The rally in Bitcoin and select altcoins seems to have hit a wall as bears continue to aggressively push back at key overhead resistance levels.
Altcoins retraced to key lower support levels after Bitcoin price dropped below $56,000, but will traders view the dip as a buying opportunity?
Bitcoin and most major altcoins have bounced off their immediate support levels, indicating an increase in bullish sentiment.
Select altcoins could rally higher if Bitcoin and Ethereum hold on to their recent gains.
Following the delay of Theta’s Mainnet 3.0 launch, the token dipped by 25%, but what drives the lively price action of Theta?
Bitcoin’s recovery from its recent lows and the stellar performance from altcoins signal that bulls are confident BTC will retest its all-time high.
Bitcoin’s renewed push above the descending channel trendline suggests bulls are preparing to push BTC and altcoins to new highs.
Bitcoin price bounced off the 50-day moving average but the real test is near $57,500 where the bears are likely to push back.
Bitcoin price is still meeting strong sell pressure near a key trendline, indicating the possibility of further downside for BTC and altcoins in the coming days.
“We decided that additional time to conduct a more thorough code review and testing was important,” said Theta Labs.
THETA started a strong increase from the $6.50 support zone against the TetherUS. The price is now up over 25% and it is likely to continue higher above $15.00. THETA started a strong rally above the $8.00 and $10.00 resistance levels against the TetherUS. The price is trading nicely above $12.00 and the 100 simple […]
Bitcoin is stuck in a tight range but that has not stopped select altcoins from continuing their journey to new highs.
If bulls can propel Bitcoin to a new all-time high, UNI, LUNA, THETA and FIL are likely to outperform their competitors.