Key Points
- Bitcoin’s recovery past $66,000 triggers a bullish trend in the cryptocurrency market, leading to a $255 billion increase in global crypto market cap.
- Solana (SOL), zkSync (ZK), and Brett (BRETT) are top performers, showing significant gains and potential for further growth.
Bitcoin’s resurgence last week led to a significant recovery in the cryptocurrency market. The leading digital currency, Bitcoin, surpassed several critical psychological levels, reaching over $66,000 for the first time in nearly a month.
This bullish trend was mirrored across the market, resulting in a $255 billion increase in the global crypto market capitalization over the past week. The growth represented an impressive 11.95% rise, largely fueled by several altcoins.
Top Performing Cryptocurrencies
Solana (SOL), zkSync (ZK), and Brett (BRETT) were among the cryptocurrencies that stood out due to their noteworthy performances.
Solana (SOL)
Last week, Solana (SOL) was one of the biggest winners of the market recovery. SOL experienced six days of continuous gains over the week and crossed the $175 mark for the first time in six weeks before encountering resistance.
Solana exhibited a strong bullish trend last week, rising by 22.35% from $141 to $172. The Accumulation/Distribution line reached 297.488 million, confirming the buying trend. Furthermore, the Klinger Oscillator showed a recent positive crossover with a reading of 125.642K, indicating a higher volume of buying trades than selling trades.
ZkSync (ZK)
ZkSync (ZK) also capitalized on the market rebound, recording an impressive 18.9% increase last week. The On-Balance Volume (OBV) indicator was at 2.826 billion, showing a rising trend and suggesting an increase in buying volume. This rise in OBV supports the bullish price movement and indicates strong accumulation.
Brett (BRETT)
Brett (BRETT) followed a similar upward trend, although its price experienced greater volatility. Despite an 11% drop over three days, BRETT ended the week with a 27% increase. The Bull Bear Power (BBP) showed mixed sentiment but indicated bullish momentum towards the end of the week. The MACD line at 0.00232 was slightly above the signal line at 0.00119, indicating a potential buy signal.
If the MACD line continues to move upward and the BBP remains positive, it could suggest a bullish trend for BRETT in the following week. The key will be to watch for sustained volume and momentum to confirm this potential uptrend.
