Over the course of the last day, trading volumes on Bitcoin, Ethereum and Solana have surged into triple digits, indicating a potential acceleration of the ongoing rally and renewed investor enthusiasm. This has caused the cryptocurrency market to explode back into life.
Top-tier surge
Data indicates that one of the busiest trading days in recent months was marked by a +141% increase in the 24-hour trading volume of BTC, a +107% increase in ETH and a +97% increase in SOL. Currently trading close to $115,400 up about 2% for the day, Bitcoin continues to lead the movement. The price is currently above the 50-day and 100-day EMAs, indicating that buyers are taking back control of the market.
The asset has successfully recovered its short-term moving averages. This spike in activity implies that both retail and institutional traders are intervening, probably expecting a further push toward the resistance level between $118,000 and $120,000. After that, Ethereum saw a more notable increase, going up 4.5% to $4,168. The end of a brief downward trend has been indicated by the second-largest cryptocurrency’s recovery from the $3,900 support area and its subsequent break above its 200-day EMA.
Ethereum momentum spikes
The spike in ETH volume points to a flood of momentum as traders hoping to profit from the possible run toward $4,300-$4,400, where significant resistance is expected to be found. Keeping solid technical support above its 100-day EMA, Solana also joined the rally, rising almost 3% to $200. SOL‘s steady recovery from the $180 range demonstrates that investors and developers are still drawn to the network’s ecosystem, which was previously severely impacted by volatility.
These simultaneous increases in volume and price raise the possibility that the market as a whole is about to enter a new phase of expansion. The next leg may see Bitcoin test $120,000, Ethereum target $4.5K and Solana aim for $220+ if momentum continues. Currently, triple-digit volume growth in the most popular assets demonstrates that confidence and liquidity have returned to cryptocurrencies.
