Bitcoin Price Preparing To Rise! What is the Latest Situation in Altcoins?


Cryptocurrencies changed direction in the past day and started a rapid increase. The leading cryptocurrency Bitcoin (BTC), with this increase, first managed to rise above $ 40,000 and then over $ 45,000.

However, large increases were also recorded in altcoins. While Ethereum rose above $ 3,000, others also took their share from this increase.

Here are the latest status and current levels in Bitcoin and altcoins;

Bitcoin (BTC)

Bitcoin price remained supported above the $43,000 level. BTC made another attempt to start a fresh increase above the $44,500 level. It even rallied above the $45,000 resistance level.

However, there was no upside continuation above $45,350. A high was formed near $45,349 and the price is now correcting gains. There was a move below the $45,000 and $44,500 levels. The price also tested the 23.6% Fib retracement level of the upward move from the $37,030 high to $45,349 high.

The leading cryptocurrency is currently trading above $43,000 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $42,500 on the hourly chart of the BTC/USD pair.

Bitcoin is currently facing resistance near the $44,250 level. The first key resistance is near the $45,000 level, while a clear move above the $45,000 resistance could set the pace for a larger rise. In the stated case, the price could surpass $45,500 and test the $46,500 resistance zone. The next major resistance for the bulls is likely near the $47,200 level.

Latest Situation in Altcoins

Ethereum (ETH), the second largest cryptocurrency in terms of market value, has again left a critical level with the recent increases.

So much so that the popular altcoin rose above the critical level of $ 3,000 again after a long time. However, ETH fails to maintain a continuation above this level.

Ethereum, which rose to the level of $ 3.050 with the increase in the evening hours of the previous day, then fell below $ 3,000 again.

As of the time of writing, Ethereum continues to trade at $2,909, down 3.09% in the last 24 hours, according to CoinMarketCap data.

In addition, the situation in other altcoins in the top 10 is as follows;

Binance Coin (BNB) continues to trade at $407, down 1.22% in the last 24 hours, Ripple (XRP) is down 0.35% at $0.77 in the last 24 hours, Terra (LUNA) is up 0.11% in the last 24 hours. trading at $92, Solana (SOL) down 4.40% in the last 24 hours to $99, Cardano (ADA) at $0.92, down 4.54% in the last 24 hours, and Avalanche (AVAX) at $82, down 6.90% in the last 24 hours continues to see.