The cryptocurrency market saw mixed movements with Bitcoin maintaining its upward trajectory while Ethereum faced resistance. Other major altcoins showed varying short-term trends.
Bitcoin Eyes New Resistance
Bitcoin reached $85,695.20 on Wednesday, marking a 2.41% daily increase. The cryptocurrency surged from a low near $83,650, reinforcing this level as key immediate support. Should BTC fall below this $83.6k level, further support may appear around $82,500, where price consolidations occurred previously.
Ethereum Consolidates
Ethereum continues consolidating below the $1920 resistance, holding support in the $1854-$1874 range. Investors are cautiously watching potential price movements amid high market activity.
Short-term Trends for Altcoins
Major altcoins like Cardano (ADA), Solana (SOL), and Sui (SUI) exhibited varying short-term trends. Some struggled to maintain key support levels, reflecting investor uncertainty over the next potential market breakout direction.
The cryptocurrency market remains volatile with multiple support and resistance levels significantly influencing short-term trends. Investors continue to monitor developments.
