Bitcoin Price Attempts $25K, Get Rejected Twice! What Next?
The post Bitcoin Price Attempts $25K, Get Rejected Twice! What Next? appeared first on Coinpedia Fintech News
In the past week the primary cryptocurrency, Bitcoin, has been fluttering between $23,000 and $24,000. In Fact the Bitcoin price had even hit $25,000 twice, the latest one being yesterday, but got rejected immediately. This downfall seems to be in correlation with Wall Street.
Three of the leading US stock market indexes were pulled down to red where the S&P 500 and Dow Jones declined by 2%. On the other hand Nasdaq lost nearly 4%.
At the time of publication, Bitcoin has lost 2.10% in the last 24hrs and is now trading at $24,185.
Testing Time For Bitcoin Price
Meanwhile, a closely followed crypto analyst known as Inmortal claims that the flagship currency will mostly gain its next bull run after retesting support of $24,000.
However, another crypto analyst Michael van de Poppe seems quite positive. As per the analyst the market correction along with the US market is an opportunity to buy.
Well, at present Bitcoin’s price action is at a crucial stage where it’s important for the currency to hold on to its $24K area to gain its next bull run. Immediate resistance is at $24,300 while support lies at $24,000.
Altcoins To Follow Bitcoin ?
On the other hand, Inmortal before he winds up his analysis, also throws light on altcoins like Ethereum, Solana and Chainlink. For Ethereum, the strategist believes ETH is about to spike at $2,100.
Currently, Ethereum is selling at $1,643 with a fall of 2.26% over the last 24hrs.
Next is Solana where he expects SOL to hit a bull run after surpassing its key level of $25.
Solana is now changing hands at $23.60 following a pull back of 6.34% in the last 24hrs.
Lastly, Inmortal claims that Chainlink is also about to enter a massive upward movement if LINK crosses the $9 area.
At the time of writing, Chainlink is valued at $7.45 after a loss of 4.39% in the past day.
