Cryptocurrency market is experiencing a surge in trading volume, with Bitcoin hitting highs above $100K for the third time. The dominance of Bitcoin has dropped from its yearly high of 60%, while other altcoins have seen their dominance rise to over 33%. As BTC inches closer to a six-digit figure, some altcoins are also on track to reach four-digit prices soon.
Binance Coin (BNB) has been maintaining a steady volume throughout the year, with its price reaching close to $800 at $793.35. The token is just 6% away from its all-time high, signaling a potential uptrend in the coming weeks. The price is currently testing the final resistance level before breaking the ATH, with bullish indicators such as RSI and MACD suggesting a bullish momentum. To surpass $1000, BNB needs to break through the 1.2 FIB level at $940.
Bitcoin Cash (BCH), a popular Bitcoin fork, has been trading within an ascending pattern since the beginning of the year. The token has been forming higher highs consistently, indicating strong bullish momentum. With technical indicators turning bullish, BCH could soon see a new yearly high above $1000. The price is currently in a parabolic recovery phase, aiming to break through the resistance zone between $710 and $773 and reach the upper resistance level of $929.
Bittensor (TAO) has been stuck in a descending trend but recently rebounded back to the resistance level. The price has surpassed the resistance zone between $647.3 and $672.8, forming a cup & handle pattern. This suggests that TAO could maintain an upward trend towards $1000. The volume is high, indicating increased trading activity that could push the price towards the milestone. After a possible retracement, Bittensor price is expected to surpass $1000 and reach $1,100.
Overall, the cryptocurrency market is seeing significant movements, with Bitcoin and altcoins like Binance Coin, Bitcoin Cash, and Bittensor showing potential for further price appreciation. Traders and investors are closely monitoring these coins as they aim for new highs and milestones in the market.