beincrypto.com
The Total Crypto Market Cap (TOTALCAP) broke out from a crucial horizontal resistance area. Bitcoin (BTC) broke out from an ascending resistance line. Rocket Pool (RPL) broke down from an ascending support line.
In the news, the Binance exchange delisted Tron (TRX), causing a sharp price drop in the latter. After Texas, North Carolina could be the next state to ban Bitcoin mining.
Crypto Market Cap (TOTALCAP) Finally Breaks Out
The TOTALCAP broke out from the $1.15 trillion resistance area on April 9. The increase led to a high of $1.22 trillion two days later. Since the area had been in place since August 2022, a sharp upward movement is expected after the breakout.
If that occurs, TOTALCAP could move to the next resistance at $1.33 trillion. However, if the rally loses momentum, TOTALCAP could fall to the $1.14 trillion support area again.
Bitcoin (BTC) Price Accelerates Rate Of Increase
The Bitcoin price has increased since breaking out from an ascending resistance line and validating it as support on March 27 (green icon). The increase accelerated on April 9, leading to a new yearly high of $30,550.
If the upward movement continues, the price could reach the next resistance at $31,900. However, if the rally loses steam, BTC could fall to the ascending resistance line at $28,000.
Rocket Pool (RPL) Falls After Rejection
The RPL price has increased alongside an ascending support line since March 10. The movement led to a high of $49.50 on April 5. However, the price was rejected by the 0.618 Fib retracement resistance area and fell afterwards. It broke down from an ascending support line on April 12.
If the decrease continues, the closest support area will be at $38. On the other hand, reclaiming the line would lead to another breakout attempt above $47.80.