Market Recovery to the right path

The market began to gradually return to the right track after many attempts that failed in the recent period and was trapped below 42 thousand dollars, but a good return from the cryptocurrency market, which settled again above 2 trillion dollars by about 74 billion dollars.

In the meantime, the bitcoin rose to reach the level of 43,600 dollars, a daily increase of 1%, while over the weekly term, the green color returned to us again, reaching about 2%, a weekly increase, and we are a few steps away from breaking the barrier of 44 thousand dollars.

It is very nice to find cryptocurrencies tracking Bitcoin so quickly and continuing to rise wonderfully to reach the same value as the rise that Bitcoin has reached. Some currencies exceeded this percentage and reached 12% such as Harmony and 9% such as XMR, while the rest of the currencies of the first centers rose by a similar rate Bitcoin is about 2%.

Ethereum, whose price reached 3400 dollars after it was threatened by the last decline from breaking the 3000 dollars barrier and declining more and more, but it regained its value after the recent activity in the market, Binance also returned to rise and reached about 479 dollars, an increase of about 2%, which brought it back to its third position Behind Ethereum.

As for the great activity that happened to Solana, it pushed it to rise again to about $150, by 5%, which made it settle in fifth place, followed by USDC, ADA, XRP and Terra.

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What Then ?

If the cryptocurrency continues with this momentum and the Bitcoin rises above 45 thousand dollars, the fear indicator will decrease more than it may push the cryptocurrencies to return again to the right path and the bull will return to the picture again.

As for betting on shorts or longs, I do not recommend it at the present time, especially with the instability of the market and the absence of any positive news looming in the atmosphere, so Hodl and waiting is the best solution at the present time.

Purchasing some currencies of this level is not bad, as there are still many cryptocurrencies whose level is still significantly low and still needs to rise in the coming days until it reaches its previous level. I recommend Solana and ADA for the long term.

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Thank You