The cryptocurrency market seems to be facing substantial resistance. Bitcoin (BTC) climbed to $85,000 but has since dipped to the $84,000 level. The global crypto market cap has dropped 3.2% in the last 24 hours to $2.86 trillion.
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Cryptocurrencies Face Resistance
BTC may be facing significant resistance at the $85,000 price level. The cryptocurrency market rallied slightly over the last few days after the Fed kept interest rates unchanged. The rally could also be due to a new SEC chair assuming office on Mar. 27. Paul Atkins will replace Gary Gensler as the new head of the financial watchdog.
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The cryptocurrency market may be entering a sideways phase. Let’s look at a few coins you should watch over the coming weekend.
Top 3 Cryptocurrencies To Watch This Weekend
1. Bitcoin (BTC):
BTC is the market leader. Other assets follow BTC’s trajectory the majority of the time. BTC is facing substantial resistance around current price levels. If BTC rallies, other assets will likely follow suit. The original cryptocurrency could enter another bullish phase over the coming weeks.
2. Ripple (XRP):
Ripple’s XRP token experienced a massive surge as the SEC dropped its appeal against the fintech company. The development has cleared the road for the cryptocurrency to climb to new highs. XRP should definitely be on your watchlist for the foreseeable future.
3. Toncoin (TON):
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TON is another cryptocurrency that experienced a rally while the market was struggling. TON’s rally was likely due to its founder, Pavel Durov, being allowed to leave France for Dubai for the first time since his arrest in August 2024. Durov was taken into custody for allegedly failing to minimize criminal activity on Telegram.