Bitcoin struggled to maintain the bullish momentum seen on Monday, with investors now focused on defending the $62,000 level. The cryptocurrency market as a whole is also in a period of consolidation. At press time, BTC was trading at $62,056.56, down 2% over the past 24 hours.

Similarly, Ethereum (ETH) is looking to reach the $3,500 mark, while Ripple (XRP) is approaching the $0.50 resistance. Cardano (ADA) has broken above the $0.40 resistance zone. Solana (SOL) is in the spotlight with a surge above $152.

In this article, we will discuss:

Bitcoin Price

Recent chart analysis reveals that Bitcoin has lost stability above $63,000, now trading close to $62,000. It is currently down 2% in the last 24 hours, but is still up 1% this week.

Bitcoin is currently attempting to clearly break above the $63,500 resistance level. If it manages to close above $64,000, the price could move steadily higher. The next major resistance is near $66,500.

On the downside, an initial support is near the $58,000 level, with the next major support near the $52,500 zone, below which the price could resume its downtrend.

Ethereum Price

Ethereum price stabilized above $3,320, showing positive signs above the $3,400 resistance. The next major resistance is near $3,650, above which the price could test $3,820.

On the downside, initial support now lies near $3,320, with the next major support at $3,250.

Altcoin Stability

Major altcoins are also experiencing a period of stability, with only a few registering significant movements. For example, Avalanche (AVAX) is trading at $28.61 and has seen a 1% drop in value, while Uniswap (UNI) has seen a 1.05% drop. On the other hand, Toncoin (TON) has seen its price increase by 5%, and Cardano (ADA) has seen a 4% increase to $0.4190. The remaining altcoins have remained stable throughout the day.

Meme Coins

Meme coins are enjoying an impressive comeback, particularly on the Solana network, where tokens like Bonk (BONK), Floki (FLOKI), and Brett (BRETT) have been the standouts. After a period of more modest movements, these tokens have led a remarkable rally in the market.

Currently, the market cap of meme coins is valued at around $48 billion. Dogecoin (DOGE) and Shiba Inu (SHIB), known for their dog-themed coins, continue to dominate this segment in terms of market cap, but they face increasing competition. The total trading volume of these digital assets recently reached $3.49 billion.

Among the tokens, Bonk (BONK), the first dog-themed token on the Solana blockchain, saw a 10% increase with its current price reaching $0.00002670 and is now undergoing a correction to around $0.00002537.