Crypto Market Report Today: Bitcoin Targets $67k, Ethereum Eyes Breakout

Crypto market climbs 2%, Bitcoin eyes $67k, Ethereum targets $4.9k after breakout, Worldcoin and (FET) poised for rallies.
Crypto Market Report Today: Bitcoin Targets $67k, Ethereum Eyes Breakout

Key Insights

  • The crypto market rose 2% to a total market cap of $2.37 trillion over the last day.

  • Bitcoin is attempting to consolidate above its $63,920 moving average and could reach $67,000.

  • Ethereum climbed above $3,100 and is aiming to break its falling wedge formation before targetting $4,900.

  • Worldcoin surged 18% and is on track for a 205% rally to $14.3.

  • (FET) broke its 25-day moving average and could reach $2.63 or higher.

The crypto market has gone up by another 2% over the last day, arriving at a total market cap of around $2.37 trillion.

This growth is more obvious in the crypto heatmap below, showing that most—if not all cryptocurrencies are currently green.

<div class="paragraphs"><p>The crypto market’s heatmap</p></div>

The crypto market’s heatmap

The liquidations over the last day have been relatively mild, with around $75 million taken overall from the leveraged traders.

<div class="paragraphs"><p>The crypto liquidation heatmap</p></div>

The crypto liquidation heatmap

Despite the low liquidations, however, the bears are on the harsher end, with liquidations of up to $49 million from the total.

The bulls, on the other hand, have had around $25.6 million worth of liquidations over the last day, showing that in terms of market dominance, the bulls have the upper hand today.

Bitcoin Might Have a Chance After All

According to the charts, Bitcoin is doing a pretty good job of rebounding off the $56,550 support as shown below:

<div class="paragraphs"><p>Bitcoin’s descending channel</p></div>

Bitcoin’s descending channel

We can also see that the cryptocurrency broke above its $63,920 medium-term moving average, and is attempting to consolidate its position above this price level.

If this consolidation above $63,920 is successful and a break below doesn’t occur, Bitcoin will be poised to travel further upwards and even hit the top of the channel illustrated above, at around $67,000.

Ethereum Is Back Above $3,100

Ethereum really is taking its consolidation within the falling wedge illustrated below very seriously.

As shown by the charts, the cryptocurrency has just broken above the $3,100 zone once again and is attempting to clear out its medium-term moving average, at around $3,171.

<div class="paragraphs"><p>Ethereum’s price action</p></div>

Ethereum’s price action

A break above this moving average makes Ethereum better poised to continue further upwards and even break above this falling wedge, before continuing upwards in its trajectory towards $4,900.

Has It Begun For Worldcoin?

According to CoinMarketCap, Worldcoin is up by a staggering 18% in the last 24 hours before press time.

This growth to a price of $6 is even more impressive, as shown by the chart below.

<div class="paragraphs"><p>Worldcoin’s price action</p></div>

Worldcoin’s price action

Worldcoin has successfully rebounded off the ascending trendline shown above and is now on track to complete the 205% rally towards the next bullish price target around $14.3, over the medium to long terms.

How Far Up Can Go?

$FET appears to be leveraging its support levels pretty well as shown by the chart below.

The cryptocurrency's most recent rebound of the $1.98 support appears to have brought it into an 11% intra-day rally, as well as a current price of $2.43.

<div class="paragraphs"><p>FET’s price action</p></div>

FET’s price action

We can also see that the cryptocurrency has broken above its 25-day moving average, and is attempting to make a new higher high above $2.63.

FET is bullish enough as it is, considering its growth in so little time. However, a break above $2.63 should be the trigger that shows complete bullish dominance.

A Valid Rebound on Cosmos (ATOM)

Like the others, Cosmos appears to be using its rebound off the $7.5 zone pretty well, indicating bullish strength.

<div class="paragraphs"><p>Cosmos’ price action</p></div>

Cosmos’ price action

We can see that the cryptocurrency has registered around 25% in growth since its rebound off $7.5, as well as a new higher high above the previous $9.2 short-term local high.

If Cosmos can successfully clear the path between $9.6 and $10, we just might see it travel further upwards and hit the $14.5 resistance.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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