Data from Cointelegraph Markets Pro and TradingView showed that the BTC / USD pair challenged $ 51,000 yesterday after breaking above the level for the first time in nearly four months. In doing so, the larger cryptocurrency was “probably” assessing the staying power of the support, which had acted as resistance all summer.
“$ 47,000 is still the last low, so it is the one that should stay above if you want to avoid any breakout, but we see that we break around $ 50,000 so the previous resistance here is the level that you want to sustain ”, assured Cointelegraph collaborating analyst, Michaël van de Poppe on his YouTube account.
Added yes Bitcoin breaks into a range above Monday’s highs, it could stay between there and April’s all-time highs for weeks or even months.
Altcoins remain on the rise
Altcoins meanwhile offered a mixed bag in the face of Bitcoin consolidation, with Ether (ETH) and Cardano (ADA) both flat in the last 24 hours.
The top 10 cryptocurrencies by market cap were led by XRP at the time of writing, with the XRP / USD pair gaining 6.25% on the day.
“As long as the $ 50,000 level remains, altcoins will also start to explode strongly,” van de Poppe predicted.
FTX Token (FTT) retained a 15% yield and the newly achieved $ 70 level.