Key Insights:
The crypto market continues its positive momentum with a 1% increase in total market cap.
Bitcoin faces a crucial test at $67,300; a breakout could lead to a retest of $70,000.
Ethereum struggles at $3,500, but a Bitcoin surge could push it above this level.
Celestia attempts to break above $7.25, with potential gains towards $20.
BONK is trading within an ascending channel, and a breakout could lead to new highs last seen in May.
The crypto market has maintained its strength over the past week and continues to show resilience this week. The total market cap has increased by 1%, with Bitcoin trading solidly above $67,000 and gearing up for a retest of $70,000.
Crypto Market Heatmap
As shown in the crypto market heatmap, there is a healthy amount of green, with only a small part of the altcoin market in red.
Crypto Liquidations
In the last 24 hours, there have been liquidations totaling around $165 million. Interestingly, despite the market's ongoing growth, bullish liquidations overshadow bearish ones. Leveraged bears lost $63.83 million, while bulls lost around $101 million.
Bitcoin at a Crucial Threshold
According to the charts, Bitcoin is at one of its most important price points in recent months: the top of the medium-term descending trendline.
Bitcoin’s Ongoing Price Action
Bitcoin is currently trading around $67,300, a crucial resistance level. The cryptocurrency is consolidating around this price, and investors should closely monitor the next moves. A break above $67,500 could lead to a retest of the $70,000 zone, while a rejection could result in a significant drop.
Ethereum Struggles Around $3,500
While Bitcoin has made some progress and is nearing a retest of $70,000, Ethereum continues to struggle around $3,500.
Ethereum’s Price Action
Ethereum has been consolidating for about a week. A Bitcoin break above $67,500 could be the catalyst for Ethereum to break above $3,500 and target the $4,000 zone. Despite showing bullish strength, a break and close above $3,500 are necessary to confirm a shift in market control from bears to bulls.
Watch Out for Celestia
Celestia has been attempting to break above the $7.25 price level since mid-June.
Celestia’s Price Action
Celestia is making another attempt to break above $7.25, and the RSI on the daily chart shows bullish influence. A successful break could see Celestia tap into the market recovery and aim for the $20 zone.
BONK Is On A Roll
BONK is trading within an ascending channel and leveraging this formation to push forward.
BONK’s Price Action
BONK has surpassed the $0.00003127 barrier and is poised to continue upwards. Given the market-wide recovery, BONK has a strong chance of breaking above and reaching higher highs last seen in May.
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, so research and make your own financial decisions.
Meta Descriptions:
The crypto market has extended its gains over the last day, with Bitcoin sitting at a critical resistance, Ethereum awaiting a Bitcoin push, and Celestia eyeing a breakout alongside BONK.
cryptocurrency, crypto market, Bitcoin, Ethereum, Celestia, BONK, technical analysis, breakout, resistance level, market momentum
