The movement reflects the increase in global risk appetite that drives Wall Street to surge and the dollar to fall globally this Friday.
The cryptocurrency market is experiencing significant gains this Friday (22), with Ethereum (ETH) stealing the spotlight as it approaches its all-time high of about $4,900. At 1 PM, the second largest crypto in the world was trading at $4,634, accumulating a gain of 9.5% in the last 24 hours and over 28% in 30 days, according to data from CoinMarketCap.
The movement reflects the increased global risk appetite following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium, which also caused Wall Street indices to rise collectively and the dollar to weaken globally.
Powell reinforced the expectation of an interest rate cut in the United States in September. With the prospect of more abundant liquidity, digital assets, which may suffer more from a high-interest environment, are gaining strength again.
According to technical analyst Ana de Mattos, if the upward trend continues, the next targets for ETH are the price ranges of $4,788 and $4,868 – that is, below the current record, reached almost four years ago. 'The supports are in the liquidity regions of $4,180 and $3,920,' she assesses.
Bitcoin (BTC), the largest cryptocurrency in the market, was also advancing: it was priced at $116,547, up 3.5% in 24 hours. The asset has accumulated a valuation of 1.2% over seven days and almost 1% in 30 days, sustaining a market capitalization of over $2.3 trillion.
According to Ana, Bitcoin faces resistance at the price levels of $117,900 and $121,000, with short and medium-term supports at $111,500 and $105,000.
Among other highlights, XRP (XRP) was up 5.1% on the day, priced at $3.03, while Solana (SOL) jumped 7.3%, to $194. BNB (BNB) also followed the positive movement, advancing 4.3%, to $878.
The so-called meme coins were also reacting: Dogecoin (DOGE) had a valuation increase of 7.9% in the last 24 hours, priced at $0.232. Meanwhile, TRON (TRX) was up 2.5%, at $0.36.