The crypto market has continued to show its resilience once more as it eyes a weekend recovery. After recovering slightly on Saturday, following Friday’s strong market dip, the market has continued to rise once more on Sunday as the new week kicks in. 

Bitcoin and Ethereum, as well as some altcoins have also shown signs of recovery. BTC for instance, is edging towards $118,000 after dipping to $117,000 level on Friday. On the other hand, ETH too has stayed strongly above $4,400, as it eyes a stronger recovery to last week’s highs. 

$35B Added to the Crypto Market Over the Last 24 Hours

As the market recovers, investors have begun showing conviction in the crypto market once more. Over the last 24 hours, these investors have added a total of $35.29 billion to the market, as per data by TradingView. This addition now pushes the total crypto market cap (TOTAL) to $3.95 trillion. 

With the market now recovering from the dip to $3.90 trillion level, market participants envision an upward momentum. However, the TOTAL could face resistance at $4.01 trillion level. A breach of this resistance could send the crypto market towards $4.1 trillion, potentially achieving a new all-time high. 

On the downside, if the market fails to hold the current level, it could continue to dip. Immediate support lies around $3.89 trillion level. In case of a deeper dive, the market could move towards the next support at $3.81 trillion or even lower to $3.68 trillion. 

Bitcoin Finds Support, Aims to Bounce Back 

After facing turmoil led by hot inflation data, as per the US Producer Price Index (PPI), Bitcoin is now back on track to recovery. The coin has strongly held the $117,000 level, as it eyes more gains. As of this writing, the daily chart on TradingView shows that BTC is trading at $117,968. 

For BTC to continue in an upward price movement, bulls must take control. This will be crucial to push BTC towards last week’s highs. But, the cryptocurrency could face resistance around $120,115. Breaking this resistance could open the door for more gains with the next resistance at $122,118 level. 

However, if investor confidence fades, BTC could lose momentum. If that happens, Bitcoin could drop towards the support at $116,459. Further downturn could push the price down to the next support at $114,190. 

Ethereum Regains Slight Momentum 

Besides Bitcoin, Ethereum (ETH) too is regaining bullish momentum. The coin has finally recorded a green candle after 3 continuous days of red ones. As per data by TradingView, Ethereum is now trading at $4,463 marking close to 1% surge on the day. 

While Ethereum slipped up following a strong bullish rally, investors now seem to be regaining confidence. This could be crucial for Ethereum to regain full thrust. However, the coin must surge past the resistance at $4,591 to confirm strong recovery. The next resistance lies around $4,754 and achieving it could confirm continued bullish momentum. 

In case Ethereum fails to hold the current level, coupled by investors securing profits, the price may fall. ETH currently has strong support at $4,373 level but a deeper dive could push it towards the next support at $4,205. Investors must thus express caution despite signs of recovery.