Cryptocurrency Price Analysis – week 12 and YTD, 2021
Last week, cryptocurrency markets were mixed. While BTC and ETH were down again, altcoins posted mostly positive performance among the top 50 coins by market cap (see charts below).
Bitcoin (BTC) and Ethereum (ETH) were down -2.3% and -4.2% (versus prior week’s -2.4% and -3.5%), respectively, after getting rejected 2nd time at their ATH levels. Both dropped down to their nearest Support zones by middle of the week, then managed to rebound and close in on their ATH again.
Read our technical analysis of top coins under Curated Charts section.
Also, last week we published a video on how to find and trade airdrops.
Decentralized Finance (DeFi) – Total Value Locked (TVL) remained relatively unchanged last week at $41.1B, near its peak of $45.5B (Feb 2021) but is still up 162% YTD.
DeFi cryptocurrency prices were also relatively unchanged as total DeFi category market cap declined -4.0% last week and is up 334% YTD (i.e. ~ 4.5x).
Interestingly, in the battle of DEX-s, PancakeSwap (CAKE) was up 76.2% during the week, while Uniswap (UNI) and SushiSwap (SUSHI) were down -13.4% and -17.5%, respectively. PancakeSwap is also the best performing DeFi coin YTD 2021 with a whopping 27x gain!
Check our unique automated chart pattern recognition for fresh trading ideas. Also, during market corrections, it’s always good to revisit coins in an Uptrend but with a pullback. Our Signals Summary has this and other pre-defined filters ready for action.
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.