Bitcoin and altcoins are seeing a relief rally but it may be premature to call a bottom.
) rebounded off the strong support near $1,073 on Nov. 22 and broke above the downtrend line on Nov. 24. This suggests that the bulls are attempting a comeback.The ETH/USDT pair could next rise to the 20-day EMA , which is an important level to watch out for. If buyers overcome this barrier, the pair could attempt a rally to the resistance line of the descending channel pattern.
On the other hand, if the price turns down from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then endeavor to pull the price to the support line of the channel. If this support cracks, the pair could plunge to the critical support zone between $1,000 and $881.) broke below the strong support of $258 on Nov. 21 but this proved to be a bear trap. The price turned up on Nov. 22 and the momentum picked up further on Nov. 23.
On the contrary, if the price turns down from the current level and breaks below the moving averages, it will suggest that the pair may remain range-bound between $258 and $300 for a few more days.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC salesBTC stolen in the Mt. Gox hack appears to be up for sale on exchange HitBTC as Bitcoin exchange withdrawals hit records.
Read more »
Onchain Analysis Verifies the Number of BTC Held by Grayscale’s Bitcoin Trust – Bitcoin NewsOn Nov. 23, the OXT researcher verified a stash of bitcoins that are likely tied to Grayscale’s GBTC cache held by Coinbase.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Move Lower on Black Friday – Market Updates Bitcoin NewsBitcoin was marginally lower on Nov. 25, as markets returned to action following the U.S. Thanksgiving holiday.
Read more »
BTC price holds $16K as analyst says Bitcoin fundamentals ‘unchanged’Bitcoin lingered near $16,500 at the Nov. 23 Wall Street open, but as the U.S.A enters a long weekend will hodlers have anything to be thankful for? (Reporting via WilliamSuberg)
Read more »
Bitcoin price still due $12K dip, says trader as ETF guru backs GBTCGBTC Bitcoin is '99.9%' there, says analyst as BTC price predictions focus on $12,000.
Read more »
Will Bitcoin hit $110K in 2023? 3 reasons to be bullish on BTC nowBTC price may pass $100,000 in 2023, analysis says as Bitcoin perspectives offer bullish forecasts.
Read more »