The cryptocurrency market has been turning to an upward trend after showing significant volatility in the past 24 hours. Easing geopolitical tensions and buying pressure from large investors are driving the market rebound.
Bitcoin Maintains Relative Strength Amid Volatility
Bitcoin is currently trading around 140 million won, rising 4.34% in the past 24 hours. After a temporary decline, it quickly rebounded, showing relative strength compared to other major coins. Experts analyzed that the easing of global geopolitical tensions had a positive impact on investment sentiment.
Ethereum Sees Strong Rebound on Iran-Israel Ceasefire News
Ethereum is trading around 3.3 million won, rising 7.63% in a day. With the agreement of a ceasefire between Iran and Israel, risk asset preference sentiment recovered, leading to a strong rebound. Recently, an increase in new wallets and buying pressure from large investors are also notable.
XRP Attempts Rebound After Falling Below Major Support Line
XRP is trading at 2,943 won, attempting a rebound after falling below the major support line. It has risen 6.89% in the past 24 hours, but additional momentum is needed to break through the technical resistance line.
Solana (SOL), Key to Recovering Major Support Line
Solana has turned to an upward trend, trading around 196,000 won. In the past 24 hours, an abnormal rise was recorded, seemingly due to data error, but the recent rebound is interpreted as a result of some investor buying pressure. To continue the upward trend, recovery of the technical support line is necessary.
Future Outlook for Cryptocurrency Market
The cryptocurrency market continues to show high volatility and is sensitive to geopolitical factors and global financial environment changes. Bitcoin's relative strength and Ethereum's network growth are drawing attention, while the direction of XRP and Solana will depend on their technical recovery.
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