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Bitcoin Price Rally Hits New Highs, Is $73,000 an Achievable Target Next?

Bitcoin price rally hits the highest ever levels above $59K and appears poised to attain the milestone at $60K

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Bitcoin Price Hits New ATH at $59,523

Bitcoin price rally successfully retested the area at its previous ATH around $58K, broke out from its bull flag and rallied to a new all-time high. The BTC price was going parabolic in recent times and therefore a new ATH was on the cards.

The price gained a huge bullish momentum that assisted to hit a new milestone close to $60K. However, ever fundamentals are looking much stronger which may help to scale the next upcoming leg for Bitcoin. According to the co-founder of Glassnode, Jan & Yann, all the indicators are in healthy territory.

Spring is unloading, with fundamentals looking great.

Tactical indicators such as Funding rate, SOPR and ASOL are all in very healthy territory, all giving #Bitcoin lots of energy for this next leg up. pic.twitter.com/l2qlYIGTOQ

— Jan & Yann (@Negentropic_) March 13, 2021

According to the co-founder, the tactical graphs that include BTC- Futures, BTC SOPR, BTC ASOL and BTC Liquid supply change, all are in a good position.

Also Read: Regardless of the Plunge, Bitcoin Price Rally to Hit $60k Very Soon!

How the Price Managed to Break the Upper Resistance?

The BTC price has maintained a very narrow trend in recent times, which might have impacted the bull run inversely. However, as much as $250 million worth of shorts were liquidated as per the reports put up by analysts, Joseph Young. The liquidations happened in the past 4 hours which might have led to a massive surge.

However, after smashing $60K that looks effortless, the next milestone to be achieved would be much higher. According to an analyst, Nicola Duke, the next upcoming target maybe somewhere around $72,500 to $73,000.

Despite many indicators showcased a bearish divergence, Bitcoin refused to go down, which forced the chart to flip into bullish. Currently, it is mandatory for a continued bitcoin price rally, the daily close should happen above $58,500 levels.

Also Read: Commodity Strategist From Bloomberg Signals Investors Are Dumping Gold for Bitcoin

Source: https://coinpedia.org/bitcoin/bitcoin-price-rally-hits-new-highs/

bitcoin-price-rally-hits-new-highs,-is-$73,000-an-achievable-target-next?

Coinpedia

Solana Price in Discovery Mode, SOL Price to Hit $150 Soon!!

Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge

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Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.

SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.

SOL Price Analysis

The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.

The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.

The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

$150 for Solana?

Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.

A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.

“This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

Source: https://coinpedia.org/price-analysis/solana-price-in-discovery-mode-sol-price-to-hit-150-soon/

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Bitcoin Price Facing Vital Resistance As Golden Cross Expected On 13th August!

Bitcoin(BTC) price after rallying above $46500, it consolidation again around the strong support levels in order to head close to $50,000

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Bitcoin price rallied remarkably and successfully added yet another $2000 with a nearly 6.1% jump. Moreover, the price also achieved the important resistance levels around the 200-day MA at $44,864. The rally marked a bullish re-establishment but with the beginning of the fresh day trade, BTC price initiated with consolidation. Whereas most of the altcoins appear extremely bullish.

The past weekend turns out to be a pivotal period that dragged the crypto space out of the reach of the bears. BTC price currently is reattempting to surge above $46000, keeping the bullish momentum well in place. On the other hand, the ETH price comfortably resides above $3100 after the occurrence of the Golden Cross.

Also Read: Bitcoin Price Analysis: Is Short Term Correction Evident Before the Golden Cross? Popular Analyst Says YES!

However, the Golden Cross on Bitcoin is expected to occur in a coming couple of days on 13th August 2021 as predicted by analysts.

Currently, the exchange outflow ratio has fallen to the lowest point since June 2019. Therefore a sense of confidence among the holders is withnessed as large exchange sell-offs are less common when less supply is at risk on exchanges.

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Also Read: Ethereum Price Flips Before Hitting Crucial Support Zones, Bull Market Resumes!

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Source: https://coinpedia.org/bitcoin/bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13-august/

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Polygon (MATIC) Price Retraces Well, Is It A Dead Cat Bounce Or A Recovery?

The Polygon price struggling to sustain the uptrend, the possibility of a fake breakout haunts the Matic Price Rally

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Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels.

The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs.

matic deadcat

As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1.

AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

Is It Safe To Enter The Matic Price Trade?

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

$MATIC: Nice dip to the demand zone again w. a good reaction. Would like to see it flip this current level before buying. Decent buy volume from yesterday; we’ll see if this can test higher. #MATIC pic.twitter.com/LDCPEowSh8

— Altcoin Sherpa (@AltcoinSherpa) June 23, 2021

Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

Source: https://coinpedia.org/price-analysis/polygon-matic-price-recovers-well/

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