Date: Wednesday, August 07, 2024, 05:22 AM GMT
The cryptocurrency market has seen a much-needed recovery rally over the past 48 hours. After a brutal start to the month that saw Bitcoin plummet from $70K to $49K in just six days, largely due to global market downturns and geopolitical tensions, there are signs of a rebound.
RENDER, NOT, and JASMY Bounce Back With Over 30%
In the past 48 hours, Bitcoin has shown a strong recovery, surging from a low of $49,121 to $57K. This has led to impressive gains in several top altcoins, including Render (RENDER), Notcoin (NOT), and Jasmycoin (JASMY).
What's Next?
Source: TradingView
The primary driver of this recovery is Bitcoin's strong pullback from its support level at $50,800, which propelled it to its current price of $56,936, marking a 15% increase over the last 48 hours. Bitcoin has already broken through the resistance level of $56,700 and is now aiming for the next resistance at $59,708.
If Bitcoin maintains this upward momentum, we could see further gains in the prices of RENDER, NOT, and JASMY. As always in the crypto market, it’s crucial to stay updated and be prepared for rapid changes.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk, and you should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
