A few hours to the time of writing saw various cryptocurrencies surge and record a new seven days high. At the time of writing, these cryptocurrencies are finding it hard to keep the price hike going as they are falling back on critical supports.
Here is the market outlook for today;
Crypto’s largest coin, Bitcoin had volatility filled 24 hours. Unfortunately, all of the bullish momentum it saw during the last 24 hours was not enough to stop its loss as it lost 1.2%.
Interestingly, the king coin recorded a new seven days of $55,663. As of the time of writing, BTC is trading above $54k and is showing that prices may not hold for long in this region.
Every day presents another opportunity for the ever raging battle between the bears and the bulls. The buyers will look to propel the bitcoin back to $55k. The only way to achieve that is to defend the $54k support.
The second-largest coin by market cap also saw an increased amount of the spotlight as it recorded a new all-time high during the last 24 hours.
Coinfomania predicted the new all-time high in one of its analyses. The analysis hinted at a possible break above $2,700 before the week’s end. The new Ethereum all-time high is $2,716.
Ether is trading above $2,600 at the time of writing as more price actions will unfold. With an increased bearish presence, the $2,600 support may flip. If the buyers can avert this, ETH will trade above $2,700 before the end of the 24 hours.
The now seventh largest coin by market also had a tremendous 24 hours. Dogecoin gained 4.7% during the last 24 hours and interestingly, it gained more than 13% during the last 1 hour.
DOGE may see a break above $0.3 before the end of the next 24 hours. Dogecoin will see another fast surge as the current amount of bulls is capable of propeling prices above $0.31.
Most coins lost a certain percentage of their value per one. Will prices slip further will there be a price rally?
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