Bitcoin Hovers Around $28k As Traders Expect A Further Up Move

Twitter icon  •  Published il y a 1 an  •  Hassan Maishera

Bitcoin has maintained its position close to the $28k level over the past few days as traders anticipate an upward movement in the near term.

TLDR;

  • Bitcoin has been hovering around the $28k region over the past few days and could rally higher in the next few hours.

  • Altcoins like AVAX and Litecoin have bullish momentums and could record gains before the end of the day.

Bitcoin Looking To Establish Strong Support At $27,500

Bitcoin, the world’s leading cryptocurrency by market cap, has maintained its price above $27,500 over the weekend, indicating that traders are holding their positions in anticipation of further upward movement.

At press time, Bitcoin is trading at $27,819, up by less than 1% in the last 24 hours. Bitcoin is trading higher as altcoins are trading in the reds. The technical indicators show that Bitcoin could move past the $28k level and hit the first major resistance level at $28,587 in the coming hours or days. 

Doing so could allow Bitcoin to set up a major resistance level around the $27,500 region in the near term.

Bitcoin has survived the recent rate hikes and the banking crisis in the US and Europe. 

Litecoin Could Lead The Altcoin Charge

Altcoins are trading in the red at the moment but could reverse the course in the near term. LTC, the native coin of the Litecoin ecosystem, has been one of the best performers among the top 20 cryptocurrencies by market cap over the past seven days.

LTC has added more than 10% to its value during that period and could rally higher in the coming days. Litecoin’s rally could be triggered by the fact that the blockchain’s halving event is coming up in roughly 130 days.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.