Crypto Market Watch: BTC, ETH, SOL, TIA Rebound

Bitcoin recorded its highest daily profit this year, surging nearly 15% on Thursday. The flagship cryptocurrency broke through multiple resistance levels to reclaim the $60,000 mark, marking a significant recovery from the August 5th crypto market crash.

TradingView’s data show BTC opened trading on Thursday at $55,132, just above the 0.236 Fibonacci level. A classic intraday uptrend characterized the surge, with intermittent pullbacks interrupting the price rally at regular intervals. Bitcoin broke through the 0.382, 0.5, and 0.618 Fibonacci levels on the daily chart, reaching a daily high of $62,729 before closing at $61,699, slightly below the 0.618 Fibonacci level.

Ethereum surged alongside Bitcoin, posting a 17.5% daily gain in its recovery move from last Monday’s market crash. The top altcoin rediscovered its upside momentum and broke above the 0.236 and 0.382 Fibonacci levels on the daily chart. Ethereum’s Thursday rally pushed the price above $2,500, opening the way for ETH to target the $3,000 psychological level.

Meanwhile, Ethereum traded for $2,695 as of writing, with the price resting above the 0.382 Fibonacci level. The top altcoin’s next horizontal resistance is around $2,842, comprising a combination of the 0.5 Fibonacci and a double swing low established during ETH’s previous pullback.

Solana continued its remarkable rebound with a 15.5% surge on Thursday, pulling further away from last Monday’s swing low. SOL bounced off the 0.382 Fibonacci resistance on the daily chart and climbed above its 0.5 and 0.618 Fibonacci levels in a surging move.

Thursday’s rally pushed Solana above $160, as its price closed at $163.18. However, the altcoin retraced slightly on Friday morning, dropping to $154.65 before resuming the upward movement. SOL traded for $158.96 at the time of writing, according to data from TradingView.

TIA joined the recovering cryptocurrencies by surging 27.75% on Thursday. The Celestia blockchain’s native token rebounded from a $4.474 daily low and rallied to $5.710. Notably, TIA broke through the 0.236 and 0.386 Fibonacci levels during the rally before closing the day at $5.668, per TradingView’s data.

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