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 ), 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 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.