The Crypto Market Stands On Top
The Crypto Market Stands On Top . (MENAFN - FxPro) Market PictureThe cryptocurrency market is consolidating near the $2.5 trillion mark after pulling back slightly from the local peak. Judging by intraday performance, the market is ...
América - MenaFN
Market Picture

The is consolidating near the $2.5 trillion mark after pulling back slightly from the local peak. Judging by intraday performance, the market is undergoing a shakeout of positions as some players close positions related to the idea of a victory. The market's further momentum will depend on whether politicians continue to support crypto, which creates the risk of volatility.

Bitcoin is hovering around $75.7K, close to the highs. This stabilisation in the 3% range is helping to blow off steam for short-term speculators who were closing in on the idea of a Trump victory. The technical picture has changed a little: Bitcoin is close to the upper boundary of the upward channel, which raises the risk of a corrective pullback. At the same time, after rising above 72, the first cryptocurrency has broken through the upper boundary, suggesting further growth.

Solana is attempting to copy Bitcoin's momentum this year, having reached the March highs. However, trading close to $200, it has yet to break through resistance. It is also still below the 2021 high of $260.
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2024-11-08
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(MENAFN - FxPro) Market PictureThe cryptocurrency market is consolidating near the $2.5 trillion mark after pulling back slightly from the local peak. Judging by intraday performance, the market is ...
The Crypto Market Stands On Top