Why the Crypto Market Is Up Today
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The Total Crypto Market Cap (TOTALCAP) is in the process of breaking out from its range high. Bitcoin (BTC) and ICON (ICX) broke out from descending resistance lines.
In the news, Texas lawmakers passed the infamous “Bill 1751”, which greatly restricts Bitcoin mining operations. After the arrest of Donald Trump, his non-fungible token (NFT) sales witnessed a 220% surge in trading volume.
Crypto Market Cap (TOTALCAP) Attempts Breakout
The TOTALCAP has traded in a range between $1.09 trillion and $1.16 trillion since March 14. Both the range high and low have been validated numerous times.Currently, TOTALCAP is in the process of breaking out from the range high.
If it successfully closes above it, it could reach the $1.30 trillion area. However, if it gets rejected, a decrease to the $1.09 trillion support area could follow.
Bitcoin (BTC) Bounces After Retest
ICON (ICX) Price Reaches Yearly High
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.
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