Bitcoin remains stuck in a range but TON, LINK, MKR, and XTZ are trying to start an up-move.
Bitcoin tried to break out of its range in the first half of last week but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level.
Although it is difficult to predict the direction of the breakout, the downside could be limited in the near term on expectations that the United States Securities and Exchange Commission Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.”In the near term, it is difficult to pinpoint a specific catalyst that could shake Bitcoin out of its range.
If bears want to seize control, they will have to sink and sustain the price below $24,800. This is going to be tough as the bulls are likely to defend the level with all their might. Still, if the bears prevail, the pair can plunge to $20,000. There is a minor support at $24,000 but it may not halt the decline.The bears tried to pull the price below the immediate support at $25,300 but the bulls held their ground.
Sellers are likely to have other plans. They will try to sink the price below $25,300 and challenge the vital support at $24,800.Toncoin is in an uptrend but the bears are trying to halt the up-move near the overhead resistance at $2.07.Both moving averages have turned up, indicating advantage to buyers but the overbought levels on the RSI suggest that a minor correction or consolidation is possible.
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