Crypto price today Mar 5th: the crypto market seems to be extending its correction phase that started in February 2023. As a result, the market leaders and numerous altcoins faced further downfall, maximizing the pain of short-term holders. However, today, we will analyze the potential of the top gainers and losers in the crypto space over the last 24 hours, with the aim of determining their future growth prospects amidst the prevailing market uncertainties.
As of 7:18 am on Sunday, the global cryptocurrency market capitalization stands at $1.03 trillion showcasing a slight gain of 0.02% compared to the previous day. Moreover, for the same period, the total crypto market volume is $30.15 Billion, reflecting a drop of 13.3%.
In the 4-hour time frame chart, the SingularityNET coin shows a bearish retest to the local resistance of $0.48. The several higher price rejection candles at this aforementioned resistance indicate the traders are aggressively selling this level which increases the likelihood of the downtrend resumption.
Currently, the coin price trades at $0.477 and represents 11.65% growth in the last 24 hours. However, the potential downfall may plunge the AGIX price 8% down to revisit the combined support of the ascending trendline and $0.441. This strong support could assist buyers to replenish the bullish momentum and resume their prior recovery.
In the daily time frame chart, the ImmutableX coin shows the formation of a cup and handle pattern. The ongoing correction in this coin is the development of the handle portion which is meant to check price sustainability at higher levels.
By the press time, the IMX price trades at $1.062 with an intraday gain of 6.73%. Under the influence of this pattern, the coin price recently rebounded from the $0.933 support and should climb back to the $1.284 neckline resistance of this pattern.
The last six months’ price action in EOS coin shows a textbook example of a rounding bottom pattern. With this pattern in control, the price could witness a parabolic recovery until it hits the $1.871 neckline resistance.
As of now, the EOS price trades at 1.219 with an intraday loss of 0.57%. Anyhow, the coin holders can expect a sustained recovery until the 50-day EMA dynamic support is intact.
The ongoing correction in Stacks coin price is more likely a temporary pullback after its explosive rally in the second half of February. Amid this correction, the altcoin registered a 28.6% loss and plunged to the 0.382 Fibonacci retracement level.
Today, the STX price jumps 1.48% and tries to resume a bullish recovery from the $0.382FIB support. However, in case the price breaches this support as well, the traders can expect significant demand at 0.5FIB at $0.63, followed by 0.618 FIB at $0.528.
The post Crypto Price Today Mar 5th: Top Gainers and Losers appeared first on CoinGape.
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