Bitcoin Stabilizes While Altcoins Surge Significantly
- UNI Price Surge: Uniswap's UNI token surged by 22.5% to $3.53 following a favorable report from Standard Chartered, which set an ambitious target price of $100 by 2030, highlighting its critical role in the decentralized trading landscape and boosting market confidence.
- Other Altcoin Performances: Hyperliquid's HYPE token increased by 7.8% in 24 hours and 34.3% over the week, while Solana and Ethereum saw weekly gains of 14.7% and 10.4%, respectively, indicating a growing interest in diversified investments, despite XRP slipping by 0.9% to $1.22.
- Market Dynamics Impact: With the upcoming Federal Reserve meeting, investors are closely monitoring potential interest rate changes that could affect the crypto market; current oil prices have dipped below $79 per barrel, potentially alleviating inflation concerns and influencing the performance of risk assets.
- Investor Risk Appetite Shift: Mixed equity market trends are evident as the Nasdaq 100 fell by about 2% while S&P 500 futures rose by 0.2%, reflecting a more cautious risk appetite among investors in the current economic climate, which may impact future investment strategies.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 54293.279 | 57524.139 | 60830.429 | 64061.289 | 67367.579 | 70598.439 | 73904.729 |
| Fibonacci | 57524.139 | 60021.331 | 61564.098 | 64061.289 | 66558.481 | 68101.248 | 70598.439 |
About BTC
About the author
