- Bitcoin’s next move hinges on breaking $58.50K resistance or falling below $56.39K.
- Solana’s price action suggests a potential rise to $136 if it breaks $134 resistance.
- Cardano might hit $0.335 if it breaks $0.328, or fall to $0.310 if it does not.
Bitcoin, Solana, Cardano, and Monero have been experiencing notable price movements over the past 24 hours, indicating both opportunities and risks for traders. Each cryptocurrency has shown signs of fluctuating trends, with key support and resistance levels playing a crucial role in their price directions.
Read also: Crypto Market in Red: Market Cap Drops 4% in 24 Hours
Bitcoin’s price stands at $56,982.72, up by 1.20% in the past day. Throughout this period, the price has traded within a range of $56.39K to $58.50K, suggesting moderate volatility. The $56.39K mark has acted as a reliable support level, providing a foundation for buyers to step in.
However, the $58.50K level represents strong resistance, where sellers have repeatedly applied pressure. If Bitcoin breaks through this level, it could head towards the psychological barrier of $60K. Conversely, a decline below the $56.39K support may signal further correction, possibly down to $55K.
Solana, currently trading at $132.82, has risen 2.56% over the last 24 hours. The price has fluctuated between $129.50 and $134, indicating moderate market activity. Solana’s key support is at $129.50, where the price found buyers after a brief dip.
Resistance at $134 remains significant, as the asset has struggled to maintain momentum beyond this point. A break above this level could push Solana toward $136 or higher. Alternatively, failure to hold above $129.50 could trigger a deeper pullback, possibly testing support around $127.
Cardano has shown a 2.27% gain, with its price currently at $0.3231. The price has moved between $0.3161 and $0.328, reflecting relatively steady upward momentum. Support at $0.3161 has been a key level where buyers have stepped in, while resistance around $0.328 has limited upward movement.
If Cardano can break past this resistance, it could aim for $0.335 in the near term. On the downside, a breach of the $0.3161 support could lead to a further decline toward $0.310.
Monero, trading at $175.61, has experienced a 0.67% increase. After a volatile day, the price dropped to $170 before recovering. Support levels are observed around $170 and $174.45, while resistance near $176 has prevented further upward movement.
If Monero overcomes this resistance, it may continue its upward trajectory. However, a failure to hold current levels could lead to another test of the $170 support.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
