Bitcoin Struggles to break past New Resistance as Altcoins gather Momentum

News • 2020/07/30 • по Remitano

While bitcoin is finding it hard to break the $11,400 mark, most altcoins are slightly finding their feet as a result of small gains in the past few days. BTC has been fluctuating since it broke out of the $9,000 – $9,300 range last week.

In the past few days, Bitcoin rose to $11,000 and tried to move to a new level beyond $11,390 on the 29th of July. Unfortunately, the effort was in vain as it continues to hover around the $11,000 mark.

If bitcoin can eventually go beyond the $11,390 resistance, it has to maintain a weekly range of about $11,490 before it is ready to move to the $12,000 range. However, should there be a fall in value, BTC should maintain a range of about $10,800 and $10,400. In contrast, Altcoins such as Ethereum and Ripple has been steady over the past 24 hours and has experienced just marginal price uptrends.