Ethereum

Cryptocurrency

Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-market-surges-as-major-coins-gain-momentum" rel="noopener noreferrer nofollow">Cryptocurrency Market Surges as Major Coins Gain Momentum</a><br></p>
<p style="text-align: justify">In a recent turn of events, despite lackluster U.S. economic data, Bitcoin has achieved its highest weekly closing since November 2021, marked at $52,137. This milestone suggests that the dreary bear market may be receding, paving the way for a robust bull market. Bitcoin continues to hold steady at the $52,000 mark, indicating an optimistic outlook for 2024, as holders appear hesitant to cash out their gains too quickly.</p>
<h2 id="bright-prospects-for-ethereum">Bright Prospects for Ethereum</h2>
<p style="text-align: justify">Ethereum, the premier alternative cryptocurrency, has made a strong recovery, now trading above $2,800, a significant rise from its previous low during the crash when it plummeted to $881.5. Support appears to have solidified around the $2,717 mark with Ethereum recently breaking past the $2,868 resistance level, showcasing a bullish sentiment among investors.</p>
<p style="text-align: justify">The current trajectory hints at Ethereum potentially breaching the $3,000 barrier. Despite the Relative Strength Index (RSI) signaling an overbought condition, which typically precedes a correction, the sustained high demand might propel prices even higher without a significant pullback. Should the uptrend persist, Ethereum could even test the $3,400 price point. Conversely, should a downturn occur, Ethereum could find support at $2,717 and $2,615.</p>
<h2 id="binance-coin-shows-resilience">Binance Coin Shows Resilience</h2>
<p style="text-align: justify">Binance Coin (BNB) is displaying strong momentum, with the 20-day Exponential Moving Average (EMA) at $330 and favorable RSI figures suggesting a continuing uptrend. A solid close above $367 could accelerate the rally towards the $400 milestone. On the flip side, if the advance falters, a retest of the $314 support level is likely.</p>
<h2 id="ripple-s-potential-rebound">Ripple’s Potential Rebound</h2>
<p style="text-align: justify">Ripple’s (<a href="https://en.bitcoinhaber.net/singapore-based-fomo-pay-obtains-money-services-operator-license-from-hong-kong-government" rel="noopener noreferrer nofollow">XRP</a>) current market position shows a less robust bullish outlook, with a lack of significant recovery from the $0.5 support level. However, should buying interest increase, XRP could potentially initiate a move towards $0.67. On the other hand, if the market turns bearish, XRP might revisit the $0.5 support region.</p>
<h2 id="solana-s-positive-indicators">Solana’s Positive Indicators</h2>
<p style="text-align: justify">Solana (SOL) has shown resilience by bouncing from the neckline of an inverse head and shoulders pattern. Given the current 20-day EMA at $106 and an RSI value of 62, Solana may challenge the $119 resistance area, a level it has recently tested. If it breaks through, the climb could extend to a price range of $127 to $135. Conversely, a bearish shift could see SOL prices retract to around $100.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-market-surges-as-major-coins-gain-momentum" rel="noopener noreferrer nofollow">Cryptocurrency Market Surges as Major Coins Gain Momentum</a></h5>

Cryptocurrency Market Surges as Major Coins Gain Momentum

Table of Contents

BH NEWS

Другие статьи, опубликованные 20 февр. 2024 г.

Bitcoin’s Value Surge Over Four Years

UK Govt to Launch Crypto and Stablecoin Regulations in the Next 6 Months

Ripple executive highlights success beyond XRP price

Bitcoin Teeters on the Edge: Will $52,000 Mark Usher in a Bull Run?

Hong Kong Pushes for Tokenization of Real-World Assets

Centralized crypto exchanges are recovering strongly post-FTX crash

Join our free newsletter for daily crypto updates!