bullish

Solana

Bull Market

Bitcoin

Gains

<ul>
 <li>Bitcoin closed above the bull market support band, signaling potential further gains.</li>  
 <li>Major cryptos like Ethereum and Solana also experienced significant price increases.</li>  
 <li>Analysts remain cautiously optimistic, noting Bitcoin's recovery and bullish momentum.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/analyst-remains-bullish-on-bitcoin-after/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin's recent price action</a> has sparked interest after closing above a crucial technical level. Analyst Benjamin Cowen pointed this out on X noting that Bitcoin is trading above its "bull market support band."&nbsp;</p>  
<p>This bull market support band often acts as a key support zone during declines and signals the potential for a rebound. The latest developments indicate that Bitcoin could be on the verge of further gains, fueling bullish sentiment.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/intocryptoverse/status/1827859278016725095
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<h2 class="wp-block-heading" id="h-bitcoin-and-major-cryptos-rally">Bitcoin and Major Cryptos Rally</h2>  
<p>Over the weekend, the price of Bitcoin experienced a <a href="https://cryptonewsland.com/bitcoin-climbs-to-64k-amid-strong-market-support-and-positive-technical-indicators/" target="_blank" rel="noopener noreferrer nofollow">significant boost</a>, climbing from around $60,800 to $64,040. This 5.8% increase pushed its weekly gain to 10%.&nbsp;</p>  
<p>Other major cryptocurrencies, like Ethereum and Solana, also experienced notable rises. Ethereum was up 5% and Solana gained 11% over the past seven days.</p>  
<p>This surge follows remarks by U.S. <a href="https://www.federalreservehistory.org/people/jerome-h-powell" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve Chair Jerome Powell</a>, who hinted at upcoming interest rate cuts. Speaking at Jackson Hole, Wyoming, Powell mentioned that September might see the first rate cut since 2020.&nbsp;</p>  
<p>While Powell didn’t specify if the cut would be 25 or 50 basis points, he expressed optimism about inflation while cautioning against rising unemployment.</p>  
<h2 class="wp-block-heading" id="h-analysts-show-cautious-optimism">Analysts Show Cautious Optimism</h2>  
<p>Analysts remain cautiously optimistic about Bitcoin's growth potential. They observe that the network is challenging previous highs and reversing a post-halving downturn.&nbsp;</p>  
<p>Although liquidity is recovering, it's doing so slowly. A stronger movement, similar to late July, is needed to fully confirm the upward trend.</p>  
<p>Staying above the bull market support band is considered a bullish signal and hints at potential price stability or even further increases. Meanwhile, market participants are closely watching for the next significant move as <a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> gains momentum in the next few days.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-surpasses-support-analyst-predicts-gains/" rel="noopener noreferrer nofollow">Bitcoin Surges Past Bull Market Support Band: Analyst Eyes Further Gains</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Surges Past Bull Market Support Band: Analyst Eyes Further Gains

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