Bitcoin

Bitcoin to Break The Major Resistance Ahead Of It, Altcoins Show Mixed Reactions while XRP and LUNA Outperform!

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Bitcoin to Break The Major Resistance Ahead Of It, Altcoins Show Mixed Reactions while XRP and LUNA outperform!

Before Elon Musk’s appearance, the price of Bitcoin was hovering around $31,000. BTC was expected to hit $20k by investors and dealers across the crypto sector. Although the increase towards the end of the weekend saw the price of Bitcoin rise more than 10% to over $39,000, gaining more than $4,000 in a single day.

Despite the fact that an epic short squeeze gave the momentum, the leading cryptocurrency by market cap could continue to climb much higher.

The price is rapidly approaching the $40,000 milestone, at which point everyone expects long-term support to be pushed up to the next level. 

BTC has climbed all the way to $40.8k just 8 hours ago before reverting. It is currently trading comfortably in the positive territory against the US Dollar, above the $39,000 mark. If the price clears and holds over $40k, the price will almost certainly rise to new all-time highs. BTC is expected to rise above $40,500 and $41,000. Bullish impulses are putting the brakes on selling, and the price may shortly break through the $40k hurdle.

Eth and rest of the pack

In the last 24 hours, the cryptocurrency market has gained little over 0.5 percent in value. Above $2,300 and $2,320, Ethereum is struggling to gain traction. Below the $2,320 resistance zone, Ethereum is showing some negative indications. Despite the fact that the pricing is still above the $2,200 mark, 

With a 10.95 percent price increase in the last 24 hours, XRP has been one of the most impressive gainers. 

ADA has increased by 0.4 percent, while Doge has increased by 2.01 percent. LUNA has grown by 21.94 percent, making it the best performer.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Guest Author

Crypto Journalist and Editor of guest articles in CoinPedia. Also, Outreach & Partnerships Manager. Contact me: [email protected]

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