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.
- Fetch.ai (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.
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.
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:
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.
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.
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 Fetch.ai 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.
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.
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.
