5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

2024-05-13, 06:56

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1690791888top5cryptoprediction.jpeg)
## TL；DR
In the past week, the crypto market has shown an overall trend of volatility and decline. Although there were some signs of overall recovery in the market last weekend, it only continued into mid-week. As we entered the closing stage of the weekend, the market's downward trend became more apparent. At the weekend closing stage, the overall market showed a relatively obvious sideways trend, and there was no large-scale downward trend again. Several key mainstream currencies have seen basic price fluctuations during the weekend closing phase, with BTC prices currently maintaining around $61,700 during the weekend phase and no clear signs of recovery. At present, the overall trend of the crypto market this week is basically continuing from recent times, and it is in a relatively low overall market. The market value has decreased compared to the same period last week, maintaining around $2.27 trillion. The market sentiment index is currently maintained at around 51, and the weekly performance of several top key currencies is inconsistent. At present, the top five cryptocurrencies in the total market value of the crypto market are still <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (BTC), <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> (ETH), Binance (<a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>), <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> (SOL), and Ripple (<a href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a>).

In the past week, the price trend of the five major currencies has mostly shown a slight rebound since the beginning of the week, but it has not continued for too long. In the mid-week stage, there have been more obvious fluctuations. This article will study the performance of major assets, explore the factors that affect their price trends, and conduct corresponding analysis to predict their future short-term price trends.

## Bitcoin（BTC）
BTC has fallen by about 4.25% this week and is currently closing at around $61,612. The overall weekly price fluctuation has been mainly characterized by continuous fluctuations and declines. Although there was a significant upward trend towards the end of the weekend, the overall downward trend continued for the past week. At the beginning of the week, the upward trend was more obvious, but it did not continue into the weekend market stage. For most of the week, the price of BTC remained within the range of several thousand dollars and entered the weekend stage, showing a short-term sideways trend. The high point of BTC's weekly price is $65,410, and the low end is around $60,326, which is close to the rapid decline in the weekend closing period.

Analysis suggests that the price trend of BTC within a week has continued the previous week's market trend, showing a continuous decline on this basis. Recently, the overall market has been relatively sluggish, and there is a lack of significant hot information stimulation, which makes it difficult for BTC prices to show a significant price rebound. Overall, BTC has been operating consistently above the $60,000 price level for the past week, but the daily fluctuations have been significant. The probability of maintaining such a trend in the following week is high, and it may be difficult for the coin to return above $65,000 in the short term.
![](https://gimg2.gateimg.com/image/article/17155832361.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum（ETH）
ETH fell 6.89% this week and closed near $2,936. The weekly trend of ETH coin prices has maintained a strong correlation with BTC, and the trend is consistent. Since the opening, it has rapidly declined, and towards the weekend closing period, it has ushered in a more significant decline. After a rapid decline in the market, the price of ETH has fallen below the key level of $3,000 and is still volatile. The high point of ETH's weekly price was around $3,207 during the opening period of the week, while the low end was around $3,080, which quickly fell during the week. The overall trend of the week has been volatile and downward.

Analysis suggests that the price of ETH has experienced a greater decline this week compared to BTC, and coupled with the overall sluggish market trend, as we enter the weekend closing phase, ETH prices have started to rapidly decline again as the market declines, currently hovering around $3,000. The following week's trend of ETH is likely to continue to be accompanied by sustained volatility, with a small probability of rebounding above $3,500.
![](https://gimg2.gateimg.com/image/article/17155832622.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Binance（BNB）
BNB fell 0.95% this week and closed near $598. The price trend of BNB for the week is more volatile than other mainstream currencies. Due to the current market still being in a continuous period of volatility, the price trend of BNB is more influenced by the intraday trading volume of the market. Since its opening, BNB has shown a characteristic of rapid intraday volatility, with frequent market trading during weekend periods leading to another rise. BNB's weekly price peak is around $600, while its low point is around $577.

Analysis suggests that the weekly price fluctuation of BNB is mainly influenced by market trading fluctuations. With the crypto market showing a repeated downturn this week, BNB prices have also fluctuated between $580 - $600. There is a high probability that the coin will continue to fluctuate next week, lacking support for a significant increase.
![](https://gimg2.gateimg.com/image/article/17155832813.jpg)
BNB Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
SOL fell 0.98% this week and closed near $145. The price trend of SOL within a week is much larger than that of BTC and ETH. Although affected by the overall market situation, the price of SOL experienced a rapid decline during the week but then experienced a significant rebound. After entering the weekend closing period, the price remained within a small range and continued to fluctuate. The highpoint of the coin's weekly price is around $157, while the low point drops to around $140.

Analysis suggests that the overall price of SOL was affected by the market trend this week. Still, due to the activity of various projects within the ecosystem, SOL has received relatively good price support. This has also resulted in a relatively small price impact on the coin during the week, and a significant rebound in the coin price. But after entering the weekend closing period, the sideways trend is obvious. Presently, there is no clear sign of recovery for this coin, and it is still in a fluctuating cycle overall. It is expected that the trend will continue to show a slight fluctuation next week, and there will be a certain overall rebound, with a high probability of returning to above $150.
![](https://gimg2.gateimg.com/image/article/1715589738img_v3_02ar_4e03fb86-214b-4da6-aad3-5f3b54de55ix.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## Ripple（XRP）
XRP fell 5.20% this week and closed near $0.5032. The price trend of XRP this week was mainly influenced by the news, that is, the grayscale dynamics. Afterward, it followed the overall market trend, continuously declining coin prices. Except for a certain rapid increase at the beginning of the week, the coin has fluctuated and fell most of the time. The high point of the coin's weekly price was around $0.5671 during the opening period, while the low point dropped to around $0.4995.

Analysis suggests that due to the overall market fluctuations in the crypto market, XRP prices have shown a downward trend this week, and have entered a volatile state since the rapid rise of the coin price at the beginning of the week. At present, the follow-up trend of XRP is mainly influenced by market fluctuations, and there is a high probability of a return to above $0.58 in the future.
![](https://gimg2.gateimg.com/image/article/17155833165.jpg)
XRP Price Data (Data Courtesy of CoinMarketCap)

## What is to come?
The price performance of BTC, ETH, BNB, SOL, and XRP this week is relatively frequent compared to last week, and the overall downward trend is obvious. The probability of a significant upward trend in the mainstream market in the following week is still relatively low. The price trends of several mainstream currencies in the short term have been explained separately, but the temporary impact of news factors cannot be ruled out. More accurate information needs to be obtained through daily market fluctuations.

<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<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>