Crypto News – Since October 12, TOTALCAP has rapidly grown. On October 24, the gain brought the annual total to a high of $1.27 trillion. Afterward, the price validated the $1.25 trillion resistance region as resistance when it dropped below it.
Growth in the Crypto Market Cap: Upward Moves Observed in BTC and AXS
Given that it has been in place since April, the $1.25 trillion area is significant. Therefore, the future trend depends on whether the price breaks out of it or is refused. Yesterday (green icon) saw TOTALCAP hit its highest weekly closing of the year, $1.25 trillion while failing to break out.
Should TOTALCAP break out, it may rise 16% and hit $1.44 trillion, the next barrier level. Even with this positive prospect, a 12% decline to the $1.10 trillion support region could occur if the $1.25 trillion resistance area is rejected.
BTC Price May Break Through The Next Resistance Level
Last week, the price of Bitcoin rose sharply and hit a new yearly high of $35,280. A breakout from the $30,500 resistance region, which had held since May 2022, was brought about by the growth in the price of Bitcoin. The $34,525 weekly closing is also the highest since April 2022, a period of 550 days.
The reading on the weekly Relative Strength Index (RSI) is bullish. BTC has the potential to rise another 35% and reach $46,000, which is the next resistance level if the current rising trend holds.
AXS Price Hits $6 Today
When the price of AXS broke out from a trendline of declining resistance on October 21, it rose quickly. With a peak of $6 today, AXS has risen 33% in just 9 days.
The daily RSI is rising and above 50, which supports the gain, just like BTC does. At 15% above the present price, AXS can reach the resistance level of $6.70 if the rising trend persists.
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