As bullish momentum re-emerges in the cryptocurrency market today, with Bitcoin (BTC) maintaining its stance above $70,000, the top gainers have been Cronos (CRO), BitTorrent (BTT), and BNB (BNB).However, the total market capitalization is down by 0.14% to $2.63T, suggesting that while individual cryptocurrencies are experiencing gains, the overall market is still slightly down.This could indicate a mixed sentiment among investors, with some assets performing well while others struggle to maintain momentum.
BTC/USD price chart (source: CoinMarketCap )
Moreover, despite the top two, Bitcoin and Ethereum, rising above $70k and $3500, respectively, most altcoins have succumbed to bearish pressure, with BTC trading at $70,723 and ETH at $3,522, a 0.64% and 2.85% decline, respectively.
CRO/USD After establishing support at the intra-day low of $0.1436, Cronos’ (CRO) bullish momentum swooped in, soaring the price to a high of $0.1575, marginally below its 7-day high.Despite the failure to breach the resistance, CRO was still bullish at press time, trading at $0.1547, a 7.97% surge in the last 24 hours.
This positive price action indicates potential for further gains soon as investors continue to show interest in Cronos.
CRO/USD 24-hour price chart (source: CoinMarketCap)
If the bullish momentum breaches the $0.1575 high, the next resistance levels to watch out for are at $0.1600 and $0.1650.
However, if the price fails to hold above the current support level of $0.1436, a retest of lower levels around $0.1400 could be possible in the short term.
Concurrently, the CRO’s market capitalization and 24-hour trading volume surged by 4% and 110.99%, respectively, to $4,109,097,254 and $37,936,688.This increased market capitalization and trading volume reflect growing interest and activity in Cronos, which could lead to more significant price movements soon.
BTT/USD Following suit, BitTorrent (New) BTT saw its bullish rally reemerge after support at $ 0.1481 held strong, pushing the price back above to a 7-day high of $0.166 before facing resistance.However, the increasing trading volume and market capitalization of BTT by 9.45% and 34.58% to $50.92M and $1.59B indicate a renewed interest in the cryptocurrency, suggesting further upward momentum may be on the horizon.
BTT/USD 24-hour price chart (source: CoinMarketCap)
At press time, BTT was trading at $0.
1648, a 9.76% surge in the last 24 hours and a 15% surge over the previous 7 days.If the bulls breach the $0.166 resistance, the next resistance levels to watch for are $0.17 and $0.
18.
This positive price action could attract more investors and traders to join the rally, potentially driving the price even higher soon.
However, if the bears manage to push the price below $0.16, we may see a retest of support levels at $0.15 and $0.14.
BNB/USD BNB has also seen an unprecedented surge in the last 24 hours after support was established at $592.60.Bulls soared the price to a seven-day high of $626.98 before facing a pullback.
However, at press time, BNB was still under bullish momentum, exchanging hands at $622.75, a 3.63% gain in the last 24 hours and a 7.85% surge in the last seven days.
BNB/USD 24-hour price chart (source: CoinMarketCap)
If the bullish rally breaches the $626 resistance, the next resistance levels to watch out for are $630 and $635.However, if the price fails to break above $626, we may see a retest of support levels at $615 and $610.
During the rally, BNB market capitalization surged by 3.28% to $92,938,270,933, while the 24-hour trading volume dipped by 11.57% to $1,594,512,418.This decrease in trading volume could indicate a potential reduction in buying pressure, so traders should monitor the situation closely for any signs of a trend reversal..
