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Denys Serhiichuk

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.

Top coins by CoinMarketCap
Top coins by CoinMarketCap


Bitcoin (BTC) keeps rising after the breakout of the $41,000 mark. It has risen by 3.60% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

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.


Ethereum (ETH) has gained more than Bitcoin (BTC) with a rise of 5.40%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

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.


Avalanche (AVAX) is the biggest gainer today as the price of the altcoin has rocketed by 17%.

AVAX/USD chart by TradingView
AVAX/USD chart by TradingView

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.


Solana (SOL) is not an exception to the rule, going up by 6.48%.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

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.

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