Home Crypto Bitcoin (BTC) price struggles with resistance, these altcoins can still rise fast!

Bitcoin (BTC) price struggles with resistance, these altcoins can still rise fast!

Bitcoin (BTC) price struggles with resistance, these altcoins can still rise fast!

While the bitcoin (BTC) price has been limping against some resistance in recent hours, the rest of the crypto prices also seem to be consolidating. A number of altcoins are even falling slightly after rising 24 hours ago, when most prices saw a small boost. How are things now? You can read it in this market update.

Bitcoin (BTC) Bulls Fighting at $48,000

Starting with the bitcoin price. Since the volatile day Litecoin (LTC) announced it would partner with Walmart, which later turned out to be completely wrong, BTC has almost jumped 20% in value. It has been since last night that bitcoin has encountered resistance for the first time.

That is not surprising in this price range. The $48,000 offers resistance here as expected and we also find the 200-moving average (MA) on the 4-hour chart and the centerline of the Bollinger Bands on the daily chart. In short, not just any price zone that the bulls seem to be zooming through.

The analyst Nebraskan Gooner does not like to see the bitcoin price fall below this again. Should that happen, he foresees further declines back towards $41,000:

“I don’t want us to break below this red resistance zone or we would probably see this scenario I mapped out a few days ago.”

Ethereum (ETH) is the only one in the plus

So, while bitcoin is consolidating and, with a price of $48,040, it is down about 0.6%, the top 10 is also predominantly red. Ethereum (ETH) is still up 2.8% from 24 hours ago and is now worth $3,617. Cardano (ADA) notes a decline of 4%.

If we zoom out, we find some risers. Within the top 100, avalanche (AVAX) is the biggest climber with 26.5%. Behind it we find ren (REN) with an increase of almost 20%. It is therefore mainly the smaller altcoins that can rise significantly. Audius (AUDIO), horizen (ZEN) and sushi swap (SUSHI) are also doing well, rising double digits.

All in all, the effect on total market capitalization is virtually negligible. The market grew by just under 0.1% in the past 24 hours. Bitcoin’s dominance is therefore decreasing slightly and is now 41.4%, a decrease of 0.2%.

No Comments

Leave A Reply

Please enter your comment!
Please enter your name here

Exit mobile version