Market condition: Study the levels of support and resistance of professionals in digital currencies

The price of bitcoin began to rise as it reached the $ 38,000 mark and surpassed the $ 39,200 resistance level. Bitcoin is currently trying to reach the level of $ 39,500. Currently, the price of bitcoin is rising by about 3% per day, and this digital currency has fallen by 5% compared to last week.

According to Cryptonews, most of the major altcoins on the market have also encountered key barriers to resistance. Atrium went through $ 2,880, but stopped in the $ 2,920 range. XRP also stabilized in the $ 0.65 range after falling. Cardano is trying to continue to rise above the resistance of $ 0.865.

Market condition: Study the levels of support and resistance of professionals in digital currencies
Total market capitalization on an hourly basis

Bitcoin prices

After the price of bitcoin stabilized above $ 38,000, the price of this digital currency began to rise and reached over $ 39,000. If the resistance levels of $ 39,500 and $ 39,650 are broken, the next key resistance is probably at the $ 40,000 level. If this resistance is removed, supporters of raising the price of bitcoin or so-called market cows will gain power.

If bitcoin falls, initial support is close to $ 38,800. The next key support is close to the level of 38,200 dollars, and if this support is violated, the decline in the price of bitcoin will accelerate.

Atrium price

The price of the Atrium managed to accelerate above the resistance of $ 2,850 and even climb above $ 2,900, but fell again after the price reached $ 2,920. Atrium is currently growing at a rate of 2% per day, and the price of this digital currency has decreased by 6% compared to the previous week. The next big resistance of Atrium is close to the level of $ 2,959 and if this resistance is broken, the price of Atrium will be able to rise again to $ 3,000.

If Atrium refuses, it will face its first support of $ 2850. The next key support is close to the $ 2800 level, which, if this resistance is broken, will accelerate the fall in Atrium prices.

The price of altcoins

Cardano fell below the $ 0.85 price level and stabilized. The first key resistance of this digital currency is in the range of $ 0.865. If Cardano manages to overcome this resistance, there will be a new upward wave in its price.

Currency (BNB) is currently traded well below $ 400. If the price trend is down, there is immediate support at $ 385. The next key support is in the order of $ 380, which if broken, the price could fall to $ 365.

Solana’s price has stabilized in the region of $ 100. The key resistance levels are in the $ 102 and $ 105 ranges. If the price of this digital currency closes, breaking the resistance of $ 105, the price will rise steadily in the short term.

Dodge Quinn revolves around its $ 0.140 support and has not changed since a sharp drop yesterday. If bearish sentiment rises, it is likely to move to $ 0.135. If the Dodge Quinn moves up, the price may meet resistance in the $ 0.142 range.

XRP is still trading in the $ 0.65 range. Its next key support is in the $ 0.632 range, and if that support is broken, reducing the price to the $ 0.62 range is unlikely.

Several other quinces on the market were up today. Among them, the prices of ApeCoin and Graph underwent a 9% price jump and exceeded $ 19 and $ 0.377, respectively.

Read also: Bitcoin returns from the 6-week price floor; What’s the next move?

Overall, Bitcoin is looking to offset high losses in the $ 39,200 zone. However, if the price of this digital currency exceeds $ 39,500 and $ 39,650, we can hope for steady growth in the short term.

The publication Market Situation: A Study of Professional Support and Resistance Levels in Digital Currencies appeared for the first time in Digital Currency.

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