Following short -term profit realization, Bitcoin and other large crypto currencies took place. Within 24 hours, an average decline of 3.3 %was observed throughout the market. Leading crypto currency Bitcoin was withdrawn from its previous high levels, while popular subcoins such as Ether and Cardano have seen similar losses. However, graphics, which are positive on a weekly basis, indicate that investors make strategic moves despite short -term corrections.
Where does Bitcoin and Ether go technically?
Bitcoin continues to hold onto the 50 -day moving average. Analysts say that the preservation of this level keeps market confidence alive, but a consolidation on an average of 200 -day moving for a permanent trend return. According to FXPRO senior analyst Alex Kugünikevich, this level is a critical indicator in terms of the long -term aspect of Bitcoin.
On the Ether side, a similar technical appearance stands out. Although price movements attract the attention of short -term investors, sudden fluctuations force Ether investors to be cautious. The uncertainty in technical indicators causes investors to focus on support-reasons rather than large positions.
While the volatility increases in subcoins, whales are active
Solana, despite the recent challenging market conditions, continues its course close to its 50 -day average. This is considered as a signal of recovery by investors. Failure to break the technical level of support levels may prepare the ground for the upward movement of Solana.
On the Dogecoin front, whales are active. The collection of approximately 800 million Doge in a short time increased investors’ short -term rise expectations. However, how this movement will be reflected in the prices will become clear in the coming days.
Cardano has entered a technical correction process after harsh ups and downs. The first peak of the price and then withdrawal indicates that the market is still under pressure. According to technical analyzes, the short -term decrease trend in the Altcoins may continue.
Capacal Comments from Experts: Early for New Summits
Technical indicators do not clearly confirm Bitcoin’s potential to reach new summits. Famous Trader Peter Brandt, “a trend line violation does not mean the return of trend alone,” he stressed that investors should not be overly optimistic.
Trend lines and Fibonacci correction levels play an important role in determining the direction in the crypto currency market. However, these indicators need to be evaluated not only with price movements, but also with macroeconomic and geopolitical developments. Increasing global economic uncertainties and the decrease in risk appetite in recent days are among the factors that trigger the fluctuation in the crypto currency market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
