Gate.io Blog 5 Coin Weekly Forecast | BTC ETH XRP DOGE SOL

5 Coin Weekly Forecast | BTC ETH XRP DOGE SOL

14 August 10:39

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![](https://gimg2.gateimg.com/image/article/1690791888top5cryptoprediction.jpeg)
## TL；DR
In the past week, the crypto market has been generally bullish, but mostly with minor improvements. The top five cryptocurrencies in terms of total market cap 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), Ripple (<a href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a>), <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a> (DOGE), and <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a>（SOL）, but Solana (SOL) performed well this week and is included in the price forecast.

In the past week, all five major tokens have shown an upward trend. This article will study the performance of major assets, explore the factors that affect their price trends, and conduct corresponding analyses to predict their future short-term price trends.

## Bitcoin（BTC）
Bitcoin rose 1.29% this week to close around $29,352.50. Bitcoin began to show a trend of price rebound this week. After falling below $29,000 last week, with changes in market cycles and the impact of positive news from outside the industry, the price of Bitcoin has emerged from an upward trend along with the recovery of the crypto market.

But currently, $30,000 is still a key resistance level for Bitcoin, and in the past quarter, the price of Bitcoin has repeatedly exceeded $30,000 before falling again. The current wave of price increases is likely to have a similar rate to the previous situation, which aligns with market patterns.

Analysis suggests that there has not been much change in the total value and liquidity of the entire crypto market, and the price increase this week is more influenced by conventional market cycles. The biggest problem with Bitcoin is that over half its proportion has not participated in market liquidity for over a year. Application scenarios such as BRC20 Bitcoin networks are needed to provide further liquidity for them. The recent price of Bitcoin cannot be ruled out as falling, but this also requires a comprehensive analysis based on external market information. However, looking solely at market trends, Bitcoin has yet to receive a clear signal of a sustained upward trend.
![](https://gimg2.gateimg.com/image/article/16919991816361691980538_.pic.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum（ETH）
Ethereum has risen by 1.10% this week and closed around $1,846.74 this week. Within this week, Ethereum, like Bitcoin, has shown a clear upward trend.

Although the Curve event two weeks ago had a certain impact on the Ethereum ecosystem, the entire crypto market has stopped the corresponding trend after experiencing consecutive declines. With the progress and implementation of various crypto projects this week, as well as the resolution of the Curve event, the price of Ethereum also rebounded to a high of $1,880 this week, and then began to enter a volatile cycle.

Analysis shows that although the price of Ethereum has rebounded this week and the increase was relatively good, after the initial increase, Ethereum, like Bitcoin, quickly returned to a similar volatile state as before. The key resistance level for Ethereum currently appears to be at the price level of $1,880, and it will likely break through this price in the following week and reach the price level of $1,900. However, the current increase may only be sustainable for a short time.
![](https://gimg2.gateimg.com/image/article/16919992136371691980550_.pic.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Ripple（XRP）
Ripple rose 0.42% this week and closed at $0.6286. After several consecutive weeks of profit-taking, this trend has finally stopped in recent days. XRP experienced a wave of price recovery this week but only returned to its previous price position. However, this can be understood as a positive signal.

Analysis suggests that the market application scope of the XRP itself is relatively small, and the previous price surge was mainly due to positive news from outside the market. After several consecutive weeks of price retracement, XRP is unsuitable for short-term investment. However, the rebound in prices this week is more of a manifestation of the current market cycle and cannot be used as a basis for the subsequent continuous rise of the token. However, it can be seen as the price of XRP reaching a relatively stable range, and the profit-taking process is approaching a halt. However, more market performance is needed to support this view.

However, the US SEC has occasionally sparked some market hotspots recently, and the association between XRP and it will also impact itself. This can be continuously monitored in the short term.
![](https://gimg2.gateimg.com/image/article/16919992476381691980562_.pic.jpg)
XRP Price Data (Data Courtesy of CoinMarketCap)

## Dogecoin（DOGE）
Dogecoin rose 1.38% this week to close at $0.07577. Like other tokens, the price of Dogecoin, after experiencing last week's decline, has also experienced a good price rebound this week. With positive confidence, its price has returned to the range before the previous two weeks of decline.

Presently, due to the good endorsement of Dogecoin itself, Musk himself has always been a hot topic in the crypto space, and the long-term investment value of Dogecoin is still good. Given that Twitter's various adjustments and updates are still advancing, the impact of external factors on Dogecoin is significantly higher than on other tokens.

Analysis suggests that there may be another wave of growth in Dogecoin in the near future. Compared to mainstream currencies such as Bitcoin and Ethereum, the short-term price changes will be relatively more drastic. Affected by over-the-counter factors, the overall market recovery this time may take longer for Dogecoin.
![](https://gimg2.gateimg.com/image/article/16919992646391691980572_.pic.jpg)
DOGE Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
SOL rose 5.67% this week to close at $24.48. During this week, the price of SOL showed a good increase, due not only to the cyclical recovery of the crypto market itself but also to the actions of the Solana ecosystem.

As an ecosystem with a good foundation, Solana has been promoting the implementation of various contents in this quarter, and recently has been frequently operating on LSD and DeFi track. As a result, with this wave of market recovery, SOL has seen a good rebound.

Analysis suggests that as an ecosystem governance token, the important basis for determining the price trend of SOL depends more on the specific situation of the Solana ecosystem, and involves many factors. The price trend of top funds and projects within the ecosystem can be determined based on their trends.
![](https://gimg2.gateimg.com/image/article/16919992806401691980583_.pic.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## What Is to Come?
The price performance of BTC, ETH, XRP, DOGE, and SOL this week has shown some growth compared to last week. Although the current crypto market has shown short-term growth overall, the overall liquidity and market funds have remained relatively small compared to before, and there has been no phenomenon-level content of external positive information. In addition, the market trend has entered a new oscillation cycle. If each token cannot break through the corresponding resistance level in the future, the downward trend will be more obvious.

<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>

ETH/USDT + 2.88%

BTC/USDT + 2.84%

GT/USDT + 3.00%

TL；DR

Bitcoin（BTC）

Ethereum（ETH）

Ripple（XRP）

Dogecoin（DOGE）

Solana（SOL）

What Is to Come?

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