Price analysis 4/9: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA
The rally in Bitcoin and select altcoins seems to have hit a wall as bears continue to aggressively push back at key overhead resistance levels.
The rally in Bitcoin and select altcoins seems to have hit a wall as bears continue to aggressively push back at key overhead resistance levels.
Bitcoin and most major altcoins have bounced off their immediate support levels, indicating an increase in bullish sentiment.
Select altcoins could rally higher if Bitcoin and Ethereum hold on to their recent gains.
Bitcoin’s renewed push above the descending channel trendline suggests bulls are preparing to push BTC and altcoins to new highs.
Bitcoin price bounced off the 50-day moving average but the real test is near $57,500 where the bears are likely to push back.
“We decided that additional time to conduct a more thorough code review and testing was important,” said Theta Labs.
Bitcoin price is still meeting strong sell pressure near a key trendline, indicating the possibility of further downside for BTC and altcoins in the coming days.
Bitcoin is stuck in a tight range but that has not stopped select altcoins from continuing their journey to new highs.
If bulls can propel Bitcoin to a new all-time high, UNI, LUNA, THETA and FIL are likely to outperform their competitors.
A bullish technical pattern signals that Bitcoin may be gearing up to retest its all-time high and this positive development is pushing UNI, THETA, VET and LUNA higher.