Top 5 Cryptocurrencies Regain Momentum As Bitcoin Hits $68K, What’s Next?
The post Top 5 Cryptocurrencies Regain Momentum As Bitcoin Hits $68K, What’s Next? appeared on BitcoinEthereumNews.com.
With the ongoing Bitcoin Conference 2024, the market leader, BTC price has successfully reclaimed the $68K market with a market capitalization of $1.34 Trillion and a dominance of 55.4%. Resulting to this, top altcoins have recorded a significant rise in their sentiments, highlighting increased buying and selling pressure in the crypto space. With the rising volatility in the market, will the top five cryptocurrencies break out of their important resistance level and record a new all-time high (ATH) during the upcoming crypto bull run? Bitcoin (BTC) Price Action: With a jump of 1.26% within the past 24 hours and a trading volume of $24.125 Billion and 2.46% over the past week, the market leader, Bitcoin price has successfully retested its support trendline of the ascending channel pattern. Further, with a jump of over 11% within the past 30 days, the star crypto has recorded increased bullish sentiment. TradingView: BTC/USDT The Simple Moving Average (SMA) constantly acts as a support to the price chart in the 1D time frame. However, the MACD indicator has displayed a constant decline in the green histogram with its averages displaying a neutral trend. This highlights uncertainty in future price action. If the market continues to trade under a bullish sentiment, the BTC price will prepare to test its ATH of $73,750.07 during the upcoming weeks. Conversely, a bearish reversal could result in the Bitcoin price plunging toward its support trendline of the channel pattern. Ethereum (ETH) Price Analysis: Despite recording a jump of 1.05% over the past 24 hours, the Ethereum price has lost 6.22% over the past week. Furthermore, the altcoin leader, ETH price has dropped 3.85% over the past 30 days, highlighting a strong bearish sentiment for it in the crypto space. TradingView: ETH/USDT The Moving Average Convergence Divergence (MACD) has constantly risen…
Filed under: News - @ July 27, 2024 1:26 pm