Market Status: A Study of the Key Supports and Resistances of Bitcoin and Altcoins
The general situation of the bitcoin market and most of the altcoins has been up in the last 24 hours. If buyers can push the price of Bitcoin above $ 50,000, this digital currency and other market currencies are likely to continue to rise.
To Report Crypto News, the price of bitcoin rose faster than the resistance of $ 48,500. Bitcoin continued to cross the $ 49,200 level and crossed the $ 49,800 level before reforming to lower levels. Bitcoin is currently trading at around $ 49,340 and the price seems to be able to test the resistance of $ 50,000 again.
Most market coins are in a similar situation and are growing faster. Atrium stabilized above $ 4,000 after approaching the $ 4,100 resistance and may continue to grow to $ 4,120. Ripple jumped 8% to break the $ 0.92 barrier. Cardano is also testing the $ 1.3 resistance zone.
Bitcoin price terms
The price of this digital currency became more stable after Bitcoin moved above $ 47,500. Bitcoin has crossed the resistance levels of $ 48,500 and $ 49,200, and now the next resistance is in the range of $ 50,000. If the price crosses this level, it may grow faster. In this case, there is a possibility of jumping to the level of $ 51,200.
On the other hand, if the market falls, the first support will be near the level of $ 49,000. The next major support is near $ 48,500, which if broken is a new downtrend in the market may begin.
Atrium price terms
Atrium prices are now hovering above $ 4,000. While the market trend seems to be bullish, each unit of this digital currency is trading at around $ 4,030. The next key resistance is near the level of $ 4,080, which if the price crosses this resistance, Atrium may rise to $ 4,120. In this case, buyers can test the resistance at $ 4,200.
On the other hand, if the market continues to decline, the price is likely to fall below $ 4,000. The next key support is at the $ 3,920 level, and if this level is broken, sellers will probably try the $ 3,850 support.
Price list of Cardano, Baines Quinn, Solana, Dodge Quinn and Ripple
Cardano has grown 3% in the last 24 hours and its price has crossed $ 1.28. Buyers are currently testing the $ 1.30 level. If this resistance is broken, the price may rise to $ 1.32.
Binance Quinn is trying to accelerate its uptrend and cross the $ 535 level. The next major resistance is near $ 550. If you cross the $ 550 level, there is a possibility that the price will increase to $ 565.
Solana is currently trading above the $ 180 resistance and at around $ 184. Buyers managed to push the price to $ 188 at some point, and the next key resistance seems to be the $ 200 level.
Dodge Quinn fluctuates above $ 0.17. The first key resistance for buyers is near the level of $ 0.175. With a good break above this level, the price may rise to $ 0.188. Otherwise, as the market declines, the price may fall to the range of $ 0.165.
Ripple outperformed the $ 0.9 level. Buyers have pushed the price above $ 0.92 and $ 0.95, and apparently the next key resistance is close to $ 1.00, which can be expected to jump to $ 1.05.
Price conditions of market coins
Curve DAO Token, Iota, Luna, The Graph, Loopring, Paligan, THORChain, Fantom, Olench, Kadena, Hedera, Kazmas and NEAR Protocol are altcoins that have grown by more than 10% in the last 24 hours. Of these altcoins, the Luna has risen 16 percent to more than $ 95. The price of this digital currency has also increased by 62% in the last seven days.
Overall, the price of Bitcoin is rising to $ 50,000. If buyers are able to maintain their position above $ 50,000, the price may continue to rise to $ 51,200.