The global cryptocurrency market has been steadily declining since reaching a peak of $2.7 trillion in March. In the past 24 hours, the market cap has decreased by 1%, currently standing at $2.56 trillion.
This decline is reflected in major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), NEAR, and Celestia (TIA), all experiencing a noticeable dip in their prices. To understand how these assets have contributed to the overall market decline, let’s take a closer look at their performance.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has dipped by 1.1% in the past 24 hours, continuing a week-long downtrend of nearly 7%. Trading below $67,000 at $66,982 currently, BTC’s chart analysis indicates a struggle to break resistance levels and a potential continuation of the downtrend.
Ethereum (ETH), the second-largest cryptocurrency, has also seen a decline of 7.8% in the past week but has shown signs of a rebound in the last 24 hours with a modest 0.6% increase. Despite bullish momentum on the 4-hour chart, ETH is anticipated to face resistance at the $3,900 level.
Solana (SOL) experienced a temporary bullish phase in April but has since retraced, declining by 2.4% in the last 24 hours. With a technical outlook pointing towards potential support levels between $135 to $118, SOL may see a rebound to break major resistance zones.
NEAR, ranked 20th by market capitalization, has declined by 3.4% in the last 24 hours, continuing a downward trend of nearly 20%. Technical analysis suggests that NEAR may continue to drop until it breaks a significant swing low around the $4.3 price level.
Celestia (TIA), the native token of Celestia, has seen a 1.5% decline in the past 24 hours and 24.6% over the past 7 days, trading at $7.97. The asset’s chart analysis indicates a potential further decline towards a major swing low target of $7.30.
Please note that the information provided in this article is for educational purposes only and should not be considered financial advice. Investors are advised to conduct their own research and evaluate their financial situation before making any investment decisions.
