Author: Rizqie Atsir Fadhlullah, Business Development Tokenomy
Bitcoin and other crypto assets have finally returned to bullish movements after being corrected in the last 3 weeks. How long will this movement continue? And where are the closest resistance level targets? Check out the following analysis.
- Bitcoin approaching $60,000
After 3 weeks of correction and forming a bearish channel, Bitcoin has resumed its bullish movement. This is indicated by the breakout from the resistance channel area. As stated in last week’s analysis, if the price manages to break through the resistance channel, the nearest resistance level target will be $52,800. If this trend continues, Bitcoin could climb higher to the $59,600 resistance level.
- Ethereum heading to $4,000
Following Bitcoin, Ethereum is also continuing its bullish trend after successfully breaking through the resistance channel. In the above analysis, Ethereum is projected to retest the trendline before approaching the $4,000 resistance level. For those of you who haven’t made a buy position, this could be a good area to place a buy.
- Ripple still trying to break through important resistance level
Unlike Bitcoin and Ethereum, Ripple still hasn’t broken out of the resistance area. However, seeing the current state of Bitcoin, which has been successfully bullish, it will be easy for Ripple to break through; if Ripple succeeds, its closest target will be the $1.4 resistance level.
- Dogecoin approaching $0.3520
Dogecoin responded to Bitcoin’s bullish move positively. Last weekend, Doge broke out of the bearish trend, returning to a bullish trend. $0.2650 becomes the immediate resistance level that must be overcome before targeting $0.3220 and $0.3520.
- Cardano in the best “Buy” area
Although not too bullish, Cardano has managed to show quite a positive movement. In the analysis above, it can be seen that currently Cardano has broken out and also retested its descending triangle trendline. This area is also the best area to buy where the stop loss can be given below $2,100 and the closest target is at $2,500. And if the $2,500 area is successfully overcome, then the bullish movement will continue to the $3,100 resistance.