Bitcoin is in the green following the weekend breakout amid an unsettled macroeconomic environment. The popular cryptocurrency has gained 3.65% in the last 24-hours. It is trading at $42,274, as per CoinMarketCap.
However, the bulls remain around the $42,000 level. There is stiff resistance at $42,594. Bears continue to sell at higher levels and will attempt to pull the price below the moving averages. Analysts highlighted that the world’s most popular digital asset is testing the broken moving average at a new support level. Traders are expected to rush for a breakout.
Ethereum is changing hands at $3,011 as it gained 6% in the last 24-hours. But trading volume has been light as investors are well aware of the fast-moving, global macroeconomic trends. Analysts believe bulls are buying on minor dips and will try to push Ether price above $3,000. This is an important level as a break and close above it will signal a possible change in trend.
The altcoins have also noted some impressive gains. Ripple’s XRP is the biggest gainer of the last 24-hours. It is up by 7.19%. Cardano has gained 6.58%, Avalanche 5.51%, Polkadot 4.10% and Solana is up by 3.71%. Terra LUNA has gained 2.58% in the last 24-hours and is trading at $95.85. The meme coins – Shiba Inu and Dogecoin are also in the green, they have gained 3.97% and 2.10% respectively.
The crypto market is bound to see some major gains this week.