Bitcoin eyes $58K as spot-driven BTC bounce makes rally 'look sustainable'
Organic growth from spot traders opens up key resistance levels closer to $60,000 for BTC/USD, analysts argue. Bitcoin (BTC) is riding high on the back of a "very low and healthy" indicator, according to one market analyst, which could propel it to a key resistance level at $58,000.In a tweet on April 27, analyst Lex Moskovski noted that futures funding rates are suggesting this week's BTC price run has been completely organic. "Low and healthy" funding rates buoy bullsFunding rates are a popular metric for measuring the health of BTC price movements. They essentially show which traders....
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Bitcoin is currently approaching the critical $12,000 resistance level that analysts and investors have been closely watching throughout the past few days and weeks. Its rally up to this level has come about throughout the past 24-hours, without any significant catalyst. One interesting trend that has coincided with this upswing is a selloff amongst altcoins. […]
The price of Bitcoin dipped below $13,000 on Wednesday but despite the 7% drop in 11 hours, the market sentiment remains positive for three key reasons. The price of Bitcoin (BTC) fell below $13,000 on Oct. 28 shortly after hitting $13,850 at the day’s peak. Despite the 7% drop in 11 hours, however, the market sentiment remains positive for three key reasons.First, Bitcoin is still at where it was on Oct. 27, merely 24 hours ago. Second, BTC rose to $13,850, right below a multi-year resistance area at $13,873. Third, a marketwide drop was expected due to declining stablecoin inflows into....
Neucoin Price Key Highlights. Neucoin price has been sliding lower, mostly driven by bitcoin price strength in the past few days. This has taken price all the way down to its lows for the month at 0.000021, at which profit-taking might take place and pave the way for a quick bounce. Neucoin price could see a bit more upside from here, especially if traders book profits off their positions by the end of this month. Technicals Support a Bounce. Technical indicators are also suggesting that a bounce might be in order, as the selloff is overdone. Stochastic is in the oversold region, which....
The fund’s responsible entity partner received unique licensure which will give investors more transparent and direct exposure to bitcoin through a spot ETF.
The Cardano price is currently eyeing an impulsive move to the upside following the invalidation of a bearish Relative Strength Index (RSI) divergence. In his analysis, crypto analyst Melika Trader revealed how high ADA could rally following this bullish channel formation. Cardano Price Eyes Impulsive Move To The Upside In a TradingView post, Melika Trader predicted that the Cardano price could rally to between $0.90 and $0.94 as it eyes an impulsive move to the upside. The analyst observed that ADA recently experienced a sharp rally, breaking through resistance levels and establishing a....