Bitcoin Struggles to Break Resistance
The crypto market is at a crucial juncture, with Bitcoin facing significant resistance at $38,000 and altcoins trying to maintain their recent gains.
Bitcoin’s Price Range
Bitcoin is still attempting to breach the $38,000 level, but initial indications suggest that it may face rejection again. However, there are signs of an ascending triangle forming, potentially leading to a breakout.
Source: Trading View
Ethereum’s Flag Situation
Altcoins are either consolidating their gains or experiencing a slight retracement. Ethereum has broken out of its bull flag, providing confirmation for a potential move. The next move for $ETH will be crucial for the entire altcoin market.
Source: Trading View
Injective’s Performance
Injective, a popular decentralized crypto project, saw a 12% gain on Wednesday, which slightly decreased on Thursday. The price appears to be rolling over since the local top on 11 November. It’s important for $INJ to hold the current support to avoid a bearish outcome.
Source: Trading View
Hot Take: Market Uncertainty Continues
Bitcoin is facing resistance, altcoins are at a turning point, and Injective’s performance is uncertain. The next moves for these key players will determine the direction of the overall crypto market.
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