Crypto Market Outlook: Bitcoin continues to climb close to $60K! Will Altcoins Follow?

Author: Rizqie Atsir Fadhlullah, Business Development Tokenomy

Bitcoin continues to move bullish and is getting closer to the highest area throughout 2021. This positive movement certainly brings hope for Altcoins to follow the Bitcoin trend.

 

  • Bitcoin closing in on $60,000

Bitcoin showed very positive movement last week. As explained in the previous analysis, if the price breaks through the $52,800 resistance level, it will continue up to $60,000. And now Bitcoin is around $57,100—only a few more points to reach the main target of $60,000. What will happen when the price touches $60,000? If the price continues to strengthen, then the next target is in the all time high area or around $65,000. However, if there is a rejection, Bitcoin could potentially return to the $52,800 support level.

  • Ethereum still sideways

Unlike Bitcoin, Ethereum tends to be sideways and has not shown a positive response. ETH is still trading around $3,400 – $3,700. In the analysis above, Ethereum is still in the gray area, which is between the potential support & resistance levels. There are 2 possible moves for ETH. First, ETH could continue to move up, following the Bitcoin trend to the $4,000 resistance level. Alternatively, ETH could also fall to the support trendline around $2,900 – $2,700.

  • Ripple at buying area

Ripple corrected to the support area, and this is the best area to “Buy”. As seen in the analysis above, Ripple is currently in the support area which was previously a resistance. This area is an excellent place to take long positions with risk below $1.03 and the main target at the $1.30 resistance level.

  • Tron prepares to take off

Just like Ripple, Tron is also corrected to its support area which is also the best area to “Buy”. In the analysis above, we can see that Tron was corrected to its support trendline, then rejected. With this condition, Tron is projected to move up towards the resistance level of $0.15000, and if it continues to grow, the price will head towards the main target of $0.12300. For those of you who want to take advantage of this momentum, you can take a “Buy” position with a risk below $0.0900.

  • Binance Coin heads $510

BNB showed a very positive movement earlier this week. As seen in the analysis above, BNB was corrected to the support level and immediately moved up after touching it. Now BNB is eyeing $510 as its main target. If the $510 resistance level can be overcome, then BNB could continue strengthening towards the all-time high area.

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