- Bitcoin (BTC) and the altcoins have shown significant price actions in the crypto market.
- The overall crypto market’s daily trading volume surged by 22.63% as per CMC data.
The worldwide cryptocurrency market has seen bullish movements in the past day instilling optimism in members of the community. The overall crypto market has shown a 1.43% increase in market cap and a 22.63% surge in daily trading volume. Meanwhile, the regulatory landscape has not shown much activity over the last 24 hours.
While price actions have remained positive, as aforementioned, investors as always the tendency have focused on the top cryptocurrencies in the past day. Bitcoin, Solana and Sui are the three top sought after digital assets since yesterday. This article outlines these asset and altcoins’ price actions in detail.
Bitcoin (BTC)
In the last 24 hours, Bitcoin has shown a bullish movement of 1.78% price increase retracing its bull run to the $68K level. In the Asian afternoon hours of October 27, BTC traded at a low of $66,996. Following this, the crypto asset began sparking bullish candles to reach current trading levels. At the time of writing, BTC was trading at $68,293 as per CMC data.
Moreover, the cryptocurrency’s short-term 9-day MA stands above the long-term 21-day indicating the overall bullish trend. If Bitcoin continues in this upward direction, it can be expected to face resistance at $69,276 and $71,690. In response to Bitcoin’s current price movements, the altcoin sector has also shown price increases in the crypto market.
Solana (SOL)
The second largest ecosystem’s native token, Solana, has begun to show progressive upward price movements. In the past day, the altcoin has recorded a 1.53% price increase sustaining this week’s upward trend. On October 27, SOL was trading at $173 levels before moving upwards to current levels. At the time of writing, Solana was trading at $177.65 as per TradingView data.
On inferring its weekly chart, Solana shows a significant price increase of 6.37%. At the week’s beginning, SOL traded at a low of $161.81, following which it progressed to current levels. The altcoin’s SMA stands below the price indicating the bullish trends.
Sui Network (SUI)
This particular altcoin has garnered much crypto market attention primarily for its price movements. SUI had shown significant price breakouts in the past month which led to increased investors’ attention. However, the token has shown downward movements in the last few days amid increased volatility. In the last 24 hours, SUI has recorded a price drop of 3.51% as displayed on its daily price chart.
The past week has seen a further significant drop as SUI dumped by 17.38% in prices. The bearish takeover bought prices down from a high of $2.07 to current levels. At the time of writing, the altcoin was trading at $1.72.
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