The prices of the top 10 coins remain in the red zone, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.93% over the past 24 hours.
On the hourly chart, Bitcoin (BTC) is gaining momentum following a false breakout at the local support level of $60,703. If the daily candle closes near resistance, the upward movement is expected to continue, potentially reaching the $62,400 range.
On the larger time frame, it’s still too early to anticipate a quick reversal. However, the key area to watch is the $60,000 zone. If this level is breached, the built-up momentum could drive the price down to test the $59,000 mark in the near future.
From a midterm perspective, Bitcoin’s price remains distant from key levels, suggesting a low likelihood of any sharp movements in the near future. This outlook is further supported by declining trading volume.
At press time, Bitcoin is trading at $61,222.