The post Crypto Market Analysis: Markets Rise Above Bearish Influence, Can it Sustain the Growth? appeared first on Coinpedia Fintech News
The crypto space breathed a sigh of relief with a minor upswing as the day’s trade began with a bullish push. The global crypto market capitalization increased by 1.54%, standing at $1.18 trillion, while the volume soared by 13.43% to hit levels above $36 billion. The Bitcoin (BTC) price rose above the major resistance and is trading at $29,703, while its dominance is slowly rising as it stands strong above 48.94%.
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Crypto Market at a Glance
Top Gainers & Losers
| Gainers | Change in 24hrs | Losers | Change in 24hrs |
| Pepe(PEPE) | +6.66% | Mantle (MNT) | -6.69% |
| Toncoin (TON) | +5.75% | Optimism (OP) | -4.72% |
| Shiba Inu (SHIB) | +5.65% | Rocket Pool (RPL) | -3.57% |
| Hedera(HBAR) | +5.46% | GMX (GMX) | -2.58% |
| Solana (SOL) | +5.25% | Frax Share(FXS) | -1.89% |
Worldcoin (WLD)
The Worldcon price has reached lower support and has held firmly for the past few hours. The price appears to be accumulating strength as the volatility has dropped while the volume has raised slightly. Besides, the RSI is hovering along the lower support, waiting for a bullish push to trigger a rebound. The ADX that determines the strength of the rally has reached its peak and could be subject to a bearish divergence. Hence, the WLD is expected to remain under acute and prolonged consolidation.
Shiba Inu (SHIB)
The recent upswing has pushed the Shiba Inu price beyond the ascending triangle, breaking above the resistance. After a minor retest, the price has again triggered a significant upswing, indicating that the bulls are regaining strength. Besides, the RSI maintains an ascending trend along the lower trend line and has yet to reach the upper resistance. Therefore, the SHIB price may continue to rise slowly and steadily to reach the upper resistance at $0.00001190.
Solana (SOL)
Solana’s price is also flashing bullish signals as the price is close to reaching the apex of the ascending consolidation within a triangle. After the token reaches the edge, a strong breakout is expected that may propel the prices beyond the major resistance at $30 and may even mark new yearly highs above $32. The rising RSI substantiates the bullish claim that the market is maintaining a healthy upswing.
Terra Classic (LUNC)
The Terra Classic price has been plunging since the beginning of the year after facing rejection from the yearly highs above $0.0002. However, the token is trading within a falling wedge, which is largely considered a bullish pattern and could result in a bullish breakout. Besides, the RSI is incremental, which suggests, the price may rebound and rise high to reach interim resistance at $0.000116 shortly.
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