11 C
7 October 2022
Image default

Bitcoin is approaching resistance again, stellar over 11 percent in the plus

The bitcoin (BTC) price was able to test the resistance at $ 7,800 on April 27, but was unable to break through at that time. In the past 24 hours, the bulls were able to push the course towards this resistance zone again with a new test as a result. In addition, the altcoins do not do much spectacular, but there is again a big climber just outside the top 10.

Bitcoin (BTC) tests resistance again

About 24 hours ago, BTC fell after it tested the resistance at $ 7,800. The price eventually found support at the 50-hour moving average (MA) after which bitcoin was able to retest the $ 7,800 last night.
This time again the race turned off. However, bitcoin forms a rising triangle pattern, with increasingly higher lows. At the moment, the price is already trading quite far in the point of this pattern and it may become clear in the short term whether the bulls can push the bitcoin price through the $ 7,800.
At the time of writing, bitcoin’s price is $ 7,713 on cryptocurrency exchange Coinbase. Should the price break out, there is likely to be a strong resistance zone at 8,000. For example, the 100- and 200-day MAs are close to this price level. Support can be found in the near term at $ 7,600, which is also where the 100-hour MA is currently located.

Stellar (XLM) rises 11 percent

The vast majority of altcoins in the top 10 based on market capitalization do not currently show any noticeable movements. Ethereum (ETH) is down 0.1 percent in the minus and remains at a value of $ 196.60 just below the value of $ 200. Ripple’s XRP (XRP) is up 0.4 percent and is now worth $ 0.1984.
The biggest drop at the moment is EOS (EOS). The number 9 is down 1.2 percent and is worth $ 2.73. As we have often seen in recent times, spot 10 is the largest climber in the top 10; tezos (XTZ). Tezos is up 4 percent and is now worth $ 2.80.
Just outside the top 10 you can find an even bigger riser. Stellar (XLM), the number 11, is no less than 11.1 percent in the plus. This makes XLM worth $ 0.0691 and slowly approaching the top 10 again.

Related posts

Crypto winter can get worse, CEO of blockchain company warns


Retail Bitcoin Investors Are Still Bullish, Following Market Correction


Can the rise of the market continue next week?