Today, the cryptocurrency market is making encouraging strides, as its total market value escalates to $2.35 trillion on May 17, following a 2.50% surge in the past 24 hours. Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies, have both seen gains during this period, with BTC rising by 2% and ETH by 4%. This upward trend suggests a potential rebound after a period of uncertainty and substantial losses that have plagued the market since March. Notably, both cryptocurrencies are displaying impressive momentum amidst this price recovery. Coinglass’s Relative Strength Index (RSI) heatmap on May 17 provides valuable insights into this matter.
