Weekly Analysis: BTC, ETH, ETC, TIA, ARB

14.01.2024

Bitcoin price analysis

Bitcoin (BTC) has had a volatile week as it failed to register gains from its previous seven-day price amid the approval of Spot Bitcoin ETFs that saw the crypto king surpass $48K during the week before facing corrections. As of press time, the Bitcoin price stood at $42.8K, representing a drop of 3.5% in the last seven days. The market cap stood at $838 billion.

Looking at weekly charts, the Relative Strength Index indicator is now moving south as it approaches an exit from the overbought region, showing bearishness on the crypto king. The MACD indicator is also reverting towards the red zone, showing fading bullishness as the Bitcoin price could plunge in the long term.

BTC 1-week chart | Source: TradingView

Ethereum price analysis

Ethereum (ETH) bulls rode the ETF narrative over the week to record impressive stats as the markets now anticipate the Ether ETF approvals next. As of press time, the Ethereum price stood at $2533, representing a 12% pump in the last seven days. The market cap stood at $304 billion.

Looking at weekly charts, the Relative Strength Index indicator is moving north as it approaches an entry into the overbought region, showing bull dominance on the Ethereum price. The MACD indicator is also in the green zone, showing bull dominance the Ethereum price over the week.

ETH 1-week chart | Source: TradingView

Ethereum Classic price analysis

Ethereum Classic (ETC) is this week’s top gainer as it rode ETH’s pump. As of press time, the Ethereum Classic price stood at $27.91, representing a 40.4% pump in the last seven days. The market cap stood at $4 billion.

Looking at 7-day ETC/BTC charts, the Relative Strength Index indicator is moving north as it approaches an entry into the overbought region, showing bull dominance on the Ethereum Classic price. The MACD indicator is also in the green zone, showing bull dominance the Ethereum Classic price over the week.

ETC 1-week chart | Source: TradingView

Celestia price analysis

Celestia (TIA) is another token that saw massive gains amid the ETF news over the week. As of press time, the Celestia price stood at $19.59, representing a 29.8% pump in the last seven days. The market cap stood at $3 billion.

Celestia has maintained its pump to record a 12% increase in the last 24 hours. However, TIA could now face correction risks as bulls might look to dump for profits amid the strong bull resilience on the token over the period, which now seems to be fading quickly.

TIA 1-week chart | Source: CoinMarketCap

Arbitrum Classic price analysis

Arbitrum (ARB) is our last top gainer of the week. As of press time, the Arbitrum price stood at $2.13, representing a 14.9% pump in the last seven days. The market cap stood at $2.7 billion.

Looking at 7-day ARB/USDT charts, the Relative Strength Index indicator moves north as it enters the overbought region, showing bull dominance on the arbitrum price. The MACD indicator is also in the green zone, showing bull dominance the Arbitrum Classic price over the week.