Bitcoin Price Analysis
– BTC is trading at $31,027, up 1.23% in the past 24 hours.
– Bitcoin is testing an important resistance at $31,000.
– If successful, the next resistance is at $32,500.
– Failure to clear the $36,000 zone could lead to a retreat below $30,000.
Ethereum Price Analysis
– Ethereum is changing hands at $1,959, slipping 0.1% on the day.
– ETH secured a bullish break after clearing the descending trend line.
– The next resistance levels are $2,000 and $2,150.
XRP Price Analysis
– XRP’s price stood at $0.49, up 0.5% on the 1-day chart.
– XRP has been trading sideways around the 100-daily moving average.
– Bulls need to clear the 200-weekly moving average before reaching $0.55 and $0.60.
BNB Price Analysis
– BNB is trading at $245.66, down 1.1% on the day.
– Binance coin lost almost 20% on the month due to regulatory challenges.
– The price action fell below the ascending trend line, acting as resistance at $260.
DOGE Price Analysis
– DOGE climbed over 1.2% to $0.07 in the past 24 hours.
– The meme coin is trading sideways with resistance at $0.07.
– Support is provided at $0.055.
ADA Price Analysis
– ADA’s price stood at $0.30, edging 1.13% higher on the day.
– Cardano fell almost 22% over the past 30 days due to regulatory challenges.
– The price action is waiting for Bitcoin to break higher to clear resistance at $0.3.
Final Thoughts
Bitcoin and major altcoins have experienced an uptrend, driven by positive investor sentiment. Despite regulatory challenges, most cryptocurrencies are performing well. Investors should keep an eye on the altcoin market as well.
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