Bitcoin and Ethereum remain in rather flat territory, and their positions have changed only slightly compared to yesterday, while the rest of the altcoins
Bitcoin and Ethereum remained largely flat on Friday evening, while the rest of the cryptocurrency top 10 revealed mixed trading sessions. The crypto market began the week on a positive note, but the gains were capped, and most cryptos were trading lower than their monthly highs.
Bitcoin (BTC) opened the session at $23,100 and remained range-bound throughout the week. On Friday, BTC was trading at $23,210, reflecting a nominal rise of 1.2%.
Bitcoin began the week with a strong bullish momentum and quickly surged toward the $23,500 resistance level. However, it failed to break through this crucial resistance and encountered strong selling pressure. As a result, BTC slid down to the $23,100 support level.
After consolidating above this support, BTC attempted another breakout on Thursday and managed to cross the $23,300 resistance level. However, selling pressure quickly emerged again, preventing BTC from reaching higher levels.
Finally, BTC descended slightly and was trading at $23,210 at press time, reflecting a small gain for the week.
Technical analysis showed that BTC remained below the 23.6% Fibonacci level, indicating limited bullish potential. Moreover, the relative strength index (RSI) was below 50, suggesting a bearish bias among traders.
Ethereum (ETH) started the session at $1,620 and remained largely flat throughout the week. On Friday, ETH was trading at $1,627, reflecting a minimal rise of 0.3%.
After beginning the week with a bullish momentum, ETH quickly rose toward the $1,650 resistance level. However, it failed to break through this crucial resistance and encountered strong selling pressure. As a result, ETH slid down to the $1,610 support level.
After consolidating above this support, ETH attempted another breakout on Thursday and managed to cross the $1,630 resistance level. However, selling pressure quickly emerged again, preventing ETH from reaching higher levels.
Finally, ETH descended slightly and was trading at $1,627 at press time, reflecting a small gain for the week.
Technical analysis showed that ETH remained below the 23.6% Fibonacci level, indicating limited bullish potential. Moreover, the RSI was below 50, suggesting a bearish bias among traders.
Among the cryptocurrency top 10, XRP and Dogecoin (DOGE) revealed the most significant gains, rising by 4.5% and 3.5%, respectively. Meanwhile, Polygon (MATIC) and Litecoin (LTC) emerged as the biggest losers, dropping by 2.5% and 2%, respectively.
After beginning the week with a bullish momentum, the majority of the crypto top 10 slid from their highs and were trading lower than their monthly peaks. XRP and DOGE stood out with their gains, while MATIC and LTC faced selling pressure.
The above is the detailed content of MANTRA (OM) is flying above the volatility with a rise of over 26%. Notcoin (NOT) and Mogcoin (MOG) followed suit, revealing a surge of over 20% this week.. For more information, please follow other related articles on the PHP Chinese website!