"Selling pressure has been building near this level since early August. Bitcoin, having added 3.2% since the start of the day and around 4.5% in 24 hours, has once again come close to testing its 50-day moving average, trading just below $61K," Alex Kuptsikevich, FxPro senior market analyst, told CoinDesk in an email.
"Overcoming this resistance from where bitcoin has been selling off since August 9 would take it to a test of its 200-day MA near $62.7K. A consolidation above these levels could dramatically improve sentiment in the entire cryptocurrency market," Kuptsikevich added.
Bettors are predicting price stability for Solana and Ether, with a 68% chance of SOL remaining above $140 by week's end, and Ether expected to stay above $2500.
Tron’s TRX has seen gains thanks to increased network activity driven by a new memecoin generator, showcasing the volatility and impact of market trends in the altcoin space.
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