DailyBubble News
DailyBubble News

Until BTC flips $64,300, altcoins’ bleed could continue

The current state of altcoins is uncertain as Bitcoin’s price remains indecisive, causing a ripple effect in the market. Altcoins are facing challenges, but there is hope for a potential rally if Bitcoin can secure stability above $64,300.

Altcoin market capitalization remains above $250 billion, indicating a possible upward movement if Bitcoin shows strength. However, there is a noticeable trend of sell-offs during the New York session following the Asian and European sessions, suggesting that a positive NY session could benefit the broader market.

Bitcoin’s price is consolidating within a falling wedge pattern, with a potential 20% rally to $76,116 if the bulls can defend the $60,660 support level. Ethereum’s price is also showing resilience, with a 26% upside potential to $4,083 if it can maintain support at $2,900. Ripple’s price, on the other hand, needs to surpass $0.6700 for a safe entry, indicating a possible 30% climb from current levels.

Overall, the cryptocurrency market is in a state of flux, with potential for both upward and downward movements depending on key support and resistance levels. It’s important for investors to monitor these levels closely to make informed decisions.

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