The cryptocurrency market has registered a slight rise with the opening of trading hours. bitcoin The price surpassed an important resistance at $27,400. Expectations are for the price to rise further.
Michael van de Poppe says the latest breakout in Bitcoin price will trigger a rally to $36,000. believes.
With the last move, we swept all the lows. The price settled above $27,200 and it is showing strong moves. It pays to be patient because the first trigger for the upward movement has arrived. If things go well, a rise between $36,000 and $42,000 is possible.
Ali Martinez, on the other hand, made the following statement: “TD Sequential presented a buy signal on the BTC daily chart, anticipating a potential recovery. Notice how accurate TD has been in predicting local bottoms in the past two months. Still, it will depend on Bitcoin’s ability to hold above $26,360.
Koinfinans.com As we reported, Bitcoin accumulation increased while the recent declines continued. According to the data, the number of wallets with a balance of more than 100 BTC increased by 200 in four days. Interestingly, according to the latest developments, Bitcoin (BTC) has also managed to reverse the US Dollar as the preferred asset in the market.
Is Bitcoin and Altcoin Rally Possible?
In addition to BTC, it is possible to see an acceleration in the altcoin market. Although things were more complicated, Ethereum passed the $1,800 level. Other altcoins such as Cardano (ADA), Solana (SOL), and Polygon (MATIC) all gained between 1.5-2%. Another altcoin gaining the most, Litecoin (LTC), has risen 7.5% in the last 24 hours thanks to the strong address activity driven by the recently introduced LTC20 protocol.
You can follow the current price action here.