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Since the outbreak of the war between the United States and Iran, the cryptocurrency market has experienced and continues to experience multiple price fluctuations. The price of Bitcoin has been affected by comments from the presidents of the United States and Iran, and the issue has transcended all financial markets.
Currently, Bitcoin price is trading above $72,000, up 2.3% in the past 24 hours.
Regarding alternative digital currencies, here are their most notable moves (support and resistance levels):
Ethereum (ETH):
Ethereum continued to hold support at $2,000 and ended the week slightly higher by around 1%, indicating a decrease in seller pressure.
Technical signals tend to be positive, but confirmation of an uptrend would require a break above $2,400.
If successful, the price may later reach $2,800.
Ripple (XRP):
XRP remains above $1.4, which is an important support level.
The main resistance is at $1.6, a break above which could open the way to $2.
As long as the price remains above $1.4, the outlook remains positive.
Cardano (ADA):
Cardano coin maintained support at $0.24 while testing resistance at $0.28.
A break above this level could open the way for a rally towards $0.40, with technical indicators such as the MACD trending upward on the weekly frame.
Binance Coin (BNB):
BNB price is up around 2% this week after bouncing off the $580 support.
The next target is $690, but weak buying volumes may give sellers an opportunity to move back to that level.
currency (hype):
HYPE was the best-performing cryptocurrency this week, rising 24% after breaking above $36 resistance.
If the price can break above $40 and $42, it could open the way to $50, which is a strong move, especially in a bear market.
Also read:
Is a bullish wave coming? Bitcoin Index Hits Lowest Level Since FTX Crash Crisis
Bitcoin Sentiment Enters FOMO Territory After Suggesting War Is Over
