The cryptocurrency market capitalization has risen to $2.41 trillion in the past 24 hours, up from a July 7 low of $2.16 trillion, marking a significant gain. With trading volume up more than 15% to $97.17 billion, key players BTC, WLD, PEPE, and XRP are leading the gains. The burning question remains: can these cryptocurrencies continue their rally?
BTC maintains growth and aims for more
Dominant at 53.9%, Bitcoin (BTC) is showing market resilience, trading in the $65,677.50 range and maintaining the previous day’s gain of 3%.
TradingView data shows that bullish sentiment towards BTC may persist in the short term. Having broken through the previous resistance of $63.85 thousand, market analysts expect a rise to the next barrier at around $67,000.
Source: TradeView
Technically, the RSI is trending higher, adding to the bullish momentum of Bitcoin. Situated at 63.88, the RSI indicates significant room for the uptrend to continue before reaching overbought levels, supporting the move towards $67,000.
Moreover, the 100-day SMA, which is currently below BTC’s price of $64,483, highlights the long-term bullish outlook. If this trend continues, BTC is poised to retest the $70,000 mark last seen on June 7.
Worldcoin’s WLD Bulls Aim for New Highs
Showing the strength of the market, Worldcoin (WLD) has surged over 30% in just 24 hours, breaking through key resistance markers to trade at $2.86. This upward trajectory has increased its market cap to $789.443 million and increased its trading volume by 138.25% to $756.466 million.
Source: TradeView
This positive price action is further supported by the RSI, which is trading at 60.56. Historically, when WLD’s RSI remained in the overbought zone, the token reached its peak price four months ago. If this pattern repeats, WLD could surpass the $5.25 threshold, setting new records.
PEPE Up 5%, Death Cross Signals Caution
Similarly, Pepe (PEPE) has shown remarkable strength, rising 5.28% in the last 24 hours as the cryptocurrency market has recovered. At press time, PEPE is valued at $0.00001249. With 420.69 trillion PEPE in circulation, its market cap has grown to $5.25 billion, securing the 22nd spot in the cryptocurrency market rankings.
Source: TradeView
The daily chart shows a death cross formation, with the 20-day SMA falling below the 100-day SMA, indicating a possible bearish reversal despite the recent uptrend. This pattern suggests weakening short-term momentum, urging traders to remain vigilant. However, if PEPE breaks the $0.000013474 resistance, it could target its all-time high of $0.000017, which could potentially yield a 39.18% gain.
XRP Rises, Targeting March Highs
Ripple’s XRP has jumped 13% in the last 24 hours, becoming one of the top gainers in the cryptocurrency market. With an initial price of $0.5496, XRP has maintained its value above the $0.60 threshold. Currently trading at $0.61, XRP price has fluctuated between a daily low of $0.5343 and a peak of $0.61.
Source: TradeView
Approaching a significant resistance level around $0.64, last seen on April 9, experts are predicting a potential breakout that could push the price higher. If this resistance is broken, XRP could target the March high of $0.74.
The moving averages support the positive outlook, with the 20-day and 100-day moving averages below the current price. This pattern points to a continued bullish trend for XRP in the short and long term.
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