of 0.5 percent. Ethereum posted a solid gain of 13.5 percent as it returned above the $2,000 mark. Some of the best gains were seen for Filecoin (FIL), Binance coin (BNB), Polkadot (DOT), and Tron(TRX).

Weekly Crypto Price Prediction: markets set to continue rallying this week

Weekly Crypto Price Analysis this week covers BTC, ETH, DOT, UNI, and VET. Let`s look at how these cryptocurrencies performed last week and the price prediction for each of them next week.

BTC/USD 

Bitcoin spent most of the week consolidating below the $60,000 mark after several bullish days slowly pushed the market higher. BTC/USD retested $58,000 support several times until a break lower was finally made on the 3rd of April.

After the crypto price action briefly moved below the next support at $57,000, the market rejected further downside. This resulted in another retest of $58,000, which now served as a resistance. From there, BTC price made another small retracement overnight, with support found at the $57,000 mark again. 

Therefore, we are bullish for BTC/USD next week. As soon as the crypto price returns above $58,000 minor resistance, we are likely to see a quick move higher towards the $60,000 mark. Once this psychologically round number is broken, we expect BTC/USD to quickly push to break the current all-time high at $62,000.

Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET 1

BTC/USD 4-hour chart. Source: TradingView

ETH/USD 

Ethereum has moved significantly higher this week as the market finally broke the previous all-time high and rallied towards $2,140. Over the past days, ETH/USD has started to consolidate in an increasingly tighter range. 

After briefly moving below $2,000, the market made an attempt to move higher unsuccessfully and further price momentum was stopped at $2,080. Overnight, the crypto price moved to retest the $2,000 mark once again. However, bulls quickly picked up any selling pressure, and the price moved higher again.

Therefore, we are still bullish for ETH/USD for this week as no signs for the medium-term trend reversal can be seen. Once Ethereum can move above the $2,080 mark again, we expect further highs set later this week. 

Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET 2

ETH/USD 4-hour chart. Source: TradingView

DOT/USD 

Polkadot also performed great last week. After finding support at the $28 mark on the 25th of March, the crypto price action turned bullish again, leading to a more than week-long rally towards the $40 resistance. 

On the 2nd of April, DOT/USD reached the $40 mark and, after minor correction, made a strong push higher until the all-time high of $42 was breached. The bullish rally continued over the next hours until a new all-time high was set at $46.74.

Over the past few days, Polkadot price started to retrace, forming a descending flag pattern slowly. Earlier today, the market looked to retest the $41 mark, at which the market set a higher local low. However, as soon as the $42 mark was reached, bulls took over any further selling pressure and quickly pushed the price higher.

Therefore, we are bullish for DOT/USD for this week. As soon as the market momentum pushed the price above the $45 mark, we should see another rally higher.

Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET 3

DOT/USD 4-hour chart. Source: TradingView

UNI/USD 

Uniswap is one of the few major altcoins that is yet to make its move. UNI/USD has spent the past two weeks slowly setting higher highs and lows, with the $30 mark breached on Friday. The market peaked just above $32 and immediately reversed to set another higher low at $29, indicating that the several-week bullish momentum is slowly increasing.

Over the past days, the crypto price has remained relatively calm as it set a slightly higher low at $30 support. Therefore, we should see another push higher later this week, with the first target to break being the $32 level.

From there, UNI could quickly spike towards the next resistance area around $35-$36, where the market previously set an all-time high after several rejections. Overall, we are very bullish for UNI/USD this week.

Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET 4

UNI/USD 4-hour chart. Source: TradingView

VET/USD 

VeChain has spent most of the week preparing to break the $0.10 mark. After setting a slightly higher high above $0.095 over the weekend, the market reversed and established another higher low, around $0.087.

After further downside was rejected, VET/USD returned above $0.090 and consolidated above it for the past 24 hours. Another retest of $0.095 was quickly made and met with rejection. However, after another slight dip, VET started to push higher today. The $0.095 and $0.099 resistances were broken without much hesitation, and a new all-time high was set.

Currently, the market has peaked just below $0.0106, as it has finally reached above the long-awaited $0.10 crypto price target. Therefore, we are likely to see some retracement during the first half of this week, after which VET/USD will likely continue pushing higher.

Weekly Crypto Price Analysis 5th Apr: BTC, ETH, DOT, UNI, VET 5

VET/USD 4-hour chart. Source: TradingView

Weekly Crypto Price Prediction: Conclusion  

Overall our Weekly Crypto Price Analysis indicates we will see bullish price action this week. Most of the market has established a clear bullish price structure and new higher highs. Therefore, we expect new all-time highs for most of the coins mentioned by the end of this week.

That is it for this week’s Weekly Crypto Price Analysis. For further reading, see our latest long-term price prediction guides for EOS, TRX, and IOTA.

To learn more about one of the most popular cryptocurrencies, see our Dogecoin price prediction and mining guide.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source: https://www.cryptopolitan.com/weekly-crypto-price-analysis-2021-04-05/