The crypto market is showing signs of life again, and a breakout might just be around the corner. While Bitcoin continues to lead the way, altcoins are setting up for some interesting moves too.
As of now, Bitcoin is testing an important resistance zone between $109,000 and $111,000. While the fundamentals like stock market stability, a steady volatility index, and a growing Coinbase Bitcoin premium are looking positive, analysts are divided on whether Bitcoin can break above this level in the short term.
While there’s strong bullish momentum right now, the volume isn’t quite high enough for a confirmed breakout. If Bitcoin gets rejected at this resistance, it could see a pullback before any new highs.
Ethereum (ETH) and XRP haven’t kept up with Bitcoin’s recent surge. Ethereum especially looks weak, still stuck below its key resistance level and struggling to attract volume. XRP, too, is heavily dependent on Bitcoin’s moves and may need a pullback before any serious rally.
Altcoins in general have stabilized but remain at risky levels. A short-term pullback in altcoins is likely before a possible bounce and more sustained upside. The open interest in altcoins remains high, keeping things volatile, but if Bitcoin can hold its ground, altcoins might follow suit soon.
However, crypto trader JRNY Crypto is positive about what’s coming next. According to him, Bitcoin reaching $125,000 could kick off a mini altcoin season. If it crosses $150,000, a bigger rally might follow, and if Bitcoin pushes above $180,000, the market could enter a massive, parabolic altcoin season.
The crypto market is showing signs of bullish energy today. Bitcoin is trading around $107,000-$108,000, up over 1% in the last 24 hours, testing key resistance. Ethereum and XRP are also seeing gains.
Altcoins have stabilized but remain at risky levels. A short-term pullback is likely before a sustained rally, though high open interest keeps them volatile.
Bitcoin is currently facing a crucial resistance zone between $109,000 and $111,000, which will determine its short-term price direction.
Block Inc. (NYSE: XYZ), an American tech company founded by Jack Dorsey and best known…
After passing the final House vote on Thursday, the GENIUS Act was enacted into law…
21Shares, a veteran crypto investment company with more than $11 billion in assets under management…
A major shift is underway at the SEC, as it is stepping away from surprise…
XRP had a wild ride this week, reaching a new all-time high of $3.65 before…
Back in 2021, few investors imagined that Shiba Inu (SHIB), a joke token with an…
