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Today the digital asset sector has experienced quite a volatile day, with the whole of the market having observed a 3% sharp decline over the past twenty-four hours. In market corrections affecting major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB), and Chainlink (LINK), considerations have been made on the possible catalysts for these downsides.
Bitcoin did show a brief moment of resilience but still recorded an almost 3% fall from its previous session, changing hands at $61,035.66 around noon time. This trend was also witnessed in other leading altcoins such as Ethereum, Tether, Dogecoin, Avalanche, and Shiba Inu which depreciated by up to 2.5%. However, altcoins including Solana, XRP, Toncoin, Cardano, and Tron gained up to 2%, demonstrating diverse movements across crypto space indicating global financial markets’ dynamics and shifts in investor sentiment.
While broader pullbacks are being observed in cryptocurrency markets, some assets like zkSync(ZK),Conflux(CFX)and UNUS SED LEO(LEO) have displayed resilience hence they are among top gainers.
ZkSync has become today's leading gainer exhibiting strong bullish movement in its price developments. The four-hour chart shows a rally from near $0.175 towards $0.1842’s peak level.This is supported by a bullish RSI that is above level fifty implying strong buying momentum.
The moving average lines have crossed into bullish formation indicating continued positive sentiment among traders.ZkSync looks set for more gains if it maintains momentum above critical support at $0.180 given the current trend.
Conflux’s technical chart is characterized by a consistent uptrend that resulted in higher lows from $0.156 to a peak at $0.176.It suggests an ongoing consolidation, supported with a steady RSI at around 55 which means it’s still growing without becoming overbought.
The Bollinger Bands on Conflux’s chart are starting to squeeze signalling reduced volatility in the market and potentially setting up for a strong breakout if the price can sustain above the $0.170 resistance level.
Unus Sed Leo also appeared as one of top gainers. Known for its intricate involvement within Bitfinex trading ecosystem, LEO provides traders with utility through lower fees and other benefits on the platform.
UNUS SED LEO presents a slightly more complex technical picture. On the four-hour chart, there appears to be some sideways range trading with prices oscillating between $5.70 and $5.98.Currently stabilizing near $5.84 together with RSI moving towards 50 signifies an equilibrium market condition where buyers’ and sellers’ pressures are equal.Peak prices being close to upper Bollinger Band may indicate potential resistance around $5.98.For any bullish breakout however, LEO must consistently close above it, possibly triggering retest of new resistance at $6.00 mark.
