Coinbry

  • Market Cap: $2,385,223,013,836.27
  • 24h Vol: $118,315,227,553.61
  • BTC Dominance: 50.68%
Bitcoin price seeks stability as HBAR, OP, INJ, and RUNE show bullish signs

Bitcoin price seeks stability as HBAR, OP, INJ, and RUNE show bullish signs

Bitcoin is currently seeking stability around the $25,000 zone, but analysts are predicting a potential drop to the crucial $20,000 level. The overall sentiment in the market is bearish, with both Bitcoin and US equities experiencing losses. However, there are a few altcoins that are showing strength and may continue to perform well in the coming days.

– Bitcoin has been trading within a range of $24,800 and $31,000, with the price currently near the lower end of the range. The relative strength index (RSI) suggests a potential recovery, but if the price fails to rise above the 20-day exponential moving average ($28,309), it may drop to $24,800 and potentially even $20,000.

– Hedera (HBAR) has faced resistance at $0.078, but buyers have shown support at the 50-day simple moving average ($0.054). If the price breaks above the resistance, it could surge to $0.093 and eventually $0.099. However, a break below the 20-day EMA could lead to a decline to $0.045 and $0.040.

– Optimism (OP) has found support at the uptrend line after breaking below the moving averages. If the price remains above the uptrend line, it may rally to the overhead resistance at $1.88. However, a break below the uptrend line could indicate bearish control and a potential fall to $1.21 and $1.09.

– Injective (INJ) has formed a bullish ascending triangle pattern, suggesting that buyers have an advantage. If the price breaks above the 50-day simple moving average ($8.16), it could rally to $10. However, a break below the uptrend line may lead to a slump to $5.40.

– THORChain (RUNE) has been in an uptrend, but is facing resistance at $2. A break above this level could push the price towards $2.30 and $2.60. However, a dip below $1.41 may signal a deeper correction to the 20-day EMA ($1.33).

In summary, while Bitcoin and the overall market sentiment are bearish, there are a few altcoins that are showing strength and may continue to perform well in the near future. However, investors should conduct their own research and exercise caution when making investment decisions.

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