The cryptocurrency market is witnessing a surge of activity, with the global market cap reaching $3.44 trillion, a 2.25% increase over the last 24 hours. Trading volumes have jumped by 18.33% to $261 billion, reflecting a wave of investor enthusiasm. Bitcoin, while maintaining a significant 54.5% dominance, faces competition as the Altcoin Season Index hits 84/100, signaling a bullish environment for altcoins.
Among major cryptocurrencies, Bitcoin (BTC) holds steady at $94,846.39 (+0.29%), and Ethereum (ETH) shows modest gains at $3,603.57 (+0.54%), reinforcing their positions as market leaders. Yet, other assets are challenging their supremacy. BNB advanced to $649.33 (+2.62%), while XRP soared by an impressive 14.6% to $2.60, illustrating the rising strength of altcoins in this competitive market.
Sentiment remains buoyant, with the Fear and Greed Index at 78, suggesting optimism is fueling heightened activity. Institutional backing further amplifies this trend, with $444 million in net inflows into crypto ETFs, showcasing unwavering interest from large-scale investors.
As the altcoin market flourishes, questions arise about whether Ethereum and Bitcoin can maintain their dominance in the face of growing competition. With altcoins surging, the dominance of Ethereum and Bitcoin faces new challenges. ChangeNOW, a registration-free cryptocurrency exchange, reports rising transaction volumes for ETH and BTC. Savvy investors and large holders concerned about fund safety are turning to ChangeNOW, signaling an accumulation phase. This uptick suggests these leading coins may experience future growth.
Ethereum Climbs Amid Bullish Momentum Toward Key Resistance Levels
Source: ChangeNOW
Ethereum’s price is currently ranging between $3392 and $3690, showing a positive trend with a 5.62% gain over the past week and a significant 44.67% increase in the past month. The nearest resistance level is $4069; breaking through could open the path to $4567. RSI is at 42.72, indicating neutral momentum, while Stochastic at 21.86 suggests oversold conditions, potentially signaling an upward movement. With the price near its 10-day and 100-day simple moving averages, Ethereum may be poised for growth.
Those considering Ethereum may find the current market conditions and the ease of purchase on ChangeNOW, with no registration and no hidden fees, noteworthy.
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Bitcoin Sees Strong Monthly Gains as Bulls Eye Higher Resistance Levels
Source: ChangeNOW
Bitcoin is trading between $92,202 and $94,355, marking a monthly rise of 36.86%. The nearest resistance level is $103,684; breaking this could lead to the next target at $111,836. The Relative Strength Index is at 43.68, indicating the market isn’t overbought. The Stochastic oscillator stands at 26.92, suggesting potential upward momentum. With the 10-day Simple Moving Average at $95,676 and the 100-day at $96,460, Bitcoin’s price aligns closely with these averages. Over the past six months, the price has increased by 34.21%.
The current setup appears favorable for Bitcoin, which is available on ChangeNOW with no registration and no hidden fees.
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Conclusion
Ethereum and Bitcoin continue to offer unique opportunities for investors and traders during this altcoin season. Ethereum provides advanced smart contract features, while Bitcoin maintains its position as a leading store of value. For those interested in investing or trading these cryptocurrencies, ChangeNOW serves as an excellent platform. It allows users to exchange, buy, or sell coins without hidden fees or registration requirements, enhancing security by not storing user funds. Supporting over 900 cryptocurrencies, offering unlimited transaction volumes, and providing the option to purchase crypto using a bank card, ChangeNOW delivers convenience and flexibility for all cryptocurrency enthusiasts.
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