Bitcoin price fell below the $62,000 support zone. BTC found support near the key $61,800 zone. BTC is currently correcting and facing resistance near the $63,100 level down 1% in the last 24 hours. The global crypto market capitalization today is $2.33 trillion, a decrease of 2.14% in the last day.
Likewise, most major altcoins are slowly correcting losses. ETH tested the key support at $3,115 and recovered above $3,180. XRP hit below $0.50 before bulls appeared. ADA remained stable above the $0.445 support zone. Solana is trading at $136.19 and is down more than 4%.
In this article, we will discuss:
Bitcoin Price Analysis April 29, 2024
After falling below $63,000, bitcoin price found support near $61,800. He is trying to slowly recoup his losses. On the upside, the price is facing resistance near the $63,500 level. The next major resistance is near $65,200, above which the price could begin a steady rise.
If there is no break above $63,500, there could be a further decline below $60,000. The main breakout support is near $52,500, below which the price could begin another big decline.
Ethereum Price Analysis
At the time of publication, the price of ETH was quoted at US$3,173.76 with a drop of 4.5% in the last 24 hours. Ethereum price also followed a similar pattern after falling below the $3,200 support. ETH remained stable near the $3,150 and $3,180 levels.
On the upside, the price is facing resistance near the $3,300 level, the 50 hourly simple moving average. The next major resistance is near $3,350, above which the price could begin a steady rise.
If there is no break above $3,300, there could be a further decline below $3,120. The next major support is $3,020, below which the price could even reach $2,850.
In short, bitcoin price is attempting a recovery wave above the $63,000 level. If BTC remains above $63,500, it could rise and recover to $65,200. Otherwise it should correct close to US$52,500.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/analise-dos-precos-do-bitcoin-e-ethereum-hoje-29-04-2024/
