Last week was the best time of the year for the whole crypto tribe. Be it stablecoins, altcoins, or memecoins, the market has been priming for quite some time now. Finally, it’s time for the market to meet the summit. The net market growth has been a staggering 15%. The recovery journey precisely started on April 7th.
Positive inflows from around the world resonate with growth. For example, the de-escalation of the US-China Trade war and recently the easing of rates have supported this growth!
Key Takeaways:
1. ETH is at the forefront of the bull run with a figure of $2,400, after marking a 50% rise throughout last month.
2. XRP also breaks the resistance level. The next level for the coin is $2.5.
3. Solana gains traffic again, showing signs of breaking the $170 resistance mark
ETH Topping The Bullish Curve
ETH has finally crossed the $2,400 mark. The coin grew by a staggering 50% in April, which is better than BTC’s growth.
Experts say external market growth is not the only factor driving this trend. Some crucial news and developments are also driving growth.
In May, the ETH/BTC pair adopted a strong bounceback from the patient support level. Most interestingly, the patience level has been tested frequently since 2019. Hence, the market hopes an altcoin season is finally around the corner.
The smaller altcoins might outnumber BTC’s growth. ETH has also been falling compared to BTC.
However, the bounce experienced in May suggests that ETH is about to turn the market around soon. Experts say that ETH must rise above 0.026 to surpass BTC. This is a crucial conjecture referred to as the Fibonacci level 0.382.
XRP Inching Towards a Breakout
Finally, the long-etched legal battle between XRP and the SEC is over. The SEC charged a meagre $50 million over Ripple, so the tides favoured the altcoin. This eliminated all regulatory risk for XRP in the US market and created a ground for institutional investors to step in!
Solana is also on the verge of making a comeback. The token has shifted its focus towards the DeFi market and is opting for NFTS to become the hub of the meme coin sphere!
Disclaimer: Bitcoin Mag doesn’t represent the views expressed here. The liability for the opinions and research is with the authors.
