The momentum in the cryptocurrency market is evident as leading digital currencies like Bitcoin, Ethereum, and Solana are experiencing gradual price increases. This upward trend is reflected in the overall market valuation, which now stands at $2.75 trillion, a 1.3% rise in the past 24 hours.
Despite this growth, trading volumes have slightly decreased, dropping by over $10 billion and settling below the $80 billion mark observed yesterday.
Here’s a look at the performance of major cryptocurrencies:
Bitcoin (BTC)
Bitcoin appears to be gearing up for a potential rally after a period of consolidation. The flagship cryptocurrency is currently trading at around $70,887, marking a 2.6% increase since yesterday.
After reaching a 24-hour peak of $71,000, Bitcoin saw a brief retreat. However, it faces a significant resistance level at $71,600. If it surpasses this barrier, it could signal the beginning of a major ascent, possibly retesting its March high of over $73,000.
Ethereum (ETH)
Ethereum is closely following Bitcoin’s movements. After consolidating below $3,800, it has climbed to $3,827, a 1.4% increase in the past day. Similar to Bitcoin, Ethereum also faces obstacles ahead, with critical resistance levels that need to be overcome before any significant bullish momentum can be confirmed.
Solana (SOL)
Solana continues to impress with a price surge to $168, showing a 3.2% increase in the past 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 breach the $171 mark.
DUSK
DUSK, although smaller in market cap, has shown 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, demonstrating a robust market response.
COTI
Meanwhile, COTI has reached $0.1459, making it 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.