The cryptocurrency market saw a significant resurgence last week, with Bitcoin leading the way by surpassing $66,000 for the first time in nearly a month. This bullish trend resulted in a $255 billion increase in the global crypto market cap, marking an 11.95% rise driven by several altcoins.
One of the top performers last week was Solana (SOL), which hit a six-week high of $175 after experiencing six days of consistent gains. The asset demonstrated strong bullish momentum, rising by 22.35% from $141 to $172. The Accumulation/Distribution line and the Klinger Oscillator both confirmed the buying trend, but investors should keep an eye on the $148.48 support level for potential bearish signals.
ZkSync (ZK) also saw significant gains, rallying 18.9% from $0.1596 to $0.1897. The token recently retested the 23.6% retracement level at $0.1918, indicating a potential resistance level. The On-Balance Volume (OBV) indicator showed a rising trend, supporting the bullish price movement.
Brett (BRETT) experienced a volatile week, with the token recording its largest intraday gain in seven weeks at 20.57%. However, BRETT also saw an 11% decline over the following three days. The Bull Bear Power (BBP) indicator fluctuated around the 0.02847 mark, but a positive shift towards the end of the week led to a 27% increase overall. The MACD indicator showed a potential buy signal, with the MACD line slightly above the signal line.
Looking ahead, investors should monitor key support and resistance levels for SOL, ZK, and BRETT to gauge potential price movements. Sustained buying pressure, volume, and momentum will be crucial factors to watch for in the coming week to confirm any bullish trends. As always, it is important to conduct thorough research and stay informed about the latest developments in the cryptocurrency market before making any investment decisions.