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- 1 The flagship crypto giants Bitcoin, Ethereum, and Cardano noted a significant rise in the last sessions.
- 2 Investors are showcasing their presence, and a sharp spike in inflows was recorded.
Bitcoin, the crypto market leader, crowned $50k yesterday for the first time since Dec 2021, hinting a massive buying momentum. Amid the retracement from the highs, BTC recuperated and has achieved strength. Moreover, the BTC coin looks bullish and is settled close to $50k, which, if decisively exceeded, will deliver a rise of over 5% shortly.
The BTC Price on Daily Charts Retested $50K and Implies Bullishness
The BTC price glimpsed bullishness and depicted a follow-on buying momentum, which soaked over 17% this week. Additionally, the trend favors the bulls, and further continuance of the upside can be anticipated in the following sessions. The BTC price is noted at $49796 with an intraday gain of 0.22%, and the market cap rose to $977.10 Billion.
The ETH Price on Daily Charts is Preparing to Reach $3k
Along with Bitcoin, the second most prominent crypto leader (Ethereum) also rallied this week and furnished buying momentum, arriving close to its higher top of $2700, but it has yet to surpass it. The price action shows that ETH was in an uptrend and continued to form a higher high formation for the past weeks. Recently, a bounce from the 100-day EMA ushered a rise and surpassed $2500. However, Ethereum price still has space towards $3000, which may be attained soon.
At the press time, the Ethereum price was changing hands at $2672 with an intraday gain of 0.52% depicting bullishness and the market cap rose to $326.43 Billion.
The ADA Price on Daily Charts Reveals a Rebound from the 100-Day EMA
Cardano (ADA) price signifies a trendline breakout of the bullish flag pattern above $0.500, reflecting the bulls’ intention to lift the gains. Along with the market leaders, the ADA coin reflects investors’ presence and guides buying momentum. However, the Cardano coin did not replicate any effective spike. It is yet to surpass its trajectory hurdle of $0.750 to rally away.
The Cardano coin was changing hands at $0.5545 with an intraday gain of 3.78%, showing a bullish outlook and the market cap rose to $20.39 Billion.
Summary
BTC, ETH, and ADA offered institutional buying cues and have delivered buying momentum in the past sessions. Moreover, the crypto leaders have acquired momentum and are heading toward the blue sky zone, replicating investors’ interest from the start of 2024. Additionally, the positive sentiments globally boosted the momentum, which led to the upliftment in the past sessions.
Technical Levels
Support Levels of BTC: $47000 and $45000
Support Levels of ETH: $2500 and $2430
Support Levels of ADA: $0.6500 and $0.5000
Resistance Levels of BTC: $51000 and $52,550
Resistance Levels of ETH: $2800 and $3000
Resistance Levels of ADA:$0.7000 and $0.7500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
