Market overview

The crypto market capitalisation has risen by 1.3%, reaching $2.59T. The stock market’s return to growth has bolstered appetite for cryptocurrencies, allowing the market to rebound from the 50-day moving average. This could mark the start of a more sustained rally, similar to the one seen in April. Should the uptrend continue, the immediate resistance levels appear to be around $2.7T and $2.8T, where the previous local highs and the 200-day moving average are located, respectively. In terms of 24-hour performance, Zcash is once again leading the pack (+14%), followed by Dash (+8%) and the volatile Toncoin (+6.3%). Performing worse than the rest but still in positive territory are Hedera (+0.1%), Ethereum Classic…