A week marked by ups and downs for some of the altcoins with new all-time highs, including Ethereum, which reached $2,150 for the first time.
Despite these records, the week is coming to an end without the right confirmations needed to kick off the new monthly cycle.
At the moment they are not supporting the trend of the last few days, thus creating a general uncertainty that contributes to the drop in volatility to the lows of the last 5 months.
For the first time bitcoin, after six consecutive days with volumes below $10 billion, the longest streak since the beginning of the year, closed the day with trades reaching $11 billion.
Ethereum continues to trade with daily volumes under $7 billion.
During the course of the week, the total capitalization attempted unsuccessfully to break the $2 trillion mark several times.
Bitcoin’s dominance fluctuates above and below 55%, the lowest level in six months. It is an indication that marks the start of the new altseason while currently lacks the necessary confirmations to give the official start. Confirmation must come within the next few days so as not to risk a reversal of both trend and sentiment.
XRP made a strong comeback this week, ending the week up more than 75%, the best performance of the top 60 coins. Ripple climbed back above $1.10 after more than three years.
The day saw the best gains of the tokens protagonists of the entire week. One of the best risers today was Binance Coin (BNB), which rose 6% to a new all-time high of $424.
Enjin Coin (ENJ) has also risen more than 20% from yesterday’s levels, posting a gain and a weekly performance of more than 40%.
The overall strong performance brings DeFi’s total value locked to an all-time high of over $51.3 billion.
Compound consolidated its position as the project with the highest level of locked collateral, a position it took during the week after several months of unchallenged leadership by Maker.
In the last 24 hours, Aave, another lending and financing project regained third place in the DeFi protocol ranking.
Despite the uncertain movement which has characterized the price of Bitcoin since the beginning of April, the holding of the lows of this first full week of April, the $55,600 area, a level which coincides with the dynamic bullish support, provides the only signal which currently supports the holding of the bullish trend which began at the end of January.
Over the weekend, it will be necessary to confirm the holding of the lows, given that a break in a phase with low trading volumes could provoke speculative downward movements.
Ethereum (ETH) in search of new all-time highs
For Ethereum, it will be necessary to confirm the breaking of the technical and psychological threshold of $2,000 with a weekly closing above this level. Unlike Bitcoin, the week for Ethereum marks the start of a new monthly cycle. Already in the coming days, it will be necessary to find confirmations, with new historical highs.