The world of digital currencies is witnessing a surge in activity as major cryptocurrencies such as Bitcoin, Ethereum, and Solana are seeing incremental gains in their prices. The total market capitalization of all cryptocurrencies has reached $2.75 trillion, showing a 1.3% increase in the last 24 hours.
Although the market is on the rise, trading volumes have slightly decreased by over $10 billion, falling below the $80 billion mark from the previous day.
Bitcoin (BTC)
Bitcoin appears to be gearing up for a potential rally after a period of consolidation. The leading cryptocurrency is currently priced at around $70,887, reflecting a 2.6% increase from the previous day. While it briefly dropped from its 24-hour high of $71,000, it faces a tough road ahead with a significant resistance level at $71,600. Breaking through this barrier could signal a major uptrend, possibly revisiting its peak in March of over $73,000.
Ethereum (ETH)
Ethereum is closely following Bitcoin’s movements. After consolidating below $3,800, it has now risen to $3,827, showing a 1.4% increase in the past day. Like Bitcoin, Ethereum also encounters challenges ahead with crucial resistance levels to overcome before confirming any significant bullish momentum.
Solana (SOL)
Solana continues to impress with its price surge to $168, marking a 3.2% increase in the last 24 hours and a 0.7% increase over the past week. The cryptocurrency is navigating through a complex market structure, hinting at the potential for further gains if it can maintain its current momentum and breach the $171 mark.
DUSK
Despite its smaller market cap, DUSK has seen remarkable growth, soaring over 10% in the last 24 hours to $0.4654. This surge is due to strong demand at key levels on the chart, indicating a positive market response.
COTI
Meanwhile, COTI has climbed to $0.1459, emerging as the top performer in this analysis with a 6.9% increase in a day and a total of 7.6% over the week. Like its peers, COTI must navigate through upcoming resistance levels to sustain its upward trend.