5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

2024-06-11, 06:53

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![](https://gimg2.gateimg.com/image/article/1690791888top5cryptoprediction.jpeg)
## TL；DR
Last week, the overall crypto market showed a volatile trend with most mainstream coins experiencing a rise followed by a fall. The total market value of the crypto market remained within a relatively small range, with several mainstream top coins experiencing a significant upward trend since the beginning of the week. However, as we entered the weekend closing period, with large-scale liquidation across the entire network, the market began to experience a short-term rapid decline, and the total amount of funds in the market returned to the range of one week's opening period. After the sharp decline, the market gradually tended to a temporary sideways trend, and the current market sentiment remains around 61. The BTC price remained around $69,730 during the weekend, with a greater drop in ETH, reaching around $3,700, indicating a relatively stable market trend. The market value slightly increased compared to last week's period, which was around $2.55 trillion. The weekly market trends of several key coins are mainly characterized by slight fluctuations, excluding significant increases in BNB prices. At present, the top five cryptocurrencies in the total market value of the crypto market are still <a href="/pt/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (BTC), <a href="/pt/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> (ETH), Binance (<a href="/pt/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>), <a href="/pt/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> (SOL), and Ripple (<a href="/pt/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a>).

In the past week, the price trends of the five major coins primarily showed a rapid upward trend since the beginning of the week and a rapid downward trend towards the weekend. Currently, the price changes are stabilizing. 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 rose by about 3.16% this week and is currently closing around $69,730. The overall price change within the week is mainly characterized by rapid fluctuations and subsequent rapid declines at the beginning of the week. Although there was a significant price correction near the weekend closing period, the BTC price did not fall below the $68,000 level as before, but instead remained fluctuating around $70,000. It is highly likely that there will be another significant upward trend in the future. The high point of the coin's weekly price is $71,872, while the low point is around $67,600 during the opening period.

Analysis suggests that the recent price trend of BTC is mainly due to fluctuations in the market cycle, and in the past week, it was impacted by large-scale market liquidation, and the price was not able to continue to rise above the $72,000 level. At present, the BTC price is in a downward trend, with the coin price briefly falling below the $70,000 level and showing a certain recovery trend. Overall, BTC is currently in a recent fluctuation cycle, and the overall coin price showed a continuous fluctuation trend. The price increase is likely to remain relatively small in the short term. The probability of the coin breaking through $71,000 again within the next week is relatively high.
![](https://gimg2.gateimg.com/image/article/17180886031.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum（ETH）
ETH fell 1.54% this week and closed at nearly $3,700. The weekly price trend of ETH is similar to that of BTC, and the two maintain a strong correlation, both of which follow the adjustment trend of the market cycle fluctuations. After experiencing consecutive intraday fluctuations and upward trends, ETH entered the weekend closing period and saw a rapid price decline, with a greater magnitude than BTC. In the short term, the ETH price is still difficult to break through the key price range of $4,000 quickly, and it is more likely to continue to fluctuate in the price range of $3,700-3,900. The peak price of this coin for a week is around $3,880 during the mid-week period, approaching $3,900. The low point appeared around $3,659 during the rapid decline period, and the overall trend of the week was volatile.

Analysis suggests that the price of ETH will mainly rise and then fall this week, and the coin price will be greatly affected by the overall market fluctuations. Currently, there will be a significant increase in ETH prices in the future, but the probability of being impacted by the news will be higher.
![](https://gimg2.gateimg.com/image/article/17180886752.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Binance（BNB）
BNB rose 13.38% this week and closed near $678. The weekly price trend of BNB was mainly influenced by the rapid fluctuations in market transactions, and the dynamic of the Binance platform in the week jointly drove the rise of the coin price. The <a href="/pt/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB price</a> experienced a rapid increase with the overall market since the beginning of the week. In the closing period near the weekend, there were significant market fluctuations, and the trading volume quickly increased in the short term. Although the BNB price declined, it remained within a relatively high price range. Although it fell below the $700 price level, there is still a good overall increase compared to the opening period. The high point of the coin's weekly price is around $717, while the low point is around $597 during the opening period.

Analysis suggests that the weekly price fluctuations of BNB mainly follow the market's overall fluctuation cycle. However, with the rapid decline in the crypto market this week, this drove up the market's trading volume. With the increase in trading turnover frequency, although BNB prices fell, the magnitude is moderate and controlled within a relatively small area. It is expected that the coin will experience a slight upward trend next week, breaking through the key price of $700 but with a high probability.
![](https://gimg2.gateimg.com/image/article/17180886903.jpg)
BNB Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
SOL fell 0.09% this week and closed near $162. The price trend of SOL within a week also follows the overall market fluctuations, and the price curve showed a rapid upward trend since the beginning of the week. In the near weekend period, there is a sharp drop in price with the market. As of the weekend closing period, the price of this coin basically returned to the opening period price. The high point of the coin's weekly price is around $175, while the low point is around $157. Currently, the opening and closing prices are similar.

Analysis suggests that the price of SOL will generally follow the overall market trend this week, similar to the weekly rise and fall trend of most mainstream coins. However, the closing price of SOL this week basically retreated to a range close to the opening price, and passed the period of rapid decline in the lowest price. Currently, there is a certain upward trend. At present, it is highly likely that the coin will rise in the future, but according to the recent market volatility cycle, the coin will continue to fluctuate in the range of $160 to $170 in the short term.
![](https://gimg2.gateimg.com/image/article/17180887094.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## Ripple（XRP）
XRP fell 2.86% this week and closed near $0.4974. The price of XRP showed a slight fluctuation since the opening period this week. After a rapid decline in the market, the price of XRP showed a significant downward trend, mainly characterized by a rapid decline in the short term. After entering the weekend closing period, although XRP prices rebounded slightly, they remained within the range of $0.49-$0.50 with slight fluctuations. The high point of the coin's weekly price is around $0.53 at the beginning of the week, and the low point is around $0.4753 during the period of rapid decline.

Analysis suggests that the <a href="/pt/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP price</a> was impacted by news factors earlier, with a sustained fluctuation above $0.51. However, this week, due to overall market fluctuations, the price experienced a rapid drop below $0.5. Presently, it seems that the coin entered a new price range and continues to fluctuate slightly. This trend is likely to continue for a period of time, and it will still take time for the XRP price to return above the $0.5 price level in the short term.
![](https://gimg2.gateimg.com/image/article/17180887385.jpg)
XRP Price Data (Data Courtesy of CoinMarketCap)

## What is to Come?
This week, the prices of BTC, ETH, BNB, SOL, and XRP showed significant fluctuations compared to the same period last week. Although most mainstream coins showed significant upward trends before the market downturn. Except for BNB, the prices of most mainstream coins generally rebounded after a sharp decline, but most of them still show slight fluctuations compared to the opening price. The probability of a slight fluctuation in the mainstream market in the following week is relatively high. The price trends of several mainstream coins in the short term was 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:**Carl Y.**, 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>

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