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% to a current valuation of $2.56 trillion.
This decline is reflected in major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), NEAR, and Celestia (TIA), which have all experienced a noticeable drop 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 seen a 1.1% decrease in the past 24 hours. This decline is part of a week-long downtrend of nearly 7%, bringing BTC’s price below $67,000. Technical analysis suggests that Bitcoin may continue to fall until it finds major support for a potential rebound.
Ethereum (ETH), the second largest cryptocurrency, has also experienced a decline of 7.8% in the past week. However, over the last 24 hours, ETH has shown signs of a modest 0.6% increase, signaling a potential rebound. Technical analysis indicates that Ethereum could see a temporary uptick before continuing its downtrend.
Solana (SOL) has seen a 2.4% decline in the past 24 hours, adding to its weekly losses of 13.6%. With its current price at $148.67, Solana may continue to decline until it reaches significant demand levels that could trigger a rebound.
NEAR, ranked 20th by market capitalization, has experienced a 3.4% decline in the past 24 hours, continuing a week-long downtrend of nearly 20%. Technical analysis suggests that NEAR may see further price drops until it breaks a notable swing low around the $4.3 price level.
Celestia’s native token TIA has dropped by 1.5% in the past 24 hours and 24.6% in the past 7 days, trading at $7.97. Technical analysis shows that TIA is approaching a major swing low on the 8-hour chart, indicating a potential rebound once this level is reached.
It is important to note that the information provided in this article is for educational purposes only and should not be considered as financial advice. Investors are advised to conduct their own research and assess their financial situation before making any investment decisions.