Bitcoin is currently seeking stability around the $25,000 mark, but analysts predict a potential drop to $20,000.
The cryptocurrency market has experienced a broad-based sell-off, with several altcoins being dragged down by Bitcoin’s fall.
However, there are a few altcoins that have shown resilience and may continue to perform well in the coming days.
Bitcoin’s price has been range-bound between $24,800 and $31,000, with the possibility of a recovery if it rises from its current level.
Hedera (HBAR) has seen some bearish activity at higher levels but has found support at the 50-day SMA.
Optimism (OP) has broken below moving averages but found support at the uptrend line, indicating potential demand at lower levels.
Injective (INJ) has formed a bullish ascending triangle pattern, suggesting that buyers have an advantage.
THORChain (RUNE) has been in an uptrend and may continue to rise if it breaks above the overhead resistance at $2.
Summary:
– Bitcoin is seeking stability around $25,000 but may drop to $20,000.
– Altcoins like HBAR, OP, INJ, and RUNE have shown resilience and may continue to perform well.
– Bitcoin’s price is range-bound and may recover if it rises from its current level.
– HBAR has found support at the 50-day SMA.
– OP has found support at the uptrend line.
– INJ has formed a bullish pattern, indicating buyer advantage.
– RUNE has been in an uptrend and may rise further if it breaks above $2.