Market Shows Signs of Relief over Weekend

The weekend was a relief to the crypto market, particularly among the top cryptos. According to Cointree, the Fear and Greed Index has moved from “extreme fear” to “fear” for the market.

In the past 24 hours alone, Bitcoin has gained 0.69% value. Similarly, the top crypto assets are finally showing signs of stability. Over the weekend, altcoins such as TON surged 4.35%.

However, the market outlook still looks grim for the assets, with most traders fearing the prospects. Here’s a quick overview of the industry to help traders understand the daily crypto market conditions.

Bitcoin

The market’s largest crypto is currently trading at 54,610 dollars. BTC has gained 0.69% value in the past day, while its weekly performance shows a 5.48% dip.

At 51,486 dollars, the coin is trading well above its first major support level. On the other hand, it is reasonably below its first major resistance level at 55,631 dollars. Given the lack of market updates from Bitcoin, the coin must rely solely on market forces.

Ethereum

Similar to BTC, ETH also gained 0.11% in value in the past day. The coin is currently trading at 2,286 dollars, with a weekly dip of 6.80%.

In addition to the troubling market forces, Ethereum is also struggling due to the rising ETF outflow. The coin has a support level placed at 2,083 dollars, while its resistance level is at 2,328 dollars. ETH is expected to remain between the two throughout the day.

BitTorrent

BTT, or BitTorrent, emerged as the standout asset over the weekend. The coin has registered a growth of 16.05% in the past 24 hours alone.

It is currently trading at 0.069 dollars, with a weekly growth rate of 13.06%. BTT, as the native crypto of BitTorrent, the P2P file-sharing and torrent platform, offers ample investment opportunities. That is why it is expected to be a major asset amidst the uncertain market conditions.

Toncoin

While several assets in the top 10 cryptos experienced 1%+ growth, TON was the only coin to jump over 4%.

The coin is nearing the 5-dollar mark with a weekly dip of 5.65%. Expert analysts are expecting a recovery period for TON, with the coin moving towards its 6-dollar mark soon. However, since 57.62% of the TON holders are cruisers, traders are wary of a quick sell-out amid the fluctuating market conditions.

SwissCheese

SwissCheese, or SWCH, is an emerging coin that gained unmatched growth over the weekend.

SWCH surged 30.05% in the past 24 hours to reach 0.45 dollars. Only NEIRO (225.78%) surpasses its 7-day growth of 53.21%. SwissCheese BTT, as the native crypto of BitTorrent, the P2P file-sharing and torrent platform, offers ample investment opportunities

Its unique proposition makes SWCH a potent investment option for new traders.