Bitcoin Price Prediction as Bulls Hold $25,800 Level – Here are Key Levels to Watch
In the ever-evolving cryptocurrency landscape, Bitcoin price appears to be showcasing a resilient stance as bulls firmly clutch the $25,800 mark.
As of today, Bitcoin is trading at a commendable $25,904.23, reflecting a modest uptick of nearly 0.50% over the past 24 hours.
Backed by an impressive trading volume of $8.4 billion, Bitcoin continues to dominate the market, holding its reigning position at #1 on CoinMarketCap.
With a live market capitalization of $504 million and a circulating supply of 19,474,968 BTC out of the maximum 21,000,000 BTC coins, the premier cryptocurrency remains a focal point for investors worldwide.
Here’s what market observers should be keenly monitoring in the forthcoming sessions.
Bitcoin Price Prediction
Upon technical analysis, Bitcoin displays a slightly bullish trend, especially after rebounding from the significant support level of $25,400.
Bitcoin is currently edging closer to the next significant support level at $25,400, marked by the lowest point it reached on August 22.
The likelihood of a further decline is strengthened by a bearish engulfing candle detected on the four-hour chart, which is compounded by a bearish crossover that has occurred below the 50-day exponential moving average.
At the same time, the Moving Average Convergence Divergence (MACD) indicator and the Relative Strength Index (RSI) both exist in a sell zone, further reinforcing the potential for lasting bearish momentum.
If Bitcoin surpasses the $25,400 threshold, it can expect support to come in around $24,600, while $24,150 will serve as a strong base.
Conversely, the resistance at $25,900 is expected to be significant. A bullish move beyond this could open the door for a climb towards $26,400, potentially even $27,000.
To sum up, the crucial price point to keep an eye on today is $25,400, as it will likely determine the direction of Bitcoin.
Let’s take a look at the top 15 cryptocurrencies to watch in 2023.
Top 15 Cryptocurrencies to Watch in 2023
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This thoughtfully curated list has been compiled by industry experts from Industry Talk and Cryptonews, ensuring that you receive professional recommendations and valuable insights.
Stay ahead of the game and discover the potential of these cryptocurrencies as you navigate the ever-changing world of digital assets.
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Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
