5 Coin Weekly Forecast | BTC ETH LTC SOL BCH

2023-07-24, 03:06

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/blog/1678268270797826871cs2.jpeg)
## TL；DR
The cryptocurrency market witnessed mixed price movements for key tokens in the past week. <a href="/vi/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (BTC), <a href="/vi/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> (ETH), <a href="/vi/price/litecoin-ltc" target="_blank" class="blog_inner_link">Litecoin</a> (LTC), <a href="/vi/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> (SOL), and <a href="/vi/price/bitcoin-cash-bch" target="_blank" class="blog_inner_link">Bitcoin Cash</a> (BCH) experienced varying degrees of volatility, resulting in a dynamic market environment. Let’s explore the price performance of each asset, analyze the factors influencing their trends, and examine the predictions based on expert analysis and market dynamics.

## Bitcoin (BTC)
Bitcoin fell from its highest price of $30.40K to its lowest price of $29.68K this week, closing at $29,90K, a decrease of approximately 1.6%. Relatively speaking, BTC has been consolidating within a certain range, with bulls and bears vying for control. The key support level of $30,000 BTC remains important for the current market. Bitcoin is currently in a market stage where upward and downward trends are intertwined for a long time. Whether bearish or bullish, investors have the opportunity to profit in the current market. However, if Bitcoin returns to the level of $31,200, the probability of further bullish sentiment in the future market will increase significantly.
![](https://gimg2.gateimg.com/image/article/16901678665211690167597_.pic.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum (ETH)
Ethereum fell by about 3.1% in the past week and closed at $1877 this week. The token tested the key price of about $1890. After falling more than this range, Ethereum faced greater downward pressure. If traders want to regain their bullish outlook, breaking through $1,900 again is a crucial resistance level. Once this level is exceeded, there is a potential probability of breaking through to over $2,000.
![](https://gimg2.gateimg.com/image/article/16901678955221690167607_.pic.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Litecoin (LTC)
Litecoin has experienced severe fluctuations in the past week, and it closed at $92.3 this week, down about 3%. The repeatedly falling and rising price fluctuations actually indicate that LTC has entered a relatively stable cycle stage. LTC is continuously welcomed by investors and users, entering a long-term optimistic outlook cycle. However, the hardness brought about by the halving of its output a few days ago will still exist more or less. It is suggested to keep an eye on the overall market dynamics. LTC will not have too many unexpected situations in the short term.
![](https://gimg2.gateimg.com/image/article/16901679135231690167623_.pic.jpg)
LTC Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
After experiencing earlier gains, Solana entered a downward cycle this week and ultimately fell by about 11%, closing at $24.8 this week. It is obvious that the recent actions of the Solana ecosystem have had a smaller impact on the currency price, and the price performance of SOL has begun to show a short-term downward trend, but there is a high probability that it will further decline. If it does not fall below $20, SOL may remain in the current price range for a long time.
![](https://gimg2.gateimg.com/image/article/16901679285241690167635_.pic.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## Bitcoin Cash (BCH)
Bitcoin Cash fell about 3% this week to close at around $249. The price trend of BCH is mostly influenced by market sentiment. In addition to being released by some users' selling at the beginning of this week, which caused some disruption to the price, it quickly returned to the range of around $250. However, the price trend of BCH can closely reflect the market dynamics, which is worthy of long-term attention.
![](https://gimg2.gateimg.com/image/article/16901679455251690167647_.pic.jpg)
BCH Price Data (Data Courtesy of CoinMarketCap)

## What is to come?
The weekly price performance of BTC, ETH, LTC, SOL, and BCH consistently shows a downward trend. In the absence of clear market sentiment and prospects, it is recommended to temporarily consider a wait-and-see situation and not recommend further bullish behavior for at least one or two weeks in the short term.

<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>

Chia sẻ

Содержимое

Credit Ranking

Complete Gate Post tasks to upgrade your rank