Marginal Gain in Crypto Market as Trading Volume Surges by 6.82%: Bitcoin and Ethereum See Uptrend

15 views 1:06 pm 0 Comments May 14, 2024

Rajagopal Menon, Vice President of WazirX, mentioned that Bitcoin surpassed the \(66,000 threshold, briefly reaching \)67,000 before encountering resistance at that level. The \(65,000 mark has proven to be a strong support level. If Bitcoin manages to exceed \)67,000, it could open the path for a climb towards \(68,000 and potentially even \)70,000. Although the cryptocurrency market seems to be following a stable trajectory post-halving, corrections may disrupt Bitcoin’s upward trend.

Regarding Solana (SOL), Menon noted that it successfully broke through the \(150 barrier, indicating a forthcoming rally targeting \)161. The substantial trading volumes are bolstering SOL’s recovery, and a breakthrough at $161 could lead to significant gains.

Despite facing regulatory challenges, XRP continues to maintain its momentum amid the legal battle with the SEC. Institutional investors and prominent holders are driving trading activity and contributing to the token’s price appreciation.