The cryptocurrency market has shown significant growth over the last 24 hours, led by Bitcoin testing the $95,000 level and altcoins rising.
Crypto Market Enters Renewed Uptrend
Since the beginning of the week, the cryptocurrency market has shown fresh optimism. Bitcoin reached $93,000, leading other cryptocurrencies. Previously, the market had been stuck in sideways trading for two weeks, but this situation has changed, now displaying a strong upward trend. Bitcoin has risen nearly 6% in the last 24 hours and is trading above the psychological level of $85,000. Other cryptocurrencies also show significant gains, outperforming traditional stocks.
Injective Steals the Spotlight with Breakout
Interest in Injective (INJ) surged over the past 24 hours as it rose nearly 10%, reaching $9.49, with a trading volume exceeding $135 million, which increased more than 100%. Analysts note that Injective has broken through a multi-month downtrend and is now aiming for a bullish recovery. The current price is testing a significant resistance level around $10, which acts as a psychological barrier for traders.
Outlook for Altcoins and Key Levels
Altcoins such as Ethereum, Ripple, and Solana also posted significant gains. Ethereum rose by 11%, while Ripple broke above the $2.22 level after an 8% increase. However, traders should exercise caution: if INJ fails to break and hold above $10, this could lead to further declines. Monitoring the situation is crucial, as a drop below $6 may negatively impact market sentiment.
The cryptocurrency market shows a positive trend, opening new prospects for both Bitcoin and altcoins. Investors must watch key resistance and support levels closely.
