The big day has arrived and today we will watch the effects of major developments on the charts. BTC surprisingly reclaimed $94,000 and volatility is expected to continue increasing in the coming hours. In altcoins, gains are over 5%. So is the rise credible? How do analysts interpret the latest move?
Coinbase Premium
Since US investors take a selling position after every rise in cryptocurrencies Resistance tests were failing. Today, BTC exceeded the resistance zone and maintains the 95 thousand level after testing 96 thousand dollars. Turkish on-chain analyst anlcnc1 drew attention to Coinbase Premium.
“Bitcoin Coinbase Premium Yesterday was showing a sign of recovery. As we sensed US volume coming into play, the price rose sharply.
Currently, negative bars are moving horizontally. There is no complete confidence until green bars appear. “If the negative bars widen again, the price will also move downward.”
On the other hand, if Bitcoin regains and stays above the $97,966 level, where short-term investors have an average cost, the target will be the 350-day moving average. Analyst anlcnc1 believes that the level equivalent to $101 thousand is the next target.
“A break above this level could pave the way for a move towards $160,000.
There is no need to rush; “Those who are patient will win.”
Second analyst Lark Davis is pleased as Bitcoin made a daily candle close above the $94,000 resistance level. It’s only happened twice in the last 2 months and this time it has to be successful.
“The next limit is the 200-day EMA, which is located around the psychological level of $100,000.” –Davis
ETH and Altcoins
Altcoins continue on their way with gains exceeding 5 percent. ETH If the altcoin king can show a strong performance, it will be possible for altcoins, which have seen deeper bottoms for 90 days, to experience rallies exceeding 50% by compensating for some of their losses.
DaanCrypto believes that with the retracement of $3,350, we will see a higher top to catch the 200MA. BTC At the time of writing, it is at $95 thousand and ETH is at $3,300.
