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Cryptocurrency News Articles

The cryptocurrency market is entering a new phase of bullish momentum

May 09, 2025 at 08:00 pm

Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Toncoin (TON) are showing strong upside activity. These four digital assets have not only surged in price but also witnessed substantial spikes in trading volume.

The cryptocurrency market is entering a new phase of bullish momentum

Cryptocurrency market is witnessing a new phase of bullish momentum as Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Toncoin (TON) are displaying strong upside activity.

Over the last 24 hours, these four digital assets not only surged in price but also witnessed substantial spikes in trading volume. Investors are now closely watching these coins as they approach critical resistance levels.

Current price action suggests that the market could gear up for more gains if key support areas hold firm.

Ethereum (ETH) Leads with Powerful Rally, Eyes Price Discovery

Ethereum has delivered a powerful performance, climbing over 24% in a single day to trade at $2,411.05 at the time of writing. This rally began around $1,927 and has since moved steadily upward, supported by a 124% rise in volume. The surge indicates renewed investor confidence and the potential for Ethereum to break into a fresh price discovery zone.

Support lies at $2,100 and $2,000, both of which acted as previous resistance points. Holding above these levels would confirm the strength of the current trend. Resistance around $2,450–$2,500 may trigger short-term profit-taking, but a sustained close above $2,411 could open the door to further gains.

Binance Coin (BNB) Shows Steady Climb, Solana (SOL) Surges Fast

BNB is experiencing a more measured yet consistent uptrend. Trading at $632.74, it has recorded a 2.55% daily gain. Volume has grown by nearly 29%, reflecting solid participation. The coin faces resistance between $635 and $640, with a breakout above likely pushing it toward $650 or higher.

Support at $625 and $620 offers a cushion for any minor pullbacks. These levels present potential entry points for swing traders eyeing continuation of the trend.

Solana, on the other hand, is moving at a faster pace, posting an 8.76% daily gain to reach $166.24. The immediate target lies at $170, while a move above could propel SOL toward the $180 mark. If the coin stays above the $160 level, bullish pressure is expected to persist.

Toncoin (TON) Emerges as Breakout Candidate with Strong Volume

Toncoin is emerging as a breakout candidate after a strong push to $3.29, gaining over 5% in 24 hours. Volume spiked by a massive 135%, suggesting increasing market enthusiasm. Immediate resistance rests at $3.35, with a potential move to $3.50 if buyers remain in control.

Support around $3.20 and $3.15 reinforces TON’s bullish setup. Holding above these levels would keep the uptrend intact.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

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Other articles published on May 10, 2025