The cryptocurrency market shows mixed signals, with active buyers and sellers at key price levels. Let's review the current situation and predictions for Bitcoin and other assets.
Current Situation with Bitcoin
Bitcoin faced significant resistance at $107,100, indicating active seller involvement. However, the long tail on the candlestick shows solid buying at lower levels. Accumulation continues, as Strategy purchased 7,390 Bitcoin at an average price of around $103,500, boosting its holdings to 576,230 Bitcoin. The Japanese investment firm Metaplanet also confirmed it acquired 1,004 Bitcoin, increasing its total to 7,800 Bitcoin.
Altcoin Market Analysis
Despite some altcoins pulling back, they have not turned negative yet. For instance, Ether bounced off the 20-day EMA but struggled to maintain above $2,600. XRP is stuck in a range between $2.65 and $2, showing random and volatile price action. Current price levels of altcoins stay influenced by both buyers and sellers with uncertainty in short-term market movements.
Predictions for Major Cryptocurrencies
Predictions for Bitcoin point towards potential growth to $130,000 if buyers can break through the resistance level between $107,000 and $109,588. Simultaneously, sellers could still impact the market if the price drops below the psychological level of $100,000. For altcoins like Ether, a rally towards $3,000 is expected if they can surpass critical resistance levels. Current analysis indicates that markets remain active yet are still subject to risks.
Short-term forecasts in the cryptocurrency market remain uncertain, with potential for both upward movement and further price corrections. Investors should be attentive to changes and trading patterns.
