The cryptocurrency market is witnessing a surge in momentum as prominent cryptocurrencies such as Bitcoin, Ethereum, and Solana are experiencing gradual price increases. This positive trend is reflected in the overall market valuation, which now stands at $2.75 trillion, showing a 1.3% growth over the past 24 hours.
Despite this overall growth, trading volumes have slightly decreased, falling by more than $10 billion and settling below the $80 billion mark observed yesterday.
Performance of Major Cryptocurrencies:
Bitcoin (BTC)
Bitcoin appears to be preparing for a potential rally after a period of consolidation. The leading cryptocurrency is currently trading at around $70,887, marking a 2.6% increase since yesterday.
This follows a brief retreat from its peak of $71,000 within the last 24 hours. However, there are challenges ahead, as Bitcoin faces significant resistance at the $71,600 level. Surpassing this barrier could indicate the beginning of a major upward movement, potentially retesting its previous high of over $73,000 in March.
Ethereum (ETH)
Ethereum closely mirrors Bitcoin’s movements. After consolidating below $3,800, it has risen to $3,827, showing a 1.4% increase in the past day. Similar to Bitcoin, Ethereum must overcome crucial resistance levels before any significant bullish momentum can be confirmed.
Solana (SOL)
Solana continues to impress, as its price surges to $168, showing a 3.2% increase in the last 24 hours and a 0.7% increase over the past week.
The cryptocurrency has been navigating through a complex market structure, indicating the potential for further gains if it can maintain its current momentum and break the $171 mark.
DUSK
DUSK, although smaller in market capitalization, has demonstrated remarkable growth, rising over 10% in the last 24 hours to $0.4654. This surge is attributed to strong demand at key levels on the chart, indicating a robust market response.
COTI
Meanwhile, COTI has reached $0.1459, becoming the top performer in this review with a 6.9% increase in a day and a total of 7.6% over the week. Like its counterparts, COTI must navigate upcoming resistance levels to sustain its upward trajectory.
