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Crypto Market Outlook: Bitcoin Aims To Trade Above $40k As Polkadot For $25

The crypto market is on a red candle party with most coins in attendance. The last 24 hours started clear for most coins as they surged to intraday highs but as hours went by, the upward momentum started dying.

In the last 24 hours, a little of the extreme fear that plagued the market dissipates as the fear and greed index increase to 27; a major improvement from the previous reading of 22. With the improvement, more investors are likely to invest in the crypto market. Here is the crypto market outlook for today.

BTC

The largest crypto by market cap saw an intraday high of $40,482 and a low of $37,247. The King coin decrease by more than 4% in the last 24 hours as it saw more than a 15% decrease in trading volume during this time.

As of the time of writing, BTC is trading above $38k; a little improvement from the intraday low. Bitcoin will look to retest $40,000 during the next 24 hours with possibly more funds going into it, thereby increasing the trading volume.

BTC needs to remain above $37,000 as a decrease below this point may result in it not testing $40,000. If bitcoin dips below $37k, the $58k mark will be strong resistance for the king coin.

DOT

The crypto market seems to be losing a lot of attention as the last three days as seen the trading of most coins decrease. Polkadot is not an exception as the coin also saw more 11% decrease in its trading volume.

DOT saw a high of $24.7 and a low of $21.8 in the last 24 hours as it lost 2.2% during this time. Polkadot aims for $25 as it failed to test this critical level during the last 24 hours. The $23 will be the key support in this as polkadot most remain above it before it surges enough to test the $25 resistance.

 

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