On Tuesday morning, both biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were trading higher. The full total value of the cryptocurrency market increased by 1.77 percent to $1.12 trillion. On Monday, Bitcoin (BTC) maintained its upward trend. The biggest cryptocurrency by market capitalization crossed $24,000 in the morning and held that level in to the afternoon.
While keeping a careful eye using one large-cap digital asset, a well-known crypto strategist is forecasting rallies for Avalanche (AVAX), a competitor of ethereum ethereum Blockchain NetworkTechnology Followers : 0 View profile . AVAX appears ready for a substantial rally, in accordance with Michal van de Poppe, after overcoming resistance at $26.
He said that AVAX is ready to create a third try to hit the $26 levels. When that resistance is broken, all previous highs are activated for acceleration. His targets are $36 and $42 if the 50-day moving average continues to serve as support.
The decentralized decentralized [emailprotected] Event Organiser Followers : 0 View profile oracle network Chainlink (LINK) may be the next altcoin on the traders list, and in accordance with Van de Poppe, it really is offering enormous prospect of long-term bulls.
He stated that Chainlink gets near $8. The BTC and USD pairs seem to be accumulating a lot, but he still thinks it is a once-in-a-lifetime opportunity. While its down 85% from the last all-time high, it really is among the assets to stock for another bull run.
Van de Poppe warns short-term traders that pullbacks remain possible but claims that Bitcoin still includes a bullish outlook.
Short corrections are possible, but trend continues to be up. Looking quite fine on the bigger timeframes for Bitcoin.
Are you aware that BTC price, close to the $24,000 mark, there’s imminent resistance on the upside. Close to the $24,200 region comes another significant resistance. Closing on the $24,200 resistance level might signal the start of a continuing rise.
Bitcoin can start a downward correction if it’s unable to go through the $24,000 barrier level. Close to the $23,600 mark, there’s the immediate support on the downside.