Bitcoin
BTC$27 686.50

-1.54%

Ethereum
ETH$1 753.83

-2.24%

Tether
USDT$1.002131

0.08%

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BNB$324.49

-3.72%

USD Coin
USDC$0.999458

0.08%

XRP
XRP$0.451417

-1.31%

Bitcoin fails to beat resistance as $40K stays out of reach into weekly close


28 Feb 2022

#Bitcoin

A dark week looms for macro markets while the weekend succeeds in providing some respite for crypto traders. Bitcoin (BTC) faced down $40,000 on Feb. 27 as hopes for the weekly close hinged on avoiding a fourth red monthly candle in a row. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making several attempts to break out of the $30,000-$40,000 corridor Sunday, all of which ended in rejection.

The pair had stayed broadly higher throughout the weekend, cutting traders some slack after a week of volatility at the hands of geopolitics and media headlines. Now, $38,500 was the level to watch for Bitcoin to close out the week and the month — failure to do so would mean a fourth straight monthly red candle. As Cointelegraph reported, bulls were spared a lower low last week, bottoming out at $34,300 versus $32,800 in January.

"Cautiously optimistic this is a short to mid-term bottom for BTC," popular trader and analyst Pentoshi continued. "I pulled my 40.3k orders (not great) and will focus higher to 41.6k for de-risking. Must flip that and there's some pretty decent upside. I am still cautious bc the macro landscape imo is anything but bullish."

Weekend stays "boring" for crypto

For crypto markets overall, however, there were few opportunities as sentiment remained very much in "wait and see" mode. Out of the top ten cryptocurrencies by market cap, none managed noticeable moves up or down over the past 24 hours.

ETH/USD traded at near $2,800, with weekly gains nonetheless approaching 6%. "Pretty boring market movements during the weekend and that’s not weird," Cointelegraph contributor Michaël van de Poppe summarized.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 72.8% 51 $27 686.50 -1.54% 12.26% $535 055 944 515 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 34 $1 753.83 -2.24% 5.65% $214 622 976 485 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.002131 0.08% -0.07% $77 601 370 004 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 77.2% 47 $324.49 -3.72% 0.92% $51 234 239 201 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $0.999458 0.08% -0.04% $34 703 015 524 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 87.2% 17 $0.451417 -1.31% 23.74% $23 000 119 507 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 62.4% 82 $0.123358 18.48% 52.30% $21 391 630 916 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 73.6% 46 $0.369965 -1.76% 12.89% $12 844 876 045 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 57 $0.075005 -1.31% 6.24% $9 950 971 303 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 71.2% 51 $1.12 -1.91% -0.94% $9 797 674 979 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 70.4% 54 $21.69 -3.00% 10.97% $8 322 389 970 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $0.999370 -0.05% -0.07% $8 058 942 746 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 74% 51 $6.17 -2.34% 2.98% $7 212 834 820 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 68.4% 58 $87.92 8.34% 11.30% $6 377 673 020 LTC 7 days price change

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