I witnessed Total market value (collective) with Bitcoin Price (BTC) A rebound in the last 24 hours after a few bearish days. At the same time, Toncoin (TON) price also increased by 16%, negating crucial resistance.
In today's news: -
- NotCoin game and currency offer free rewards and the secret to Toncoin's strong rise
- ByBit exchange uses stablecoin USDe as collateral for transactions
The total market capitalization of the cryptocurrency market is recovering
The total value of all cryptocurrencies was at risk of falling below the $2.2 trillion support. However, the changing winds in the market led to an overall rebound of 2.85%, adding over $114 billion in one day.
Currently, the total market cap is $2.26 trillion, which shows the possibility of turning $2.3 trillion and $2.4 trillion resistance into support during the month.
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However, given that $2.3 trillion has been strong resistance in the past, Total will likely experience a failed breakout. This would keep the total market capitalization in the $2.2 trillion range.
Bitcoin approaches $63,000
Bitcoin price saw significant growth in a single day, which is somewhat necessary after the cryptocurrency almost fell below $61,000. At the time of writing, BTC is trading at $62,880, closing in on resistance at $63,720.
Its move to a support level will also break out of the bull flag pattern and trigger a rally to $65,000 and beyond.
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However, if the breach fails, Bitcoin will remain stuck in the flag, potentially falling to $61,000 or lower.
Toncoin posts a green candle
Toncoin price action increased with broader market signals, with the altcoin seeing 16.61% growth in 24 hours. In doing so, TON also broke the crucial resistance identified at $6.5 to currently trade at $6.7.
If the rally continues, Toncoin will be able to turn resistance at $7 into support, provided it consolidates $6.5 as a support floor.
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But if these conditions fail and TON falls back below $6.5, the altcoin could fall to $6. This would invalidate the bullish thesis.
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