Denis Sergiychuk
Can the current market bounce translate into medium-term growth?
The weekend kicked off with a continued rise in the cryptocurrency market as all of the top 10 coins are in the green.
Best coins according to CoinMarketCap
Bitcoin/US dollar
Bitcoin (BTC) continues to rise after breaking through the $41,000 mark. It has risen by 3.60% in the last 24 hours.
BTC/USD Chart by TradingView
Bitcoin (BTC) is approaching the resistance level at $45,854 on the daily chart, which means the bulls may have built up enough strength to break out. If this happens and the daily candle sticks above the $46,000 mark, then further advance to another $52,000 level can be expected soon.
Bitcoin is trading at $41,883 at press time.
Ether/US dollar
Ethereum (ETH) added more than Bitcoin (BTC) with a 5.40% gain.
ETH/USD Chart by TradingView
Technically, Ethereum (ETH) is trading similarly to BTC as it is also about to break the resistance level. Buyers need to get to the vital $3,000 mark to maintain mid-term growth.
Moreover, buying volumes are growing, which confirms the strength of the bulls.
Ethereum is trading at $2,950 at press time.
AVAX/USD
Avalanche (AVAX) is the most profitable player today as the price of the altcoin soared by 17%.
AVAX/USD Chart by TradingView
AVAX is no exception to the rule as it successfully broke the $80 mark and is set to test the $100 mark soon. At this point, you need to pay close attention to the daily closing. If the bulls manage to get the rate back to $90, the important $100 mark could be reached next week.
At press time, AVAX is trading at $88.56.
Sol/US dollar
Solana (SOL) was no exception to the rule, up 6.48%.
SOL/USD Chart by TradingView
Despite the rise, SOL is far from its $130 resistance level. However, the trading volume is growing, which means that buyers have a chance to continue growing. If they can get to $100, there is a high chance of seeing an up move next week.
SOL is trading at $91.20 at press time.