The crypto market is back on track as many cryptocurrencies have surged and are trading above their different pivot supports. For the last 24 hours, most cryptocurrency has been trading sideways with no major price drop or hike.
Traders are also gaining their composure as the market is gradually leaving the extreme fear state it was before. The fears and greed index is also displaying the recovery as it increases by 8% during the past 48 hours is displaying 19% as of the time of writing.
Here is the crypto market outlook for today;
Bitcoin has been on the recovery path for the last 24 hours. Recovery is still ongoing but slow as of the time of writing. BTC is trading above $40,000 but recorded an intraday low of $38,747 and a high of $42,479 as it gained 1.7% in the last 24 hours.
The buyers’ goal in the next 24 hours is to see BTC as high as $45,000. Following the price hike from $38k to $42k in the last 24 hours, the bulls will start a price rally to push prices as high as $45k.
The strongest resistance to the price surge to $45,000 is $43,000. If right-wing traders can rally the market past this price mark, BTC can test $45k in the next 24 hours.
Following the king coin, ether is also on the rise. The last 24 hours saw ETH record an intraday low of $2,643 and a high of $2,989 as it gained more than 2%.
The last 24 hours saw Ethereum edge closer to trading above $3,000. The sellers will create congestion that may threaten the $2,500 support. The buyers will try to stop the drop to that market as they pump prices to $3,000 if the same bullish momentum from the last 24 hours continues.
The last 24 hours saw the Binance coin also record significant gains as it surges above $400 and gained more than 6%. BNB has an intraday high of $419 and a low of $360.
The next 24 hours will see an intense struggle between the right-wing traders and the left. The bears will try to keep the price below $400 as they will mount increased pressure on that resistance. If the bulls push prices past the $400 resistance, BNB may test $430.
The struggle is on between the bears and the bulls. The buyers seem to have the upper hand following the historic price drop the crypto market suffered during the last 24 hours. Let see how prices play out today.
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