Cryptocurrency Market Remains Steady with Bitcoin Above $78,000

The cryptocurrency market is maintaining its risk appetite, with Bitcoin (BTC) hovering above $78,000 on Friday. This resilience has been attributed to institutional and Wall Street adoption, increased M2 liquidity, and the possibility of Iran using BTC for toll payments.

Zcash (ZEC), Chiliz (CHZ), and Algorand (ALGO) have emerged as top performers over the last 24 hours. Zcash is trading at $344, having risen by 8% in the previous day, with support coming from its positioning above key moving averages.

Chiliz has reclaimed the 50% retracement level and continues to hold above both the 50-day and 200-day EMAs. The trend momentum remains strong, with expanding histogram bars suggesting upside pressure persists. Immediate resistance is seen at the 78.6% Fibonacci retracement level.

Algorand is trading above $0.1000 but remains below the 200-day EMA and a descending resistance trend line. The RSI signals balanced momentum after exiting oversold territory, while the negative MACD histogram suggests tentative bullish momentum.