Crypto Market Gathers Strength After the Rebound
Market Picture
The cryptocurrency market added 8% over 7 days, stabilising at the $2.7 trillion level since Saturday. This is where the market tried to find support in the last days of March before collapsing at the start of April. A move higher could bolster hopes for further gains, but these expectations will only be confirmed after a solid consolidation above the 200-day moving average, which is now near $2.97 trillion.
Bitcoin continues its cautious rise, trading above its 50-day moving average and reaching $85.7K. This is an important technical attempt to reverse the downtrend. Interestingly, the 200-day average is quite close, so a second confirmation of a trend change could come quite quickly. However, from a pessimistic point…
