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

5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

01 January 17:19

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![](https://gimg2.gateimg.com/image/article/1690791888top5cryptoprediction.jpeg)
## TL；DR
Over the past week, the overall crypto market has been experiencing cyclical fluctuations, with several key mainstream currencies exhibiting varying trends. Except for ETH and <a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>, which have shown clear upward performance throughout the week, most other mainstream currencies have shown a fluctuating downward trend. However, as the closing period approaches, the trends of various mainstream currencies have also tended to be relatively stable. Overall, the market will continue to fluctuate in the short term, and there is no possibility of a significant pullback in the long term. Moreover, the market is about to enter Q1 2024, and the foreseeable hot topic of ETF approval should once again drive up the market value of related currencies. At present, the total amount of funds in the crypto market has experienced a certain decline this week, falling to around $1.66 trillion, and the fluctuation is not significant. At present, the top five cryptocurrencies in the total market value of the crypto market are <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), HarmonyBinance (BNB), <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 Friday, major currencies have shown a fluctuating trend with varying amplitudes. This week, BNB triggered a key node, and the upward recovery of currency prices caused by platform actions is very obvious. BNB currency prices have broken through the key price level of $320. In terms of other mainstream currencies, the upward trend of ETH is also quite obvious, breaking through the key price of $2,400 within a week, but then entering a slight correction state. 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 has fallen by about 2.90% this week and is currently closing around $42,454. The daily trend has been volatile over the course of the week, showing an overall downward trend. Bitcoin reached its highest point of $43,770 this week, with a slight decrease compared to last week's high point. However, it still remains in the price range of $43,000 to $44,000 with slight fluctuations, and is still in the same market cycle fluctuation stage. There is a high probability that BTC will continue to fluctuate in the current price range for a period of time in the future.

Analysis suggests that although the price trend of Bitcoin within a week has shown significant downward fluctuations, it is still in the current market cycle with intense intraday fluctuations. However, the price support level of $41,500 is still relatively strong. This week, due to the concentration of market hotspots on other secondary currency projects, Bitcoin's largest ETF spot hotspot is expected to make breakthrough progress in Q1 2024, which will provide good bullish support for the currency. At present, the fluctuation cycle of Bitcoin is still ongoing, and in the short term, Bitcoin will maintain its current price range as the main trend.

![](https://gimg2.gateimg.com/image/article/1704100540img_v3_026m_aac36e72-087b-4373-a5d7-18bfa4f5ebix.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum（ETH）
Ethereum rose 0.52% this week and closed near $2,303. The price trend of Ethereum has gone through a period of first rising and then falling this week. Currently, the coin price has retreated to the same price range as the closing period of the previous week. Although there was a slight correction in ETH this week, the high point broke through the key price level and reached $2,444, while the low point fell to around $2,193. However, the intraday trend of ETH prices has remained relatively stable for most of the week, and the coin price trend after the correction tends to remain stable.

Analysis suggests that the price of Ethereum was affected by various project actions this week, and began to experience a significant price increase in the middle of the week. After reaching a one week high, it immediately entered a volatile downward trend and failed to maintain above $2,400. After entering the closing stage, the price performance of ETH gradually tends to stabilize, basically maintaining a continuous fluctuation of $2,300, with relatively small intraday changes. Earlier, the price trend of ETH was predicted to be difficult to break through the $2,400 price range, but this week the currency did indeed break through this critical price level. Although it has been maintained for a short period of time, it can be seen that there is still significant room for the expected price increase of ETH at the current stage. Considering the foreseeable market hotspots in Q1 2024, it may be a high probability for ETH to break through the $2400 price level again, but whether it can remain above the corresponding level requires further observation.

![](https://gimg2.gateimg.com/image/article/1704100586img_v3_026m_1745c3b0-e3bf-4594-a0af-2767f5014fix.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Binance（BNB）
BNB rose 17.63% this week and closed around $317. This week, the market trend of BNB was influenced by market cycles and exchange platform actions. On the basis of last week's recovery, it experienced a strong upward trend, quickly breaking through the $300 price range from $269. The high point of the price within a week reached around $336. Although there was some subsequent adjustment, the overall market maintained a relatively stable and volatile trend, currently maintaining a small fluctuation in the $310-$320 range.

