Ethereum

Cryptocurrency

Rally

Bittensor

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-fuels-cryptocurrency-market-rally-as-traders-reap-profits" rel="noopener noreferrer nofollow">Bitcoin Fuels Cryptocurrency Market Rally as Traders Reap Profits</a><br></p>
<p style="text-align: justify">The cryptocurrency market, with <a href="https://en.bitcoinhaber.net/us-bitcoin-etf-market-sees-cutthroat-competition-as-issuers-battle-for-dominance" rel="noopener noreferrer nofollow">Bitcoin</a> at the forefront, is maintaining a rapid growth trajectory, yielding substantial profits for many investors. The forthcoming Dench update in the <a href="https://en.bitcoinhaber.net/vision-for-ethereums-layer-2-solutions-by-vitalik-buterin" rel="noopener noreferrer nofollow">Ethereum</a> ecosystem is anticipated to be a pivotal event for Layer-2 networks. The focal points of this period include the potential advancements for both OP and TAO tokens.</p>
<h2 id="optimism-s-bullish-climb">Optimism’s Bullish Climb</h2>
<p style="text-align: justify">Optimism (OP) has been climbing steadily in recent days. The token’s price surmounted the significant resistance level at $4.20, signaling a bullish reversal with an inverse head and shoulders pattern on March 5th. With the 20-day Exponential Moving Average (EMA) at $4.12 and a positive Relative Strength Index (RSI), the trend suggests further upward movement. A surge past the $4.87 threshold could propel the OP/<a href="https://en.bitcoinhaber.net/tether-unleashes-enhanced-security-tool-for-stablecoin-recovery" rel="noopener noreferrer nofollow">USDT</a> pair to reach the anticipated $5.79 target.</p>
<p style="text-align: justify">However, a sharp decline from current prices and a fall below the 20-day EMA could indicate a false breakout, potentially sending the price down to $3.42. A further drop beneath this figure would signal a shift in favor of the bears.</p>
<h2 id="tao-s-price-resilience">TAO’s Price Resilience</h2>
<p style="text-align: justify">Bittensor (TAO) has recently retracted to a crucial short-term support level at the 20-day EMA of $646. A rebound from here would suggest that the bullish sentiment prevails, potentially leading to a breakout above $757 and an advance toward $846.</p>
<p style="text-align: justify">Conversely, slipping below the 20-day EMA average could reflect profit-taking by the bulls, and the TAO/USDT pair might then retreat to the 50-day Simple Moving Average (SMA) at $535. The bears would have to drive the price under this average to hint at a possible shift in trend.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-fuels-cryptocurrency-market-rally-as-traders-reap-profits" rel="noopener noreferrer nofollow">Bitcoin Fuels Cryptocurrency Market Rally as Traders Reap Profits</a></h5>

Bitcoin Fuels Cryptocurrency Market Rally as Traders Reap Profits

목차

BH NEWS

2024년 3월 10일에 게재된 다른 기사

AI’s Potential to Propel Chinese Online Literature Globalization

Circle Launches Cross-Chain Transfer Protocol (CCTP) To Enhance Stablecoin Liquidity On Solana

Top Altcoin Trend To Watch : AI, Gaming, and Meme Coins

Morgan Stanley’s Bid For Spot Bitcoin ETFs; Solana Faces Being Outshone by Rising AI Crypto

On a quest for democracy and privacy: Unveiling Rarimo’s Freedom Tool with Lasha Antadze

XRP has disappointed vs. Bitcoin in 2024 — Is a price rebound possible?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!