Today’s cryptocurrency price: The global cryptocurrency market was in for a pleasant ride early on Tuesday, July 5, as it jumped into the green zone, followed by a rally of major crypto coins such as Bitcoin, Ethereum, Solana, and BNB. After about a week, these cryptocurrencies rose by more than 9%, pushing the crypto market cap above the $900 million mark. According to experts, investors are still in a state of extreme fear.
The global cryptocurrency market cap was seen in the green on the day, rising by 5.62 percent in the previous 24 hours. At the time of writing, the global crypto market cap was $914.59 billion, finally breaching the $900 mark after days. Meanwhile, the crypto market volume increased by more than 52% in the last day, according to CoinMarketCap data.
Bitcoin made a strong comeback on the day, surpassing $20,000 for the first time in several days and remaining comfortably in that range. At the time of writing, the price of bitcoin was $20,315.72, representing a 6.11 percent increase over the previous day. However, Bitcoin’s price has dropped by more than 2% in the last seven days.
“Bitcoin increased by more than 4% yesterday, breaking through the $20,000 barrier.” The last three to four days have seen significantly lower trading volumes, but the majority of buyers have been present. Although market sentiment remained in the “extreme fear” zone, the index is at its highest in nearly two months, indicating that investors are gradually warming up to the crypto markets, according to the WazirX trade desk.
“BTC’s daily trend remains within a descending channel pattern.” The immediate resistance level is expected to be $32,300, with the next key support level expected to be $14,000. The daily RSI has recovered to nearly 36, indicating that it has exited the oversold zone. According to market sentiment and technical indicators, we could potentially see the formation of a bullish pattern,” the crypto exchange firm’s analysts added.
Meanwhile, the price of Ether today soared past the $1100 mark. At the time of writing, the price of Ethereum was $1,159.52 USD.
This is an increase of 9.83% in the last 24 hours. Solana and BNB both gained up to 9.35% on the day.
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