Last week our portfolio grew by 10% and almost reached the $59,000 mark. As a result, we had to rebalance the portfolio and sell part of the CRPT, which grew significantly last week. Let’s take a look at how our portfolio has changed in 7 days:
Our portfolio continued to grow over the past week. This time it grew by almost 5% and passed the $61,000 mark. The last time we observed such values was 3.5 months ago, a week before the collapse that occurred on May, 19th. Now we see a strong upward trend in the entire market and this has a positive effect on our portfolio.
The growth leader this time was Ethereum, which grew by almost 19% in 7 days. Just yesterday, we talked about the fact that the ETH chart could soon reach $3,800 and our forecast was fully justified today. We expect to see a slight correction towards the $3,600 area. After that, the chart may turn upward again and consolidate above the $3,800 level.
XRP is in second place with a growth rate of 8.77%. This is also a pretty strong result. At the same time, XRP continues to be trapped in a falling wedge. Over the past 3 days, the price was able to approach the upper border of this figure and is now testing it. There is a high probability that the chart will be able to consolidate above $1.25 in the next 3 days. In this case, we can see a sharp jump in the XRP price all the way to $1.50.
Litecoin also showed positive growth dynamics and rose to $182. However, the coin’s chart continues to be squeezed in the $170 – $186 range. Moreover, the price has broken the uptrend down and is now trying to turn up. Based on this, already in the current movement, LTC can grow to $192 – $194. It is at this level that the further direction of movement of the coin will be decided.
Bitcoin continues to move sideways and the 3.16% rally should not mislead you. The chart of the first cryptocurrency has been moving in the range of $46,800 – $49,700 for 2 weeks. At the same time, the trading volumes remain practically unchanged, which adds uncertainty to the current market situation. Nevertheless, we believe that the likelihood of a fall in the price of the first cryptocurrency remains. The first mark to which the chart may drop is $45,500.
CRPT has lost 10% of its value this time. Looking at the chart, you can see that this is a correction after rapid growth of 40%. Many indicators have already moved down to the oversold line and have prerequisites for an upward reversal. Overall, the coin is in a clear uptrend right now, so it’s best to follow it. Around the $0.18 level, we saw strong support and good reaction from buyers who are holding this level. All this together gives prerequisites for further growth to the level of $0.225.
The shares of coins in our portfolio have changed slightly and are within acceptable limits, so we will not be rebalancing this week.
The past week was positive for the cryptocurrency market. Many assets have shown significant growth. Ethereum stands out the most, showing strong dynamics due to the strong excitement around the NFT sector. But with all this, the preconditions for a decline in the entire market still persist, so you need to be extremely careful.