Can the current market bounceback transform into mid-term growth?
The weekend has begun with the continued rise of the cryptocurrency market as all of the top 10 coins are in the green zone.
BTC/USD
Bitcoin (BTC) keeps rising after the breakout of the $41,000 mark. It has risen by 3.60% over the last 24 hours.
Bitcoin (BTC) is approaching the resistance level at $45,854 on the daily chart, which means that bulls might have accumulated enough power for a breakout. If that happens and the daily candle fixes above the $46,000 mark, one can expect further growth to another level at $52,000 soon.
Bitcoin is trading at $41,883 at press time.
ETH/USD
Ethereum (ETH) has gained more than Bitcoin (BTC) with a rise of 5.40%.
From the technical point of view, Ethereum (ETH) is trading similarly to BTC as it is also about to break the resistance level. Buyers need to get to the vital $3,000 mark to keep the mid-term growth going.
Moreover, the buying trading volume is rising, confirming bulls’ power.
Ethereum is trading at $2,950 at press time.
AVAX/USD
Avalanche (AVAX) is the biggest gainer today as the price of the altcoin has rocketed by 17%.
AVAX is not an exception from the rule as it has successfully crossed the $80 mark and is about to test the $100 mark soon. At the moment, one needs to pay close attention to the daily closure. If bulls manage to return the rate to $90, the important $100 mark can be attained next week.
AVAX is trading at $88.56 at press time.
SOL/USD
Solana (SOL) is not an exception to the rule, going up by 6.48%.
Despite the growth, SOL is far away from its resistance level at $130. However, the trading volume is going up, which means that buyers have chances to keep the rise going. If they can get to $100, there is a high probability to see an upward move next week.
SOL is trading at $91.20 at press time.