BTC/USD inches closer to 100-day MA, break above targets 700
BTC/USD seems to be consolidating in a narrow range. It has hit 609.63 levels so far in the day and currently trades at 605.94 levels at the time of writing (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish …
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD seems to be consolidating in a narrow range. It has hit 609.63 levels so far in the day and currently trades at 605.94 levels at the time of writing (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 588.30
Kijun Sen: 581
Trend reversal: 589.29 (90 EMA)
“The pair is trading well above 90 EMA and is targeting 620 levels. A close above the 100-day MA trend line would see further jump till 700.00 levels”, FxWirePro said in a statement.
Major resistance is seen at 622.55 (100-day MA) and a break above would see the pair reaching 653.69 (78.6% retracement of 704.99 and 465.28)/ 705 (July 3 high).
On the reverse side, support is likely to be found at 589.29 (90 EMA), and a break below would target 550/ 528.38 (200-day MA).
Ethereum’s $21.8 billion total was more than three times BNB Chain’s. The market value was up 920% over three years, while Solana and Stellar tied for third.