Analysis suggests that the price of BNB has experienced a significant upward trend this week, continuing the trend of last week's recovery. After the price entered above $310, it began to show a stable state, with price fluctuations tending towards stability. On the one hand, due to the impact of related cases, BNB has been in a sluggish state of price increase, and has finally overcome this influence in the near future. At the same time, with the action of the Binance platform, BNB has once again returned to its rightful market value position and price expectations. Presently, the price trend of BNB is basically maintaining a small fluctuation within the range of $310-$320, and the overall trend has entered a stable state. Considering the overall market situation in the past week, its price rise and fall in the next one or two weeks will be more affected by the overall market situation, and the price trend of the coin itself is actually more inclined towards a stable fluctuation state.
![](https://gimg2.gateimg.com/image/article/1704100624img_v3_026m_a38ac02f-5cf2-44b7-a93b-598f21b446ix.jpg)
BNB Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
SOL entered a rapid correction cycle this week, falling 10.12% within a week and closing at $103.33. The price of SOL briefly reached a high point of $124 this week, and then began to fluctuate downward. The correction trend is obvious, and the low point of the price fell below $100 within a week. However, the currency still maintains a sustained fluctuation above $100. This week, due to the trade-off between BNB and SOL, BNB once again became the third-largest crypto project in the crypto market, while SOL returned to fourth place.

Analysis suggests that SOL's performance this week is mainly based on the recent rapid rise in prices, coupled with the frequent occurrence of liquidation related to the currency within a week, resulting in significant downward fluctuations in SOL coin prices. However, in reality, various projects in the Solana ecosystem are still relatively frequent. The price decline of this currency this week is more of a normal price correction, and the current price trend of the currency is already in a relatively stable state. More attention can be paid to the hot information related to the currency in the future to determine the upward and downward trends.
![](https://gimg2.gateimg.com/image/article/1704100645img_v3_026m_21a1d872-6493-4230-9a44-4deed90e2aix.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## Ripple（XRP）
XRP fell 0.03% this week and closed near $0.6214. The price of XRP has mainly experienced rapid ups and downs this week, with relatively intense intraday fluctuations. However, during the closing period, the price of this currency fell back to the same period and range as the previous week. Within a week, the price of XRP reached a high of $0.6534, while the low point was around $0.6. The weekly price performance of this coin was affected by market cycle fluctuations, with significant price fluctuations. However, the price support performance was still good, and it did not fall below the key price level of $0.6.

Analysis shows that the market has experienced significant fluctuations this week, and the liquidity of mainstream currency projects has also improved to a certain extent. XRP has been affected by this cycle of fluctuations, and the intraday price has fluctuated more violently. Compared with other popular secondary currencies, the application attributes of XRP are still greater than the investment attributes. Therefore, its price fluctuations are also concentrated in a small range, and the price median is relatively stable. The performance of XRP in the future will still be more impacted by market fluctuations, mainly following the trend.

![](https://gimg2.gateimg.com/image/article/1704100669img_v3_026m_6341e34c-0db5-40a2-9ed0-af0a576162ix.jpg)
XRP Price Data (Data Courtesy of CoinMarketCap)

## What Is to Come
The price performance of BTC, ETH, BNB, SOL, and XRP this week has shown a clear distinction compared to last week, with different ups and downs. BNB's performance is relatively more impressive, and there may not be significant changes in the price trends of several mainstream coins in the short term. We need to wait until the key market hotspots arrive.  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>

<div class="blog-details-info">
  <div>作者：**Charles T.**，Gate.io研究员
  <div class="info-tips">\*本文仅代表作者观点，不构成任何交易建议。
  <div>\*本文内容为原创，版权为Gate.io所有，如需转载请注明作者和出处，否则将追究法律责任。
</div>

BTC/USDT + 3.09%

ETH/USDT + 2.18%

GT/USDT + 1.68%

TL；DR

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Binance（BNB）

Solana（SOL）

Ripple（XRP）

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5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

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