Analysts identify $40K as the make or break it level for Bitcoin price
Traders identify $40,000 as the pivotal level Bitcoin price needs to trade above in order to avoid a revisit of July’s swing low. Optimism from bulls is the leading sentiment of the day after Bitcoin (BTC) price made its way back toward the psychologically important $40,000 level. In addition to the reversal from this week's local low at $37,500, Gary Gensler, the chair of the United States Securities and Exchange Commission issued positive comments about the crypto industry and reaffirmed the goal of ironing out fraud in the ecosystem. BTC/USDT 4-hour chart. Source: TradingViewNow that....
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The crypto market has recorded massive losses since May 2022. After the Federal Reserve announced and kicked off interest rate hikes, prices tanked due to selling pressure. Many crypto investors and operators of diverse solutions have faced different crises from market moves. But it seems the end is not near yet. Even as the Merge date has finally come, analysts predict a price plunge for Bitcoin. Going by past market moves, a fall in BTC price causes altcoins to plummet and vice versa. So, this analysis is not what investors expect. Related Reading: Binance Coin Struggles Below $290....
Bitcoin whale inflows are increasing as the price of BTC struggles to break past $19,500. Since hitting a new all-time high, Bitcoin (BTC) price has been unable to flip the $19,400 level to support. This is likely due to the possibility that whales are selling aggressively in the $19,400 to $19,600 range to prevent the all-time high from being breached. Above the record high, there is little resistance until a new ceiling is achieved.Bitcoin whale inflows into exchanges. Source: CryptoQuantWhales keep selling each time BTC nears the all-time high Data from both CryptoQuant and Whalemap....
Litecoin price is in a corrective stage after a recent deep falling. The price move stopped at about $3, and wants to make an ascending movement to 3.20. However, it won’t be easy, as it must first break through the level of $3.10, but the triangle of the technical analysis presses it down to $2.90. Now it can only hope for Bitcoin to rise as LTC:BTC exchange rates can't overcome the level of 0.008 anyway. DASH continues its correctional movement as well. The next target is the level of 0.01. The movement is strong therefore soon it is hardly worth expecting the price going higher than....
Ethereum Price Key Highlights. Ethereum price had been on a downtrend but is now forming a reversal pattern, signaling that an uptrend might be in the cards. Price still has to test the neckline at the 0.00230 level and make an upside break before confirming the potential rally. Ethereum price seems to be exhausted from its recent selloff, creating a double bottom after failing to break below the 0.00180 area. Bitcoin Price Weakness. Ethereum price took advantage of the bitcoin selloff that took place during the FOMC statement, as the Fed's decision to hike interest rates spurred demand....
While Bitcoin explodes past $17,000, Ethereum has seen only tempered momentum That being said, the crypto was able to break above a crucial resistance level today, and is trying to gain a footing above $470 This has led one analyst to expect significantly further upside in the near-term He believes that $480 is the next key level that ETH will target, with a break above here being vital for it to see a strong push […]