Here’s The Boundary Bitcoin Bulls Must Defend To Save Rally
On-chain analytics firm Glassnode has revealed where a Bitcoin level historically seen as a key battleground between bulls and bears currently lies. Bitcoin Short-Term Holder Cost Basis Is Situated At $111,400 Right Now In a new post on X, Glassnode has talked about the Bitcoin Realized Price of the short-term holders. The “Realized Price” is an on-chain indicator that measures, in short, the average cost basis or acquisition level of the average investor on the BTC network. Related Reading: Bitcoin Fear & Greed Index Signals ‘Fear’ As Price Falls To $112,000 When the spot....
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Bitcoin’s price action has not been encouraging for bulls as of late Following a short-lived bout of trading above $11,000, the cryptocurrency ultimately faced a harsh rejection at $11,200 The decline from these highs has been intense, leading the cryptocurrency to slide down to lows of $10,400 that were revisited this morning BTC now appears to be caught within a trading range with a lower boundary at $10,400 and an upper boundary around $10,600 Traders […]
Chainlink’s price has been caught within a tight and prolonged consolidation phase throughout the past few days and weeks, with buyers and sellers being unable to gain any clear control over its mid-term outlook. Its price action has been moving in lockstep with that of Bitcoin, signaling that it may be losing the independence that […]
Bitcoin has seen some mixed price action as of late, with bulls struggling to defend the cryptocurrency against a break below $40,000 as bears try to reverse its momentum The crypto’s ability to hold above this level is promising, but it remains unclear as to how long it will hold If bulls can flip this previous resistance level into support, it could prove to be a strong base for the crypto to grow upon in […]
Crypto analyst Ali Martinez predicted that the Dogecoin price could rally significantly, leading to double figures for DOGE. This comes as the crypto market continues to trend upward, with Dogecoin standing out as one of the top gainers. Dogecoin Price To Explode And Reach $18 In an X post, Martinez predicted that the Dogecoin price could explode by 4,500% and rally to $18. He stated that this will happen through a test of the middle or upper boundary of the channel, which puts the DOGE target at $2.40 or $18. Dogecoin will need to test the upper boundary to reach the $18 target, while....
Ethereum has been caught in a wild bout of turbulence these past few days, primarily because of its recent breakout rally that allowed it to gain serious ground against Bitcoin The cryptocurrency has been able to flip the crucial $1,000 level into support, and bulls are in the process of defending it presently It is imperative that bulls can continue defending this level in the near-term, as any dip below it could lead to a […]