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The cryptocurrency market has largely remained stable over the last 24 hours, with Bitcoin showing no significant movement during this timeframe. Nevertheless, this could serve as a foundation and preparation for a potential attempt at reaching $27K.
Most altcoins have also shown little change, with a few exceptions, so let’s take a closer look.
Is Bitcoin Setting Up for $27K?
Bitcoin’s price has not generated any notable activity in the past 24 hours and is primarily hovering around the same level it was trading at yesterday – approximately $26,500.
Source: TradingView
According to the co-founder of Glassnode, $27K appears to be the next significant resistance level to surpass, while there may be some selling pressure from profit-taking around $27.4K and subsequently at $28.2K, should the cryptocurrency reach that point.
Overall, he seems to suggest that the recent rise in Bitcoin’s price will eventually lead to another challenge of the sought-after $30K mark.
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Altcoins Steady, TON Continues to Surge
Altcoins have also not shown any significant movement in the past 24 hours, which is likely expected, as the market often experiences slower activity during the weekend.
Ethereum, XRP, SOL, TRX, ADA, DOGE, BNB, and numerous other prominent cryptocurrencies are all displaying minimal fluctuations of less than 1% in either direction, as illustrated in the heatmap below.
Source: Quantify Crypto
The most notable example is TON, which continues to surge, having increased by another 12% in the last 24 hours. This cryptocurrency has consistently ranked among the top performers over the past week, with an increase of nearly 40% for the week.
Axie Infinity’s AXS token is the day’s poorest performer, down roughly 6.4%, followed by Kaspa’s KAS, which has decreased by 5.5%.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
