Bitcoin (BTC) is in the same band these days when the news flow is stagnant. Bitcoin is trading at $23775, rising 2.6 percent at the time of writing.
Bitcoin’s 4-hour chartThe cryptocurrency market continues to experience the effects of the decline. While it seems promising that Bitcoin is above $ 20 thousand, it is difficult to say that we have entered an uptrend or a downtrend yet. The strongest alt support near the current trading region of Bitcoin is the $ 17,000 region, where it also reacted on the decline. The closest upper zone resistance is the $30,000 band. In order for us to talk about the rise, Bitcoin needs to push the upper resistance from the region we are in.
Latest Situation on Ethereum (ETH)
Ethereum (ETH) also charts a similar chart to Bitcoin. As of the time of writing, ETH, which is traded at $ 1736, started the day with an increase of 2 percent.
Ethereum’s 4-hour chartEthereum also went through this period, drawing a very similar chart to Bitcoin during this decline. With the effect of Merge news, it showed a good rise from the bottom price in the $ 900 band and rose to $ 1700. Ethereum’s strongest support is the $900-1000 band, while the strongest resistance is the $1800-1900 band.
Latest Situation in Cardano
Cardano (ADA) was also affected by the decline in the market and it is in the support zone, which we can call strong by falling from the $ 1 level it saw after a long time. ADA also seems to have been positively affected by the Ethereum Merge news, as it started the day with an increase of 2 percent.
Cardano hourly chartWe have to wait for good news about the market for bullish expectations to occur in the market. The news about Ethereum’s Merge recently and its positive reflection on the market gave me hope. With the developments in the network, this can be a trigger for an uptrend after the money enters the market.
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