Key Insights:
The crypto market is experiencing a significant upswing, with a total market cap increase of 2.67%.
Bitcoin has climbed above $68,000 but faces resistance at $64,400. Breaking above this would signal a bullish trend, while a drop below $60,300 would indicate a bearish turn.
Ethereum's attempt to break the $3,500 resistance level failed, reflecting a similar reversal from 1 July.
DogWifHat has surged 45% after bouncing off its trendline support. A break above $2.37 could trigger a bullish rally.
Arweave is trending above $20.3 and is nearing a breakout from its descending triangle. A surge above $29.7 could lead to a retest of $36.9.
The market is dominated by bulls today, as evidenced by a 2.67% increase in total market cap and Bitcoin rising above $68,000.
The Crypto Heatmap
The heatmap shows a healthy amount of green in the market, with Ethereum close to retesting or breaking above the $3,500 resistance.
The Crypto Liquidation Heatmap
The market has seen significant position closures in the last 24 hours. Leveraged traders have lost around $184 million, with $132 million coming from the bears and $52 million from the bulls. This suggests that the market is currently bullish, but caution is advised due to the volatility.
Can Bitcoin Continue Upwards?
Bitcoin has been in a steady uptrend despite being in a descending channel. It hit the $64,400 resistance and is now showing signs of a rejection. Investors should watch for a bearish reversal if today's closing price falls below yesterday's $60,300 open, or a bullish continuation if it breaks above $64,400.
Ethereum and the $3,500 Resistance
Ethereum faced rejection at the $3,500 resistance, similar to its reversal on 1 July. If the pattern repeats, the cryptocurrency might decline again. Investors should monitor Ethereum's price action closely for potential dips.
DogWifHat is Back in Action
DogWifHat has rebounded 45% after retesting its ascending trendline support. The memecoin might rally if it breaks above $2.37, but investors should be cautious of potential reversals below this level.
Price Action on Arweave
Arweave is trending strongly above $20.3 and is testing the upper trendline of its descending triangle. A breakout above $29.7 could lead to a rally towards $36.9.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets; please research and make your own financial decisions.
Meta Description: The crypto market is bullish today with a 2.67% increase in market cap. Bitcoin faces resistance at $64,400, Ethereum struggles at $3,500, DogWifHat eyes a breakout at $2.37, and Arweave nears a surge to $36.9.
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