Bitcoin broke through the resistance area with a large green candle, which is a good sign for the entire crypto market. We may now see some sideways movement before moving towards the next resistance area.

Support Area: $59,500-$60,000

Resistance Area: $64,500-$65,000

ETH is expected to continue its upward movement, heading towards the resistance area. It is advisable to accumulate ETH during dips for the mid-term, as the spot ETF is expected to drive significant buying and pump.

Bitcoin is testing the short-term holders' MVRV support area. Historically, in the majority of cases, this has been a precursor to a continued bull run.

ALGO analysis:

Price is currently testing the resistance area. It's better to wait for new entries to see if it can break this level.

Support Area: $0.115-$0.124

Resistance Area: $0.156-$0.166

Bitcoin is continuing its upward movement and has tested the resistance area. However, there was a sharp rejection at the resistance area, leading to traders taking profits. This correction is considered healthy and we may expect some sideways movement now.

Support Area: $59,500-$60,000

Resistance Area: $64,500-$65,000

After the German government, Mt. Gox is now moving BTC for repayments. Bitcoin is experiencing a dip due to this, but don't worry – this phase will also pass soon.

SOL continued its upward movement and reached the resistance area. The price dropped from there, and we might witness another test of the resistance area. A break above the resistance area indicates a bullish trend. Maintain your long position with a stop loss.

Resistance Area: $160-$165

NEAR has broken the resistance area and is now trading above it. Consider opening a small long position on a retest with a tight stop loss. There may be a continuation of the upward movement in the coming days.

Support Area: $5.50-$5.85

Resistance Area: $8.00-$8.50

RAY analysis:

Price is currently breaking out of the resistance area and undergoing a retest, signalling a potential continuation of the upward movement. Consider opening a long position with a tight stop loss.

Support Area: $1.83-$2.00

Resistance Area: $2.65-$3.00

The correction is over, and Bitcoin continues its upward movement. Mt. Gox transactions didn't affect the market much, and it looks like the bulls are back. The next resistance level is in the $69,000-$70,000 area, so let's see how the price reacts there.

The TOTAL cryptocurrency market cap continues to move upward as expected. The market is moving up after Germany's selling and it looks like no sellers are left.

Resistance Area: $2.45-$250 Trillion

The current daily transaction volume on the Bitcoin network, without filtering for irrelevant transactions, stands at $46.4 billion. According to Glassnode analysts, this figure surpasses the respective transaction volumes of the Visa and Mastercard payment networks.

Educational Post

What Is an Ethereum ETF?

An Ethereum ETF is a type of ETF that tracks the price of ether (ETH). It allows investors to gain exposure to ETH’s price movements without having to deal with the difficulties of managing crypto wallets and exchange accounts. Investors can purchase shares of the Ethereum ETF allowing them to trade ETH through a familiar investment environment, such as a brokerage account.

How Does an Ethereum ETF Work?

An Ethereum ETF can either hold ETH directly or invest in futures contracts that are tied to the price of ETH. Let’s take a closer look at how an Ethereum ETF works:

1. Fund creation: Large financial institutions create shares of the ETF by purchasing ETH and contributing it to the ETF. They may also invest in futures contracts instead of holding ETH.

2. Tracking ETH’s price: The Ethereum ETF closely tracks the price of ether. If its price rises, the value of the ETF shares should also increase, and vice versa.

3. Trading on exchanges: The shares of the Ethereum ETF can then be listed and traded on various stock exchanges, such as Nasdaq. Investors can buy and sell these shares throughout the trading day, just like they would with stocks.

OMNI analysis:

Price is currently attempting to reclaim the resistance area, with the downtrend line also serving as a resistance area. It's advisable to wait for a break of this resistance area for new entries.

Resistance Area: $14.50-$15.00