Published on september 28, 2024, 12:28 am
Image source: Fox News
```json [ "TLDR: Bitcoin's surge above $65,000 sparks optimism for a strong bull market, pushing towards $70,000. Altcoins also show gains, with expectations of a Q4 rally. Ethereum displays resilience amidst resistance levels. Other altcoins like BNB, SOL, XRP, DOGE, TON, ADA, AVAX, and SHIB exhibit varying technical patterns. Caution advised in the volatile crypto market." ] ```
Bitcoin’s recent surge above $65,000 has sparked optimism among traders, with many believing that the bull market is back in full force. The rise to over $66,000 on September 27 signifies a push towards the $70,000 milestone. This bullish momentum has also led to increased buying in spot Bitcoin exchange-traded funds in the United States.
Notably, altcoins have also witnessed significant gains alongside Bitcoin’s rally, indicating a positive shift in market sentiment. The crypto community is abuzz with expectations of a potential Q4 rally, with historical data showing that strong September performances have often paved the way for robust fourth quarters.
Bitcoin’s impressive 12% gain in September surpasses previous records and sets a promising tone for the upcoming months. Technical analysis reveals that if Bitcoin maintains levels above $65,000, it could pave the way for further upside towards the $70,000-$73,777 range. Conversely, a drop below $65,000 might indicate weakening momentum and bearish tendencies.
Ethereum (ETH) has been displaying resilience as well, finding support at moving averages despite facing resistance. A symmetrical triangle breakout could see ETH aiming for $3,409 if bulls maintain control. However, sellers are likely to defend key levels around $2,850.
In other news within the cryptocurrency space:
– Binance Coin (BNB) showcases notable support around the $570 level after a pullback from highs near $616.
– Solana (SOL) continues its upward trajectory towards resistance at $164 amid solid demand from buyers.
– XRP struggles to break past resistance at $0.60 but maintains stability above moving averages.
– Dogecoin (DOGE) eyes a rally towards $0.14 as bulls retain control above key support levels.
– Other altcoins like Toncoin (TON), Cardano (ADA), Avalanche (AVAX), and Shiba Inu (SHIB) display various technical patterns suggesting potential price movements.
As always with cryptocurrency investments and trades, it’s crucial for individuals to conduct thorough research and due diligence before making any financial decisions. Each move in this volatile market comes with risks that should be carefully assessed by investors.
Original article posted by Fox News
