Cryptocurrencies are jumping near their highest levels in weeks

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Coin rose Bitcoin And other cryptocurrencies today, Friday, hovering near their highest levels in weeks after the recent rise in conjunction with the stock market. Technical market indicators indicate that…Cryptocurrencies It may continue to rise.

The price of Bitcoin rose 1.79%, $1,165, from $66,334, the highest level for the largest digital asset in almost a month after weeks of falling prices around the $62,000 area. Jumping above $65,000 constitutes an important technical move for Bitcoin because it represents a breach of the 50-day moving average, noting that the price of Bitcoin recorded an all-time high in mid-March near $74,000.

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“We see a strong upward movement after the failed crash in early May, not only because Bitcoin is above a crucial support level, but because it has moved above the previous high of $65,500,” said Rachel Lin, CEO of trading platform Scene Features.

Ethereum – the second largest cryptocurrency – rose by 3.3%, by $97, to reach $3,033. Solana also rose by 4% and Ripple by less than 1%.

 

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