TONCOIN continues its rally with another notable double-digit price surge.

#Bitcoin’s price performance continues to be somewhat surprising given the positive news that came from Grayscale’s court victory over the SEC earlier this week, and the asset fell to a new multi-month low.

The altcoins also fell in the past 24 hours once again, except for TONCOIN, which is in a league of its own.

BTC’s Latest Drop :-

B4Bit reported the positive developments in the #crypto market earlier this week when a US judge ruled in favor of Grayscale in its lawsuit against the US Securities and Exchange Commission. While the ruling itself didn’t mean that a spot #BTC ETF would indeed be approved, it was still another major win for the industry against the US securities regulator.

It propelled a massive rally for the entire market, with BTC soaring by over $2,000 in hours and tapping a multi-week peak at above $28,000.

However, the hype quickly evaporated, and the SEC cooled things off by delaying the decision to approve or reject all current spot #bitcoin ETF applications for another 45 days.

This had an immediate effect on BTC’s price performance, which not only lost all gains charted after Grayscale’s win but kept plunging to a new 11-week low of about $25,350 hours ago.

Despite recovering a few hundred dollars since then, BTC is still in the red today and sits beneath $26,000. Its market cap is close to breaking below $500 billion, while its dominance over the alts is at 48.2%.

TONCOIN Defies the Sentiment :-

The past 24 hours didn’t bring any positive movements for most of the alts yet. In fact, all of the larger-cap alts, including ETH, BNB, XRP, ADA, #DOGE , SOL, TRX, DOT, MATIC, LTC, and SHIB, are in the red, with minor losses.

There’s only one exception here – TONCOIN. The asset has been on a roll in the past week and the last 24 hours didn’t disappoint. TON has soared by over 11% and trades close to $2.

Most other alts are in the red, which has pushed the total crypto market cap south again. The metric is down to $1.040 trillion just days after breathing the $1.1 trillion level.

#Ethereum faced difficulties in surpassing the resistance area at $1,860, resulting in a new downward movement. The price of #ETH established itself beneath the $1,850 mark, entering a bearish territory reminiscent of #Bitcoin’s performance.

On the hourly chart of ETH, a breach occurred below a brief ascending channel, which had support of around $1,845. This caused the pair to test the $1,830 range, forming a bottom around $1,833. The price is striving for a rebound, experiencing a recovery attempt that led it to move past the $1,840 threshold.

The price went up more than a quarter of the way back from its recent drop, between the highest point of around $1,860 and the lowest point of about $1,833. But now, Ethereum’s price is lower than $1,850, and the line on the chart shows the average price over the past 100 hours.

Looking on the positive side, there’s a hurdle close to the $1,850 mark. This is roughly halfway between the highest at around $1,860 and the lowest at about $1,833. The main barrier comes at the first important point, around $1,860. After that, the next significant challenge awaits near $1,880.

If the price surpasses the $1,880 level, it could pave the way for a movement towards the $1,920 mark. Further value increases could propel the price even higher, possibly crossing the significant barrier at $2,000. If this milestone is achieved, there’s potential for an upward trajectory toward the $2,040 threshold, potentially even reaching the $2,120 level.

$ETH

#crypto2023

#opbnb