Published on oktober 14, 2024, 12:25 am
Image source: Fox News
```json [ "Bitcoin price stable with signs of range-bound movement, while altcoins SUI, APT, TAO, and WIF show potential for higher rallies.", "Bitcoin struggles to stay above $60,000 with buyers buying during dips and selling during rallies creating a tight trading range.", "Altcoins like SUI display upward momentum surpassing key resistance levels; APT faces resistance at $10.50; TAO shows strength despite bearish pressure; WIF retests breakout levels indicating possible trend shifts.", "Traders may shift focus to specific altcoins if Bitcoin remains steady above $60,000; caution advised due to inherent risks in the volatile cryptocurrency market." ] ```
Bitcoin’s price remains range-bound, showing signs of continued stability in the near term. However, some altcoins like SUI, APT, TAO, and WIF are potentially gearing up for higher rallies in the upcoming days.
The cryptocurrency market has witnessed Bitcoin recovering from a recent dip below $60,000; nevertheless, maintaining these elevated levels proves challenging for buyers. Observers note a trend of buying during price dips and selling when it rallies, leading to a tight trading range forming.
Despite Bitcoin’s sideways movement, there is a growing bullish sentiment towards select altcoins among analysts. Should Bitcoin sustain its position above $60,000, traders might begin shifting their focus towards specific altcoins showcasing strength in their charts.
Bitcoin recently breached the 20-day exponential moving average on October 11 but struggled to push past the $65,000 resistance level. The coming days will show if bears can drive the price below key support levels or if bulls can maintain momentum towards reaching $70,000.
Meanwhile, altcoins like SUI are already displaying upward momentum. For instance, SUI rebounded off the 20-day EMA on October 11 and surged above the overhead resistance at $2.18 a day later. Analysis suggests that if SUI manages to stay above certain price levels like $2.18 consistently, further uptrends towards $2.50 and beyond could be expected.
Similarly, APT is facing resistance near $10.50 while TAO has shown resilience despite attempts by bears to hinder its upward trajectory. On the other hand, WIF successfully retested breakout levels indicating potential short-term trend shifts that may lead to surges upwards but with crucial support and resistance levels to watch out for.
As always with cryptocurrency investments or trades like those involving Altcoin news or movements in specific coins (SUI), careful research and analysis are crucial as they come with risks inherent to this volatile market. Traders should stay informed and make decisions based on their personal evaluation of market conditions without solely relying on external opinions or articles like this one for investment advice or recommendations.
Original article posted by Fox News
