The cryptocurrency market experienced minimal changes over the weekend, with Bitcoin trading steadily at around $67,000 and showing a modest 0.25% growth throughout the day. The neutral candles on the daily chart reflect uncertainty among investors, suggesting that the price may maintain its position above the recently breached level.
Ethereum had a productive week, witnessing an 8.8% increase from the monthly support of $2,878 to $3,110. Currently, Ethereum’s market cap stands at $374 billion, with a 24-hour trading volume of $8 billion. For the latest technology news, visit NEWSLINKER.
If the bullish momentum continues, Ethereum’s price could rise by 4% before encountering the main resistance of the falling wedge pattern. A breakout beyond this channel is vital for buyers to lead a sustainable increase towards $4,090. On the other hand, if the channel pattern remains intact, Ethereum may extend its bearish trend.
Chainlink has seen a five-day consecutive rise, with its price increasing from $12.8 to $16.64, marking a growth of nearly 30%. With a market cap of $9.78 billion, Chainlink maintains its position as the fifteenth largest cryptocurrency.
The recent surge broke the resistance trend line at $16, which had been indicating a correction trend for the past two months. This breakout signifies a significant shift in market dynamics, and Chainlink’s price may stabilize above the reversed $16 support to consolidate the aggressive rise. Key resistances to monitor if the uptrend continues are $18.6, $20.7, and $22.8.
Analyzing the daily timeframe chart, it can be observed that BONK has formed an inverse head and shoulders pattern, with the neckline resistance at $0.00003. This week, the cryptocurrency experienced a substantial 28.8% growth, rising from $0.0000214 to $0.000027.
With continuous buying pressure, it is likely that the cryptocurrency’s price will surpass $0.00003, indicating the end of the previous correction. Bonk’s current market cap is $1.76 billion, with the trading volume increasing by $238 million since yesterday, reaching $692 million. A successful breakout will lead buyers towards a rise to $0.0000478.
For the latest news, you can follow us on Telegram, Facebook, Twitter, and Coinmarketcap.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies, and should conduct their own research.
