The cryptocurrency market added approximately 2.48% over the last 24 hours, pushing total market capitalization to $2.66 trillion. The move followed Bitcoin breaking above $80,000 again, which triggered liquidations and lifted sentiment across the board. A strong correlation with equities was also observed, with crypto moving closely alongside the S&P 500.
In this environment, several altcoins showed notable price action. XRP price rose over 2% to near $1.41, but the move lacked strong conviction. Technical indicators show the Relative Strength Index (RSI) at 62.62, slightly above the midpoint, indicating buying pressure. However, the Average Directional Index (ADX) at 12.11 is very low, confirming the trend lacks strength. The price is testing the $1.42 resistance area, with the first support at $1.38 and the 30-day SMA at $1.38363 acting as a floor.
Zcash (ZEC) gained over 8%, trading near $416.63. The structure shows clear higher highs and higher lows, with buyers stepping in consistently during dips. The RSI at 73.12 is overbought, suggesting a possible short-term pause. However, the ADX at 32.75 confirms a strong trend is in place. The $420 level is acting as immediate resistance, with support at $400.
Ondo (ONDO) jumped more than 9%, trading around $0.3026 after a strong breakout. Momentum indicators show a stretched setup, with RSI at 71.92 in overbought territory and Stochastic at 99.97 at an extreme level. The ADX at 20.92 is still developing. Key resistance is at $0.305 to $0.31, while support sits at $0.29.
Bitcoin's position above $80,000 continues to support bullish sentiment across the market, though individual coins show varying levels of trend strength and momentum.
