Crypto to Keep an Eye on this Week: BTC, ETH, SOL, LUNA, & COTI

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Last week has been really good for crypto, especially for the ones we spoke about in last week’s article. Bitcoin has gone up more than 10% and Mana is up by over 50%. Not just that, other coins have been performing well. However, it’ll be hard to say how long things would be going as expected. But moving forward, let’s have a look at things happening on-chain.

Bitcoin (BTC) Price Prediction

Bitcoin On-Chain

First, let’s have a look at the Long Term HODLer SOPR. SOPR pumped like hell on 1st, and looking back, the SOPR has only achieved this height just before Bitcoin starts going up again. Also, a shorter spike has been seen, just before the market is about to dip.

The number of large transactions hasn’t been significant as well. This might indicate, this might not be the local top/ top, as whales aren’t selling. The highest we saw it rise was just near the top We might still go up 👀

Discounts

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The above on-chain analysis is from the Twitter of tanjero.eth, here’s the complete thread:

On the 1D timeframe, we can see that there has been a rapid increase in BTC prices, and it is currently trading at the supply level. So if we see a movie with good volume above this holding the level of support, this may mean that buyers might be entering to make an upward push of the price for the bull run.

However, more recently, bitcoin crossed the $44,000 mark and is holding above the marked key level support, if it breaks down then we will see a further correction.

Bitcoin (Btc) Price Prediction
Bitcoin (BTC) Price Prediction

Ethereum (ETH) Price Prediction

Ethereum is an open-source, decentralized blockchain-based platform that features smart contract functionality. The Ethereum platform is best known for its cryptocurrency, ETH. However, it has gained notoriety due to its blockchain technology being used to create secure digital ledgers maintained by the public.

Vitalik Buterin founded it in 2013, and its native coin, ETH, powers it. ETH is currently trading at $3,124.28 with a market cap of 373 billion dollars and has a total supply of 119,483,908 coins, currently ranking at #2 on CoinMarketCap.

ETH bounced off the support zone on the one-day timeframe after filling the liquidity zone, breaking the resistance trend line. It has not yet given a retest, but it will follow BTC for a while now.

Ethereum/ Tether Us, 1D
Ethereum/ Tether US, 1D

Solana (SOL) Price Prediction

Solana is a blockchain platform that provides an Ethereum alternative. It is a decentralized blockchain platform that can process many transactions per second and has lower transaction fees than Ethereum. Solana is a fast-growing cryptocurrency platform that’s the fastest blockchain in the world. It also offers services from decentralized finance non-fungible tokens to web3 services.

Anatoly Yakovenko founded it in 2018, and its native coin, SOL, powers it. SOL is currently trading at $119.73 with a market cap of 37 billion dollars and has a total supply of 511,616,946 coins, currently ranking at #7 on CoinMarketCap.

On a 1D timeframe, SOL price increased after a bull run and has filled liquidity and pumped broke the trendline. It is now giving a retest.

Sol/ Tether Us, 1D
SOL/ Tether US, 1D

Terra (LUNA) Price Prediction

Terra is a public blockchain protocol that seeks to build a stablecoin-powered, fully decentralized finance ecosystem where the entire financial system can flourish. Terra provides a new digital economy infrastructure with Terra’s stablecoin protocol, oracle system, and smart contracts. Terra also has plans to make Terra accessible to the masses.

Do Kwon founded it in 2018, and its native coin, LUNA, powers it. LUNA is currently trading at $57.57 with a market cap of 23 billion dollars and has a total supply of 818,303,137 coins, currently ranking at #9 on CoinMarketCap.

On a 1-hour timeframe, LUNA formed a double top and broke below the support zone from the neckline. However, it has shown some signs of returning to give a retest.

Discounts

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Luna/ Tether Us, 1D
Luna/ Tether US, 1D

COTI (COTI) Price Prediction

COTI provides an enterprise-grade blockchain platform with unlimited potential for revolutionary fintech solutions. Among many other features, COTI offers the ability to digitalize any currency to save time and money for any organization that utilizes it. In addition, COTI provides a dispute resolution system to protect its users from fraud and errors. The goal of the COTI team is to automate and decentralize the rebasing protocol, which ensures that the token is resilient to potential failures or manipulation.

Samuel Falkon founded it in 2017, and its native coin, COTI, powers it. COTI is currently trading at $0.319 with a market cap of 334 million dollars and has a max supply of 2,000,000,000 coins, currently ranking at #172 on CoinMarketCap.

On the 1D timeframe, COTI broke the triangle towards a bearish move and will now face resistance at the triangle bottom. A double bottom is also visible.

Coti/ Tether Us, 1D
COTI/ Tether US, 1D

Closing Thoughts

The most important part of trading is discipline and patience. So, according to the above analysis, the coins we just spoke about might see some decent gains. Again, it’s your hard-earned money you’ll be investing, so Do Your Own Research before investing.

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Pratyaksh