5 Coin Weekly Forecast | BTC ETH ADA SOL AVAX

2023-04-17, 03:14

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![](https://gimg2.gateimg.com/blog/1678268270797826871cs2.jpeg)
## 【TL; DR】
Across the past week, green candlesticks have struck almost every asset in the top 100 as a market-wide recovery appears to have embedded itself. With <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> leading the pack, soaring by almost 23%, various assets such as BTC, AVAX, ETH, and ADA have followed a similar suit, a majority of which accruing over 10% in value. As of the 17th of April, the cryptocurrency market stands at a promising $1.26T, a notable uptick from the previous week, but a moderate -0.79% decline in the past 24 hours.

## <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (BTC)
Opening the week at $28.38k, <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> endured a sharp uptick in valuation across the past week which pushed it above the $30k threshold and allowed it to test the $31k zone. On the 10th, BTC bobbed briefly below its 7-day SMA and appeared poised for a week of growth stagnation, however, the 11th disrupted this trend and pushed it to $29k in one candlestick, which was proceeded by others that pushed it to $30k – a level BTC failed to stray from in the coming days. In the days following, BTC cruised the $30k level and appeared to find a stable pierce floor in this zone, which allowed it to push to a weekly high of $30,967 and close the week at $29,894.

Having strayed from the recent volatility, BTC appears to be poised for a period of growth and progressive price recovery. As a result, it is possible that <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> could further test the $31k zone and push deeper into the $30k territory.

![](https://gimg2.gateimg.com/image/article/16817011631111681700929_.pic.jpg)
<a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin price</a> Data (Data Courtesy of CoinMarketCap)

## <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> (ETH)
Following the deployment of the <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Shanghai upgrade earlier this week, ETH has begun to massively accrue value as more investors have flocked to the asset following the ability to progressively unlock staked ETH tokens. Starting the week just below its 7-day SMA at $1,858, <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> began to move upward progressively into the lower $1,900 zone throughout the 11th and 12th. Following a brief dip across the 12th and 13th, <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> began to shoot upward on the 14th and continued this growth trajectory throughout the remainder of the week, which led it to a weekly high of $2,133.

Having continued the positive growth trajectory outlined throughout April, ETH appears to be geared up for another week of positive growth considering the lingering positive sentiment from the Shanghai upgrade. This could lead it to delve further into the $2,000 territory and allow it to establish a stable price floor. In total, <a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> rose by 11.57% this past week.

![](https://gimg2.gateimg.com/image/article/16817011841121681700945_.pic.jpg)
<a href="/id/price/ethereum-eth" target="_blank" class="blog_inner_link">eth price</a> Data (Data Courtesy of CoinMarketCap)

## <a href="/id/price/cardano-ada" target="_blank" class="blog_inner_link">Cardano</a> (ADA)
Entering the week at $0.39, ADA endured a week of immense growth, which flung it to a weekly high of $0.4597 and allowed it to test the $0.46 zone. Throughout the 11th onward <a href="/id/price/cardano-ada" target="_blank" class="blog_inner_link">Cardano</a> began to move upward into the $0.4 zone, before briefly declining and trading horizontally until the 14th. On the 14th, ADA shot up to around $0.44 and continued to shoot upward throughout the remainder of the week, which has led it to trade hands at an average of $0.453.

With this positive growth trajectory, ADA is likely to continue to remain at the $0.45 level, potentially establishing this as a price floor, which could allow it to delve further into the $0.40 zone, as a result, it could be possible that ADA will test the $0.50 threshold in the near future. Across the past week, ADA increased by 13.93%.

![](https://gimg2.gateimg.com/image/article/16817012071131681700959_.pic.jpg)
<a href="/id/price/cardano-ada" target="_blank" class="blog_inner_link">ada price</a> Data (Data Courtesy of CoinMarketCap)

## <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> (SOL)
<a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> was subject to an impressive growth streak across the past week, which led it to shoot up over 20%. With the release of the SAGA phone earlier this week paired with growing positive sentiment, <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> accelerated from $20.3 at the start of the week to around $22.50 on the 11th. This positive growth ensued throughout the remainder of the week, which has led <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> to establish $24 as its current support zone and to continually test $25.5, after reaching a weekly high of $25.45.

Having deviated from the decimating bearish trend that has scathed <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a>’s performance in recent months, SOL has begun to rebound and garner positive community sentiment. As a result, it is plausible that in the coming weeks, <a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> could push toward $30 and push closer to a period of price stability. Across the past week, SOL rose by 22.57%.

![](https://gimg2.gateimg.com/image/article/16817012301141681700974_.pic.jpg)
<a href="/id/price/solana-sol" target="_blank" class="blog_inner_link">sol price</a> Data (Data Courtesy of CoinMarketCap)

## <a href="/id/price/avalanche-avax" target="_blank" class="blog_inner_link">Avalanche</a> (AVAX)
Across the past week, <a href="/id/price/avalanche-avax" target="_blank" class="blog_inner_link">Avalanche</a> has strayed from its recent bearish trend and has begun to demonstrate key signs of price recovery. Entering the week at $17.6 and briefly dipping below its 7-day SMA, AVAX began to push upward to $18 and maintain this level until the 12th, when it began to dip once again. However, on the 13th, AVAX began to move upward at a progressive pace until it reached around $19 and began to trade horizontally. However, on the 16th AVAX shot upward to a weekly high of $20.44.

With the recent volatile downtrend appearing to have been disrupted, it appears as if AVAX is pushing toward the $21 zone, and that provided it can maintain its current bullish price momentum, it could realize this in the coming week and further deviate from its recent bearishness. Across the past week, AVAX has increased by 14.42%.

![](https://gimg2.gateimg.com/image/article/16817012461151681700984_.pic.jpg)
<a href="/id/price/avalanche-avax" target="_blank" class="blog_inner_link">avax price</a> 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>

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