Bitcoin
$96,540 is currently confronting a significant resistance zone as it aims for new record levels. Notable analyst DonAlt indicates that a breakthrough past the $99,000-$101,000 range could signal the beginning of a bullish trend for Bitcoin. As volatility persists in the cryptocurrency market, traders are closely monitoring these crucial levels.
Bitcoin’s Critical Resistance Level
According to technical analyses, the $99,000-$101,000 band is viewed as the last barrier before reaching new all-time highs. DonAlt believes that once this level is broken, the upward momentum will accelerate significantly. The analyst emphasizes that while Bitcoin is recovering from lower levels, the market has not yet gained full strength. Highlighting the importance of three-day candle formations, DonAlt warns that market sentiment can change rapidly during this period.
Current Situation of Ethereum and XRP
In addition to Bitcoin, DonAlt provides insights on Ethereum
$2,744 and XRP. He considers Ethereum’s current price to be relatively low compared to other assets in the market, describing its value at $2,800 as “mispriced.” Conversely, a different scenario is presented for XRP. DonAlt notes that XRP, which was previously attractive between $0.50 and $0.60, is currently around $3, a more fair valuation. He stresses the need for traders to closely watch Ethereum’s price movements. Current market data shows Bitcoin trading at $96,127, with Ethereum at $2,647 and XRP at $2.56. If Bitcoin can surpass its critical resistance zone, the market may enter a more robust upward trend.