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What’s the Latest Situation in Bitcoin (BTC) and Altcoins?

After trading below $40,000 for a while, Bitcoin once again surpassed this level. So how was the market affected by this increase in BTC?

What’s the Latest Situation in Bitcoin (BTC) and Altcoins?

While the leading cryptocurrency Bitcoin ( BTC ) has been trading under $ 40,000 for a while, it started a sudden increase as of the past day and rose above the $ 40,000 level.

With this increase in Bitcoin, many altcoins also turned their direction up. Here are the latest status and current levels in Bitcoin and altcoins.

Bitcoin (BTC)

Bitcoin ( BTC ), the world’s largest cryptocurrency by market cap, is showing positive signs above $39,500. However, BTC must surpass $40,250 to continue rising in the near term.

Leading cryptocurrency Bitcoin started a fresh recovery wave above the $38,500 resistance level and broke the $39,250 and $39,500 resistance levels to move into positive territory.

Bitcoin (BTC)
Bitcoin (BTC)

Bitcoin price , on the other hand , is currently trading above the $40,000 resistance and the 100 hourly simple moving average.

On the upside, the first resistance is near the $40,000 level and the next key resistance could be near the $40,250 area. Therefore, a close above the $40,250 level could open the doors for a reasonable increase. In the stated case, the price might even surpass the $40,800 resistance.

However , if Bitcoin fails to break past the $40,250 resistance zone, it could start a fresh decline. In this case, a drop to the $39,750 level, which is the first support on the downside, is possible.

The next major support is seen near the trend line at $39,580. A clear break below the trendline support and $39,500 could open the doors for a fresh decline. In this case, the price may decline to the $39,000 level again. Any more losses may require a test of the $38,400 support.

Latest Situation in Altcoins

This price increase in Bitcoin also pushed Ethereum , the second largest cryptocurrency . So much so that the leading altcoin ETH, while trading below the $ 2,900 level, reached almost $ 3,000 during the day.

Ethereum started a new uptrend with BTC increasing and managed to rise to the level of $ 2,973.

As of the time of writing, Ethereum (ETH) continues to trade at $ 2,928, with a 1.58% increase in the last 24 hours, according to CoinMarketCap data.

When we look at other cryptocurrencies in the top 10, the situation is as follows;

Binance Coin (BNB) continues to trade at $405, up 4.06% in the last 24 hours, Solana (SOL) is up 0.63% at $98 in the last 24 hours, Ripple (XRP) is up 0.20% in the last 24 hours. It is down 0.64 to trade at $0.64, Terra (LUNA) is down 0.40% to $88 in the last 24 hours,  Cardano (ADA) is up 0.35% to $0.84 in the last 24 hours, and Dogecoin (DOGE) is down 0.87% to $0.1375 in the last 24 hours. continues.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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