Crypto Market Update: BTC and ETH Fall, XDC and LEO Show Potential

BTC/USD 

The Bitcoin (BTC) market has been cooling in the previous 24 hours, with the price dropping to a 24-hour low of $24,135.47 owing to rising negative sentiment. This negative trend persisted until press time, with the price valued at $24,048.35, a 7.66% drop despite achieving a 90-day high in the previous 48 hours.

If the bears continue to outnumber the bulls, BTC’s $24,135.47 support level may be breached, and the subsequent support levels may be at $23,500 and $22,000, respectively. If the bulls regain control, Bitcoin may try to break through the barrier at $25,000 and set a new all-time high.

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The market capitalization fell 6.95% to $467,379,915,841, indicating that investors may be taking gains and waiting for a more precise direction before getting back in. The 24-hour trading volume increased by 2.06% to $49,574,571,838, showing a likely rise in short-term trading activity as investors respond to the market downturn and attempt to capitalize on future purchasing opportunities.

ETH/USD

Ethereum (ETH) bulls have succumbed in the previous 24 hours, with prices retreating from an intraday high of $1,761.63 to an intraday low of $1,616.63. As of this writing, ETH was trading at $1,628.11, a 7.35% drop from its previous high.

If bearish sentiment remains, ETH may breach the $1,616.63 support level, and the following support levels may be at $1,500 and $1,400, respectively. But, if market sentiment shifts and purchasing pressure develops, ETH can break through resistance levels and advance towards its recent high testing barrier around $1800, perhaps hitting new all-time highs.

During the decline, the market capitalization fell by 7.42% to $199,513,952,553, while 24-hour trading volume increased by 0.93% to $14,400,064,651, indicating that some investors may see this drop as a buying opportunity, which could potentially contribute to a shift in market sentiment and increase buying pressure for ETH.

XDC/USD

XDC Network (XDC) began the day with a bull-bear battle, with prices retracing to a low of $0.02989 before finding support. Bulls quickly brushed bear domination under the rug and shot the XDC price to a new 90-day high of $0.03232. This bullish momentum lasted until the press when the XDC price increased by 6.29% to $0.03196.

If the bullish trend in the XDC market continues, the $0.03232 barrier level may be broken, and the subsequent resistance levels may be located at $0.034 and $0.036. If bearish pressure prevails, the support levels to monitor are $0.029 and $0.027.

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During the upturn, the market capitalization and 24-hour trading volume increased by 6.17% and 50.23%, respectively, to $441,248,297 and $2,825,118. This increase implies a strong positive momentum and represents investors’ growing confidence in the market and active trading, which might soon lead to more price gains.

LEO/USD

In the previous 24 hours, the price of the UNUS SED LEO (LEO) fell to a 7-day low of $3.32 before finding support. As a consequence of this slump, bulls awoke and managed to reverse the bear trend, raising the price to a 24-hour high of $3.40. The bullish control was strong enough for the LEO price to rise to $3.39, a 1.27% gain from its previous closing.

Bullishness in the LEO market may break over the $3.40 resistance level, with the following resistance levels being $3.50 and $3.60, depending on the intensity of the purchasing demand. If the bullish momentum fades, the critical support levels to monitor are around $3.20, followed by the crucial support level of around $3.00. A decline below this level might indicate a bearish trend and more depreciation in the LEO market.

The market capitalization increased by 138% to $3,217,704,507, while the 24-hour trading volume decreased by 31.17% to $960,573, indicating that investors are still interested in LEO despite the recent drop. However, caution is advised because the decrease in trading volume may indicate a decrease in demand and potential price drops.

Conclusion

Crypto markets experience mixed performance as BTC and ETH face bearish pressure, while XDC and LEO showcase bullish momentum.