Published on april 29, 2024, 12:27 am
Image source: Fox News
```json [ { "TLDR": "Bitcoin's price remains stagnant, prompting traders' focus on Altcoins like NEAR, AR, CORE, and BONK. Bitcoin faces selling pressure near $67,000. Altcoins show positive movements with NEAR breaking out of a pattern, AR rising above moving averages, CORE showing optimism, and BONK emerging from correction phase. Investors advised to monitor support levels and breakout points before acting." } ] ```
Bitcoin’s price action remains range-bound, prompting traders to shift focus to alternative cryptocurrencies (Altcoins) like NEAR, AR, CORE, and BONK. The leading digital currency, Bitcoin (BTC), encountered significant selling pressure near $67,000 this week despite attempting a relief rally. As it heads towards ending the week with a slight loss of about 2%, market experts express concerns about the Post-Halving ‘Danger Zone’ as predicted by trader Rekt Capital.
Currently trading within a wide range of $59,600 to $73,777, Bitcoin seems indecisive regarding its next move. Traders are eying critical levels for potential breakout directions. Investors are advised to closely monitor support levels and potential breakout points before taking any definitive actions.
Among the Altcoins gaining attention, Near Protocol (NEAR) recently broke out of a descending channel pattern while AR and CORE also demonstrated positive movements on the charts. NEAR closed above $7.70 resistance level suggesting bullish momentum but could face challenges ahead from bears defending key positions.
On the other hand, AR has seen a rise above moving averages indicating a comeback attempt by bulls despite resistance at $40. Similarly, CORE showed signs of positivity with support at 20-day EMA ($2.23) highlighting optimism among traders.
Lastly, BONK seems to be emerging from a corrective phase supported by upward movements past moving averages. However, the resistance at $0.000030 poses a challenge that could dictate future price actions for BONK/USDT pair.
Despite these analyses on Altcoins and Bitcoin trends discussed in this article for informational purposes only and not as investment advice. Cryptocurrency investments involve risks; thus readers are encouraged to conduct thorough research before making any financial decisions in this volatile market landscape.
Original article posted by Fox News
