Bulls Take Charge: 1INCH, ARB, and CFX Rally to New Highs

According to coinmarketcap, the top gainers on the last day were 1-inch Network (1INCH), Arbitrum (ARB), and Conflux (CFX).

1inch Network (1INCH) 

Bullish momentum in the 1inch Network (1INCH) market has been strong in the previous 24 hours, with bulls taking the price from a 24-hour low of $0.512 to a new 30-day high of $0.5974 before encountering resistance. The bulls were still in the power of the market as of this writing, driving the 1INCH price to value at $0.572, an 11.54% increase, making it the top gainer.

If the bulls manage to break the new resistance level, the next resistance levels could be $0.6 and $0.65, respectively; however, if the bears take control, the price could drop to the support levels of $0.5 and $0.45.

During the bull run, market capitalization and 24-hour trading volume increased by 11.56% and 590.63%, respectively, to $477,499,218 and $221,809,021, suggesting increased demand and interest in the cryptocurrency, which could lead to more price increases if the bullish momentum continues.

Arbitrum (ARB) 

In the last 24 hours, bulls have completely controlled the Arbitrum (ARB) market, with bearish attempts to grab the market foiled after a brief slide to an intraday low of $1.21. In light of the bullish reluctance to maintain control of the ARB market, the price was up 8.34% to $1.31 as of press time while encountering resistance at the intra-day high of $1.42.

If the bulls maintain their pressure, they will eventually breach the $1.42 level. Resistance may be found at $1.50 and $1.60, respectively, since these levels have traditionally been regions of price consolidation and potential reversal points. 

If bears seize market control and force the price below the $1.35 support level, the next support levels to monitor may be at $1.30 and $1.20, respectively, as these levels have previously shown considerable buying activity.

During the upturn, the market capitalization and 24-hour trading volume increased by 8.05 and 91.82%, respectively, to $1,674,215,793 and $1,723,055,938. This growth in market capitalization and trading volume shows that investors are bullish, but it remains to be seen if the trend will continue or if a correction will occur in the near future.

Conflux (CFX) 

After a bearish start to the day that saw the price fall to an intra-day low of $0.3829, bulls have dominated the CFX market, driving the price to a 7-day high of $0.4395 before hitting resistance. Because of the CFX bulls’ resilience, they did not yield despite encountering resistance, resulting in a 2.30% increase in price to $0.3948 at the time of publication.

If the bullish surge continues, it may break through the 7-day high, with potential resistance at $0.45 and $0.50. Investors should stay cautious, though, because a correction may occur if profit-taking occurs or if any unfavorable developments materialize in the market. If this happens and the $0.3829 support level is breached, the next major support levels might be $0.3556 and $0.3283, respectively.

Over the period of the recovery, the market capitalization increased by 2.98%, while the 24-hour trading volume increased by 53.24%, reaching $1,055,566,331 and $749,160,225, respectively. This increase implies that investors are confident about the rebound and are enthusiastically buying the asset at the current price level.

In conclusion, the top gainers of the day – 1inch Network (1INCH), Arbitrum (ARB), and Conflux (CFX) – have all shown bullish momentum, with investors expressing confidence in their potential. However, caution is advised, as corrections may occur.

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