Author: Sollcrypto
Bitcoin maintains its upward momentum above the $52,000 resistance level, consolidating gains and potentially targeting further increases towards the $55,000 resistance. Positive indications are evident as Bitcoin exhibits strength below the $52,800 resistance zone. The price is currently trading above $51,500 and the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair from Kraken, a bullish trend line is forming, connecting with support at $51,500. The potential for continued upward movement remains if the pair successfully surpasses the $52,800 resistance zone. Bitcoin’s price is set on pursuing additional gains. Bitcoin’s price surged beyond the $51,200 resistance area,…
As per a recent Spot On Chain report, Bitcoin appears to be teetering on the brink of a significant downturn. Despite recently surpassing the $52,000 threshold and trading above it for the first time since December 2021, the flagship cryptocurrency is confronted with potential hurdles that may impact its near-term market trajectory. The imminent occurrence of two substantial sell-off events is raising concerns about their potential influence on Bitcoin’s price dynamics, prompting a closer scrutiny of their potential impacts on the cryptocurrency market. Impending Significant Sell-Offs in the Bitcoin Market The initial event involves Genesis, a prominent cryptocurrency asset manager…
Maintaining emotional resilience is crucial during Bitcoin’s ongoing bull market. Investors should remain calm in the face of minor price fluctuations to avoid unnecessary panic. The emergence of a golden bull phase in the cryptocurrency market, particularly in Bitcoin, suggests the potential for new all-time highs. However, this optimistic trend also brings heightened volatility, with occasional price drops that may challenge investors’ emotional fortitude. Successfully navigating this market requires not only sound financial strategies but also the ability to manage emotions amid the inevitable market fluctuations. In the volatile realm of cryptocurrency, minor price shifts, such as 1% dumps, are…
Ethereum’s price is in a consolidation phase, maintaining gains above the $2,575 support level. The potential for a significant rally exists if the price successfully closes above the $2,700 resistance. Currently, Ethereum is trading above $2,620 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD, a short-term breakout pattern is emerging, with resistance at $2,640. The pair may initiate a new uptrend if it sustains its position above the $2,575 support zone. Ethereum’s price is poised for another upward movement. Ethereum’s price gained momentum, surpassing the $2,600 threshold and approaching the $2,700 resistance zone. Reaching as high…
Bitcoin has officially transitioned into the third phase of its bull run, commonly referred to as the “golden bull era.” This milestone was initiated by a breakthrough above the 48k mark, generating anticipation of an imminent all-time high for Bitcoin. Investors and enthusiasts are eagerly observing this development, recognizing it as a crucial turning point that confirms the bullish sentiment and underscores Bitcoin’s upward trajectory. The third phase, often characterized by accelerated market momentum and increased adoption, has stirred excitement and optimism within the crypto community. The recent breakout above 48k is seen as a key indicator of the market’s…
Ethereum has seen a 5% uptick, making a push towards $2,700. Currently consolidating gains, there is potential for a further move towards $2,800 or even $3,000. The consolidation phase is taking place below the $2,700 resistance level, with the current price maintaining above $2,600 and the 100-hourly Simple Moving Average. Notably, a bullish flag pattern was breached with resistance at $2,500 on the hourly chart of ETH/USD via Kraken’s data feed. Sustaining above the $2,630 support zone could pave the way for a fresh upward movement in the pair. Ethereum initiates a new upward surge in its price. The Ethereum…
Bitcoin price climbed higher above the $48,000 resistance. BTC tested $48,800 and is currently showing signs of a downside correction. Bitcoin Price Enters Positive Territory Bitcoin’s value initiated a significant uptrend, surpassing the resistance at $45,500. Negotiating through obstacles around $46,000 and $47,200, BTC ventured further into positive territory. Bullish momentum strengthened, propelling the price above the $48,000 resistance and testing the $48,800 zone. A fresh multi-week peak materialized at around $48,775, with the price presently consolidating its gains. Although there was a brief dip below the $48,500 level, the decline was minor. The price retraced below the 23.6% Fibonacci…
Analysis of Bitcoin in the medium term. Examining the Bitcoin price chart reveals that Bitcoin is currently positioned at $48,400. Should BTC successfully close daily candles above $48,200, there is potential for it to ascend to $50,777. Reaching $50,777 would signify a crucial weekly resistance level for Bitcoin. Investors, especially those engaged in futures trading, are advised to exercise caution within the $50,777 – $52,000 range. In the cryptocurrency market, it’s common to witness corrections and downward movements before considering spot investments. Investing during upward price trends carries inherent risks. If Bitcoin initiates a downward movement from the specified $50,777…
Dogecoin (DOGE), the cryptocurrency inspired by memes, has exhibited a considerable volume gap on the trading charts, as reported by market analysts. Originally conceived as a joke, Dogecoin has garnered a substantial following and is now drawing attention due to a noticeable difference in trading volumes at various price levels, referred to as a “volume gap.” This technical observation has piqued the interest of both traders and analysts, as it may suggest potential price movements for the cryptocurrency. Comprehending the concept of a volume gap. In the realm of asset trading, a volume gap denotes a specific range on a…
Ethereum (ETH) may face a notable decline if recent developments ultimately influence its price. On February 10, Lookonchain verified that Jeffrey Wilcke, co-founder of Ethereum, moved 4,300 ETH, worth $10.7 million, to the Kraken cryptocurrency exchange. When a substantial amount of cryptocurrency is transferred to an exchange, it typically indicates the involved party’s readiness to sell. This occurrence prompted conversations among market observers and investors, raising questions about why a founding member of the project would choose to divest at this particular juncture. A significant participant enters the scene. In November 2023, Coin Edition reported on the sale of 100…