This week was quite exciting in the cryptocurrency market as a lot of the major coins managed to recover. Unfortunately, this wasn’t the case for all of them, so let’s have a look at some of the most interesting performers throughout the past seven days.
Bitcoin is up by a powerful 15.8% over the past week as the cryptocurrency edges near the ATH price again. It started the week by rebounding from support at $47,200 (.382 Fib) and began to push higher over the weekend.
The coin broke back above $50,000 on Sunday and continued higher into the early-March resistance at $52,480 (bearish .618 Fib) on Monday. As the week progressed, BTC rallied until reaching $58,000 yesterday. It has since rolled over from here to trade back at the $56,112 level.
Looking ahead, the first level of resistance lies at $57,686 (1.272 Fib Extension). This is followed by $58,355 (ATH), $60,000 (1.618 Fib Extension – purple), and $62,170 (1.414 Fib extension – blue).
Added resistance is expected at $64,000, $66,000, and $68,610.
BTC/USD Daily Chart. Source: TradingViewEthereum
Ethereum also saw a strong surge this week after increasing by 14% to reach $1750 today. The coin rebounded from support at the lower boundary of an ascending price channel over the weekend as it started to push higher. It found resistance at $1667 (bearish .5 Fib) on Saturday and continued above this resistance on Sunday.
Etheruem then went on to spike even higher until meeting resistance at $1875 (1.414 Fib Extension – yellow) on Tuesday. It could not break this level and ended up rolling over from here as it moved sideways around $1800.
Today, ETH …
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