Bitcoin (BTC) moved to the top of its trading range on June 24 as optimism returned to traders’ forecasts.
Bitcoin Price “Ready for $ 23,000”
Data from Cointelegraph Markets Pro and TradingView tracked the broadly stable BTC / USD as it reached a local maximum of $ 21,425 on Bitstamp.
“Bitcoin Ready for $ 23,000,” Michael van de Poppe, Cointelegraph Contributor Announced For Twitter followers on the day.
A little more than the critical 200-week moving average (WMA), $ 23,000 made it a popular upside target for commentators – and marketers.
Trading Suite Descentrader noted that the whales in the Bitfinex exchange are heard in the area, giving BTC / USD the potential to “duplicate” more than 200WMA during squeeze.
“The 200WMA has great historical significance in past bear markets, and will be of major interest to traders when the price revisits,” Decentrader wrote in his latest market update, echoing popular sentiment.
“We know whales especially like to dominate Bitfinex. There is a significant wall asking at $ 23,000 below the 200WMA level. There is no guarantee that the hearing will stay there or be broken when the price reaches them. Price can be rejected.
Overall, the firm added that crypto is “not out of the woods”, but the market is offering “encouraging bulls”.
The trading target for Ethereum is $ 1,500
In the meantime, Altcoins stole the show in a short time frame as the week ended.
Ether, the largest altcoin from the market cap, gained about 10% on the day to reach $ 1,200.
Ripple (XRP) and Solana (SOL) performed even better, with daily gains in both figures and the latter generating around 30% weekly returns.
The Green Sea was ubiquitous in the top fifty cryptocurrencies by market cap, trading only 5.8% at the time of writing, bucking the UNUS SED LEO (LEO) trend.
“A good market environment here, markets are continuing to gain momentum,” Van de Poppe He said In a separate update, it adds that ETH / USD may reach $ 1,500 in “coming weeks.”
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