Key Insights:
The crypto market saw a 1.2% increase in total market cap, with Bitcoin stabilizing above $61,000.
Bitcoin might be aiming to break above $62,000 again, with its daily RSI indicating possible recovery.
Ethereum's price stabilized around $3,320 and is attempting to retest $3,670.
Akash bounced back above $3 and might soon challenge the $3.69 resistance.
BOME surged by 17% on the intraday timeframe and might continue rising with the rest of the memecoin market.
The crypto market has shown improvement over the last day, with a 1.2% increase in market cap. Bitcoin is back above $61,000 and appears stable for now. The crypto heatmap displays a healthy amount of green, signaling overall recovery.
Crypto Market's Heatmap:
Bitcoin's dominance has dipped from over 55% to 53.12%, supported by an increase in Ethereum's dominance to 18.14%. Liquidation figures remain around $80 million, with $81 million taken from leveraged traders in the last 24 hours.
Crypto Liquidation Heatmap:
Compared to yesterday, where bullish liquidations were higher, bears took the worst hit today, losing $49 million versus the bulls' $32 million. Overall, the market is still in a consolidation phase but appears more favorable for the bulls today.
Bitcoin Continues Against $62,000:
Bitcoin is retesting the $62,000 zone, aiming for an upside breakout. Its price action has been bullish, with a current price of $61,600 and a daily RSI indicating recovery from oversold conditions.
Bitcoin’s Price Action:
The RSI on the daily chart suggests a potential crossover between the MACD and the signal line. If successful, Bitcoin might break above $62,000 and continue its rally.
Is This Recovery For Ethereum?
Ethereum's price has stabilized around $3,320 and is moving upwards. Yesterday's candlestick showed significant bullish strength, taking the price from $3,360 to $3,450. Continued bullish pressure could see Ethereum retest and possibly break above $3,670.
Ethereum’s Recovery Attempt:
Recovery For Akash?
Akash Network ($AKT) turned bearish after dropping below $3 on 18 June. However, it has retaken the $3 level and is now looking to test resistance around $3.69.
Akash in the Charts:
If Akash breaks above this resistance, it could continue its upward trend.
Similar Recovery On $BOME?
Book of Meme ($BOME) has rebounded from support at $0.077 after losing its footing around $0.01. Leading the market with a 17% intraday price increase, BOME is likely to continue its bullish trend.
BOME in the Charts:
Given the ongoing recovery in the memecoin market, BOME is expected to remain strong alongside BONK and BRETT.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but 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.
Meta Description:
The crypto market is showing signs of recovery, with a slight increase in total market cap and Bitcoin stabilizing. Here's everything to know about Bitcoin's dominance and upcoming breakouts for Bitcoin, Ethereum, Akash, and BOME.
#CryptoMarket #Bitcoin #Ethereum #memecoin #TechnicalAnalysis