Another day, another rally.
The crypto market has spent the last day in another bullish move, straight up towards $43,000. The total crypto market cap has rallied by 2.82% over the last day and now sits at about $1.59 trillion.
This is an impressive setup compared to this metric’s value a month ago. Overall, the crypto market looks like this:
Strangely, while Bitcoin is strongly bullish here, the altcoin market seems either weakly affected by this bullishness, or unaffected at all. Bitcoin’s clear strength over the altcoins has affected the amount of liquidations over the last day.
Bitcoin has a total of about $116 billion worth of liquidatons over the last day with most of them being shorts.
The total amount of liquidations over the last day has also skyrocketed to about $276 million. This shows that the bulls are strong on Bitcoin today, but may be weaker than the bears everywhere else.
Is Bitcoin Ready For $45,000?
Bitcoin has spent the last few weeks in a constant show of bearishness, beating the odds and rallying strongly at intervals.
The cryptocurrency is now up by about 3.8% over the last day and is now trading at about $43,500 at the time of writing.
While Bitcoin is bullish enough as is on the daily chart, investors should be aware that the RSI on the daily chart has breached the overbought zone, and a Bitcoin correction anywhere from here is entirely possible.
Will Ethereum Retest $2,150?
Just like Bitcoin, Ethereum has been bullish to some extent today.
However, the chances of a market correction on Ethereum seem more glaring than on Bitcoin.
As it is with Bitcoin, investors should watch out for a possible correction on Ethereum, down to the $2,150 zone.
Bullish Days Ahead For Solana
After Solana’s rejection from $68, the cryptocurrency reversed for a retest of $51.
Solana has spent the last two months initiating a rebound from this zone and is now aiming for a break above, or at least a retest of $68. Solana, over the last day, is up by about 7% and currently trades at around $63.5.
Bake, Top Gainer On Binance
According to Binance's rankings, BAKE has moved u by about 76% to become the best-performing cryptocurrency on the market, over the last 24 hours.
Bake has spent the last 24 hours being as bullish as can be, with a current price of about $0.30. However, the daily RSI hit severely overbought conditions when BAKE rallied to $0.36, and the cryptocurrency appears to be in the middle of a correction.
We may see a reversal and retest of $0.2775 before BAKE continues upwards in its trajectory.
Is Dogecoin Back?
For a while, Dogecoin has stayed away from the headlines, mostly due to its lack of volatility and the sluggishness of its price.
However, after breaking above and retesting a major descending trendline as shown above, Dogecoin has rallied by more than 15% over the last day and currently trades at about $0.1.
Investors should be aware, however, that there is a strong resistance point around $0.11, and we may see Dogecoin enter a price reversal anywhere around this zone.
