According to CoinMarketCap, the top four trending cryptocurrencies in the past 24 hours have been: Ethereum (ETH), Bitcoin (BTC), Shiba Inu (SHIB), and SingularityNET (AGIX).
After beginning the day at $1,584.74, Ethereum (ETH) bulls have been relentless, pushing the price over a 24-hour resistance level and pushing it to a 30-day high of $1,737.02. As of press time, this bullish trend had persisted, resulting in ETH’s value hitting $1,736.25, an 9.90% increase.
Owing to the ETH market reaching a new high, traders jumped, triggering a 6.65% increase in market capitalization to $206,646,532,567. Nonetheless, the 3.22% drop in 24-hour trading volume to $13,992,947,009 shows the market is in a short pause or consolidation period.
If the bullish trend in ETH continues and the $1,737.02 barrier level fails to hold, the next resistance levels might be around $1,800 and $1,850, respectively. However, if the market experiences a significant pullback, the support levels to watch out for are $1,650 and $1,600.
Bitcoin (BTC) has been positive in the last 24 hours, with bulls carrying the price from an intra-day low of $22,504.61 to a 90-day high of $26,514.72. As of press time, the bullish dominance was still present, prompting the BTC price to surge by 16.21% to $26,019.22.
If bullish power persists, the $26,514.72 resistance may not hold, and the next resistance may be found at the $27,000 level, which could be a crucial psychological barrier for investors and traders to watch out for. However, if bearish pressure starts to mount, the price may retrace toward the support levels at $25,000 and $24,500.
Due to the surge, the market capitalization and 24-hour trading volume surged 16.13% and 28.53%, respectively, to $503,983,046,663 and $54,377,036,964, representing a significant increase in investor confidence and bullish sentiment towards the cryptocurrency market.
Shiba Inu (SHIB) market has also experienced a promising sign recently, owing to the surge in the Bitcoin market beyond the $26K barrier. During the upturn, bulls in the SHIB market managed to fly the price to a 7-day high of $0.00001167 after breaking past resistance. The bullish trend remained strong at press time, driving the price to climb by 8.68% to $0.00001155.
During the upturn, the market capitalization and 24-hour trading volume increased by 8.40% and 25.73%, respectively, to $6,337,178,137 and $459,646,565, indicating that investors are showing a strong interest in this particular asset and are willing to trade it at higher volumes, indicating a positive sentiment towards its future potential.
Although falling to an intra-day low of $0.3608, SingularityNET (AGIX) has hit a new 7-day high of $0.422 in the previous 24 hours. This strong momentum continued until press time, causing the AGIX price to rise 14.16% from its previous closing of $0.4119.
Under the bullish market control, market capitalization, and 24-hour trading volume increased by 14.58% and 21.07%, respectively, to $498,434,311 and $286,611,222. This increase in market capitalization and trading volume implies that AGIX is in high demand among investors. It remains to be seen if this upward trend will continue in the days ahead.
If bullish pressure persists, the next likely barrier if $0.422 is broken may be the $0.450 level, but if negative pressure prevails, a regression toward the $0.380 support level may be seen.
Ethereum and Bitcoin lead the charge in the crypto market surge, while altcoins Shiba Inu and SingularityNET ride the wave to 7-day highs.