Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls.
Category: Price Analysis
Bitcoin price is struggling to flip $48,000 to support, but the steady protocol developments taking place in DeFi projects could lead to further upside from DOT, LUNA, ATOM and FTT.
Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking.
Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building.
However, some crucial Bitcoin price levels must be broken before the bullish party can start.
Bitcoin’s quick dip below $44,000 sent altcoin prices into a freefall and has some traders worried that the correction could deepen.
While Bitcoin price is fighting to hold above the 200-day SMA, ALGO, ATOM, XTZ, and EGLD continue to march higher.
Altcoins are still flashing bullish signals but Bitcoin’s steady slide toward its swing low could put a damper on the market’s positive sentiment.
What caused Bitcoin’s latest price crash? Theories are flying everywhere, but Cointelegraph’s market experts have arrived to get to the bottom of it. Tune in now!
BTC and most altcoins are attempting to capitalize on today’s market-wide oversold bounce but the recovery could be thwarted by sell pressure at overhead resistance levels.