5 Coin Weekly Forecast | BTC ETH ICP LTC PEPE

2023-05-08, 04:27

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/blog/1678268270797826871cs2.jpeg)

## 【TL; DR】
Across the past week, a majority of the assets in the top one hundred have experienced notable declines that have varied between 2 and 15%. While many have shed value in varying extremes, some assets have deviated from this trend and been privy to unprecedented price growth – this unsurprisingly includes the current top meme coin contender, PEPE. As of the 8th of May, the cryptocurrency market stands at $1.19T, a $200 million decline from the previous week, and a -0.04% decline in the past 24 hours.

## Bitcoin (BTC)
Opening the week at $29.33k, <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> endured a substantial dip below its 7-day SMA, which forced it into the $27.6k zone. This downward spiral ensued until the 2nd, BTC then began to rebound and push back up into the $28k zone. This stark increase continued throughout the week, which on the 6th allowed BTC to push through its 7-day SMA and trade at around $29.8k. BTC then began to progressively fall, which led it to close the week at around $28,795.

Having endured an immensely volatile week, BTC appears to be poised to potentially test the $30k zone once again, yet it remains possible that BTC may be swept up in the downtrend and could potentially fall further into the $27k zone. In total, BTC fell by 2.02% this past week.

![](https://gimg2.gateimg.com/image/article/16835198571791683519776_.pic.jpg)
<a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin price</a> Data (Data Courtesy of CoinMarketCap)

## Ethereum (ETH)
After last week’s waning community sentiment and poor price performance, <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> has begun to moderately rebound. After entering the week at around $1,883, ETH fell sharply below its 7-day SMA and trundled throughout the lower boundaries of the $1,800 zone. However, on the 2nd, ETH began to regain some momentum and progressively push upwards, which led it to realize a weekly high of $2,014.66 on the 6th. ETH fell from this point, yet closed the week still above its 7-day SMA at an average of $1,922.

Having deviated from the recent negative growth trajectory outlined throughout the past week, ETH appears to be geared up for a week of positive price growth. Having now pushed through the $2k resistance zone, it appears as if ETH has the potential to continue delving further into this zone and breaking free from its current horizontal trading trajectory. In total, <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> increased by 1.22% this past week.

![](https://gimg2.gateimg.com/image/article/16835198771801683519790_.pic.jpg)
<a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">eth price</a> Data (Data Courtesy of CoinMarketCap)

## Internet Computer (ICP)
Across the past quarter, ICP has been subject to substantial volatility, flinging it from between $8 and $4.7, the latter ICP has begun to near in the past week. Having started the week at $6.46, ICP immediately fell significantly below its 7-day SMA and trundled through the $6 and $5 regions respectively, which led it to bottom at around $5.55 on the 3rd. ICP began to move upward moderately on the 4th, however, on the 6th, ICP fell back to the weekly low and traded horizontally at this threshold for the remainder of the week.

Having continued the recent bearish trading trajectory, <a href="/id/price/internet-computer-icp" target="_blank" class="blog_inner_link">Internet Computer</a> appears poised for another week of decimating price performance, which could further push it toward the $5 zone, providing community sentiment and momentum fail to pick up. Across the past week, ICP has fallen by 13.23%.

![](https://gimg2.gateimg.com/image/article/16835199031811683519802_.pic.jpg)
<a href="/id/price/internet-computer-icp" target="_blank" class="blog_inner_link">icp price</a> Data (Data Courtesy of CoinMarketCap)

## Litecoin (LTC)
After a quarter of volatile price performance, <a href="/id/price/litecoin-ltc" target="_blank" class="blog_inner_link">Litecoin</a> has continued this trend throughout this past week. Entering the week at $0.88, LTC quickly fell beneath its 7-day SMA throughout the first portion of the week; however, on the 4th, LTC began to rebound and briefly spiked above its 7-day SMA. Yet, this momentum was shortlived, as it once again dipped beneath the SMA threshold, before testing it again, and then sinking again. Throughout the remainder of the week, LTC fell through the $80 zone and landed at a weekly low of $82.34. LTC began to regain some momentum which led it to close the week at around $84.

Having continued from the decimating bearish trend that has scathed LTC’s performance in recent months, it is likely that this will continue throughout the coming week considering the negative community sentiment and wider market performance. As a result, it is plausible that in the coming weeks, LTC could sink into the upper $70 zone. Across the past week, LTC fell by 5.2%.

![](https://gimg2.gateimg.com/image/article/16835199681821683519817_.pic.jpg)
<a href="/id/price/litecoin-ltc" target="_blank" class="blog_inner_link">ltc price</a> Data (Data Courtesy of CoinMarketCap)

## Pepe (PEPE)
After a bountiful surge across recent weeks that has propelled it upward by over 3000%, PEPE has continued this trend and is still vying to reach new highs amidst the price discovery zone. Entering the week at $0.0000007203, PEPE traded along a relatively horizontal trajectory before beginning to incline on the 4th. The 6th then allowed PEPE to further soar and spike to a weekly high of around $0.0000040. Since then, PEPE began to progressively decline and move closer to $0.0000025 territory. It was around this level that PEPE closed the week.

With the recent volatile uptrend having ensued, it appears as if PEPE is pushing toward the $0.00001 target zone, and that provided it can maintain its current bullish price momentum, it could realize this in the coming week and further push into price discovery. Across the past week, PEPE has increased by 320.62%.

![](https://gimg2.gateimg.com/image/article/16835199891831683519837_.pic.jpg)
PEPE Price Data (Data Courtesy of CoinMarketCap)

<div class="blog-details-info">
<div>Author:**Matthew Webster-Dowsing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

Konten

Credit Ranking

Complete Gate Post tasks to upgrade your rank