Share:

The new week has begun with the continued growth of the cryptocurrency market as all top 10 coins are in the green zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the top gainer today among the top coins as its rate has rocketed by more than 10 percent. On some exchanges, the price has even surpassed the $40,000 mark.

BTCUSD

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) could not come back to the zone of $39,000. However, the selling pressure is low, according to the decreasing trading volume. In this case, there are high chances of seeing a slight bounceback from the $36,800 mark.

Chart

BTC/USD chart by TradingView

On the bigger time frame, a minor correction is also the most likely scenario, as traders May have realized long-term accumulation in a narrow range. That is why there are high chances of seeing a test of the liquidity level around $37,000.

Chart

BTC/USD chart by TradingView

On the weekly chart, the candle has broken the resistance; however, it could not reach the vital $40,000 mark. The impulse was not accompanied by large trading volumes, which means that long-term traders are still accumulating power for a price blast.

To achieve that, they should keep the price above the mirror level at $36,600.

Bitcoin is trading at $38,837 at press time.


Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

PEPE price inches closer to 2024 peak with top crypto exchanges teasing PEPE memes on X

PEPE price inches closer to 2024 peak with top crypto exchanges teasing PEPE memes on X

PEPE’s social dominance and relevance have been increasing since February 20. This week, top cryptocurrency exchanges have shared PEPE and related memes in tweets on their official X handle. 

More PEPE News

SEI, Omni Foundation propose standard to unify Ethereum NFTs

SEI, Omni Foundation propose standard to unify Ethereum NFTs

SEI and Omni Foundation could help NFTs across the Ethereum ecosystem transition to scaling solutions and rollups. The two have proposed a new token standard, xERC-721, with a “code minimized” upgrade to the current standard. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC likely to correct to $50,000 soon

Bitcoin Weekly Forecast: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels.

More Bitcoin News

XRP price plunges as Kraken cites SEC v. Ripple lawsuit in its legal battle against the regulator

XRP price plunges as Kraken cites SEC v. Ripple lawsuit in its legal battle against the regulator

XRP price inches closer to support at $0.52 after the recent developments related to the SEC’s lawsuit against Ripple. Kraken cited a key part of the SEC’s lawsuit against Ripple that could impact the outcome of its own legal battle against the regulator. 

More Ripple News

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels.

Read full analysis

BTC

ETH

XRP