Recent days have seen significant price fluctuations in the cryptocurrency market. Bitcoin is on the rise again, while altcoins are trying to hold on to their support levels. Let's examine the current situation and predictions for major cryptocurrencies.
Current Situation in the Bitcoin Market
Last week, Bitcoin (BTC) surged past $113,000 after dipping below $110,000. However, strong selling pressure from bears has been noticed at these levels. According to the Glassnode report, key resistance for BTC is seen at $116,000, while support ranges from $93,000-$95,000.
Predictions for Other Cryptocurrencies
Ether (ETH) has fluctuated between $4,250 and $4,500 in recent days, remaining uncertain. It is anticipated that if ETH surpasses $4,500, it may rise to $4,664 and further to $4,957. Similar situations exist for other altcoins like XRP and BNB. Currently, XRP is experiencing a drop towards $2.73, while BNB faces resistance at the level of $848.
Key Support and Resistance Levels
For Bitcoin, key levels are $116,000 (resistance) and $104,000 (support). Altcoins such as Cardano and Dogecoin face similar challenges, with Dogecoin having a significant support level at $0.21.
The cryptocurrency market continues to show high volatility. Investors should be prepared for potential fluctuations and monitor key levels of resistance and support.
