BTC price began to recover from $ 16,250 but experiencing some resistance close to the $17,500 mark. ETH is stabilizing beyond $500, and other altcoins, including XRP and LTC, also witnessed a slight recovery.
BTC price continues to dip below $17,500 and $17,000. Bitcoin traded below $16,500 before the bulls showed strength close to $16,250.
The price is presently trading above $17,000 but experiencing barriers close to $17,350 and $17,500. After a quick dip, BTC formed support close to $16,250. The price started a gradual increase and moved beyond $17,000.
Major Signals
- BTC/USD pair recovers from $16,250 but faces another resistance.
- ETH and XRP are holding on to major support zones
- Sushi, YFI, and others go up by over 10%
BTC price also furthered beyond $17,200 but seemed to be experiencing some resistance close to the $17,350 and $17,500 level.
A proper break beyond $17,500 is required for further increase. However, the initial support is close to $17,000, and the major support is close to $16,800.
Also, the price of ether followed a similar wave and began to recover from $480 support. It is currently trading beyond $500 and $510 but facing hurdles near $530.
The next significant resistance is close to the $550 mark. However, if the price does not break the $530 and $550 resistance, there could be a new decline. XRP trading close to $0.545 but experiencing huge barriers close to $0.565
BCH also experienced a decadent dip below $300 and $280 and even tested the $250 support before correcting upwards. It is currently trading close to $270 but facing resistance near $280.
What do you think about the direction of the crypto market? Let’s discuss in the comment section
