The crypto currency market began to recover after the recent wave of sales. As of March 6, the market value increased by 5 %in the last 24 hours to 3.10 trillion dollars. Bitcoin $91,278.90 And leading crypto currencies such as Ether increased by 5.6 %daily. This improvement shows that the market gains strength again.
US trade developments were reflected in the crypto market
US President Donald Trump announced that he temporarily suspends 25 %tariffs for automobile imports. This statement eliminated the likelihood of automobile imports from Canada and Mexico to create trade tension. In the crypto currency market, this development reduced investors’ concerns and accelerated the recovery process. Bitcoin fell below $ 90,000 in the uncertainty period, while the statement increased to a safe level by exceeding $ 92,000.
This statement caused the market to take on a more positive atmosphere. Crypto currency investors can trade in a more comfortable environment with the variability of trade policies in the United States and decreased tensions. In the market, these developments are expected to continue. In addition, parallels are observed between US stocks and crypto money markets. In particular, the increase in the share of crypto currency companies such as Coinbase shows that investors are in a cautious optimism.
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Technical indicators support the rise
Technical analysis indicators reveal that the market is on its way to recovery. The total market value is currently at 2.95 trillion dollars. However, the market has the goal of crossing the resistance zone between 3.1-3,28 trillion dollars. This region is located at the intersection of the 50 and 100 -day averages. If these levels are exceeded, the probability of the market will increase.
The RSI (Relative Strength Index) indicator also points to recovery. The RSI value, which rises from 25 to 47, stands out as another sign that confirms that the market has healed. These technical signals show that investors see a safer environment in the market and the expectation of recovery is strengthened. In general, softening in technical indicators and trade tensions allows the crypto money market to move on a more solid foundation.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
