It has been an amazing ride for the crypto market over the past week as the bear cycle seems to be coming to an end.

In the past 2 weeks, The US suffered a banking crisis, which later expanded to Europe as well, and this affected the price of bitcoin at the end of that week as the asset tanked below $20,000 for the first time in two months. However, at the start of the previous week, the landscape began to change drastically.

BITCOIN

Bitcoin’s price began to gain ground daily, as a result of this it broke above $26,000 on Tuesday. After which it gave an initial retracement to $24,000, and then the cryptocurrency continued to surge once again on Thursday and Friday.

The past 48 hours brought yet another price surge. This time, BTC surged above $27,000 and was inches away from tapping the $28,000 price mark.
Finally, the $28,000 mark was breached yesterday as the price spiked through it, thus becoming its highest price tag since June 2022 as the cryptocurrency reached a 9-month high.

ETHEREUM

We saw the market sentiment completely shift in the previous week, as the bulls took full control of the price action. ETH was the best performer among the ALTS as it rallied by 21%. This spectacular surged allowed it to break above the key resistance level at $1,660, which has now turned into support level.

With the uptrend clearly in full swing, ETH can reach $2,000, which is a key resistance level. The momentum indicators are bullish, and there is no sign of stopping just yet. Those looking to short already paid an expensive price, and for this reason, the bears are absent at this time.

CARDANO (ADA)

Cardano registered a 10% price increase as its downtrend came to an abrupt stop last week. Which is a significant change in the price action that was on a bearish trend 2 weeks ago.

The key resistance at 35 cents may not hold the price down for long, with the buyers fully on the offensive and a breakout can be expected in the next few days. Should that happen, then the most significant level on the chart will be the key resistance at 42 cents.

Binance Coin (BNB)

As soon as the intention to buy BNB using its industry recovery fund worth $1 billion was announced by Binance the price did not waste any time and began to rally, as it surged to a 20% increase last week.

At the time of this writing, Binance Coin is below the key resistance at $346. Price was sharply rejected the last time it visited this level. However, another attempt may turn this level into support and pave the way for higher prices.

Looking ahead, BNB is clearly bullish on its outlook, and this latest news from Binance has discouraged the bears as they are nowhere to be found.

We have all of this and more covered in the crypto insight which helped traders make the most out of the market in the past week. As you prepare to go into the new week, it will do you a lot of good to check out this insight on the channel and update yourself on the long-term perspective of the market. Do well to watch, like, subscribe, and also turn on post notifications.

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