The crypto market is roaring back, with Bitcoin, Ether, and altcoins on the rise. What's driving this trend, and what can we expect in the near future ? Let's delve into the latest industry trends together.
The crypto market as a whole has shown encouraging signs in recent days. Total market capitalization (TOTAL) has gained nearly $40 billion over the last 24 hours, approaching the key resistance level of $4.01 trillion. This zone represents a major obstacle to more significant short-term growth.
However, if overall market sentiment remains positive, TOTAL could manage to break through this threshold. Such a scenario would significantly strengthen investor optimism and give new momentum to the bullish trend. In this case, the next logical target would be around $4.05 trillion.
In summary, the crypto market will largely depend on Bitcoin’s ability to break through its resistance at $117,500.
Indeed, Bitcoin’s price is currently hovering around $117,000, firmly maintaining its anchor above the support level of $115,000. However, the king of cryptocurrencies faces immediate resistance at $117,261, a crucial level that must be overcome for the current bullish trend to continue in the short term.
BTC is confronting a major POC at $117,146 and the last crucial resistance zone up to $119,000. Once this threshold is crossed, BTC’s next targets are at $128,000 and $137,000.
Among the leading cryptocurrencies, MYX Finance stands out with a remarkable performance of 12% over the last 24 hours. The altcoin, priced at $11.81, is now attempting to consolidate $11.52 as a crucial support level.
Base’s memecoin Toshi also shined today with a 77% surge in just a few hours.
In conclusion, the cryptocurrency market seems to be regaining momentum, driven by Bitcoin’s solid performance and the remarkable performance of certain altcoins like MYX Finance and Toshi. It remains to be seen whether this bullish momentum can be maintained in the coming weeks as the sector continues to face key challenges.
Toshi (TOSHI), the star memecoin of the Base blockchain, shows a staggering increase of 77% in 24 hours, attracting investors with its explosive potential. Should you invest now?
For now, waiting for a drop and buying at the support level of $0.00073 remains the best choice for savvy investors. Here’s how to buy Toshi in case of a correction :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
