Bitcoin Technical Analysis: BTC/USD Eyes$9,300 After 1% Surge
Bitcoin has been fairly weak for the past month, especially after losing the daily uptrend. Bulls are now trying to climb and close above the daily 12-EMA, established at around $9,250. This is the first resistance level buyers need to beat, the next is located at $9,322, the daily 26-EMA.
We know that Ethereum outperformed Bitcoin during May by quite a lot. The digital asset was one of the few top coins to see a significant bull rally while everyone else was sleeping. ETH/USD managed to peak at $253.47 before entering a consolidation period. While Ethereum has been trading sideways for the past few weeks, the pair against Bitcoin has remained fairly strong.
Litecoin is currently under a lot of selling pressure, the small bullish breakout from Bitcoin is helping Litecoin but its certainly not enough. The daily downtrend is still here and bulls will need a lot of strength to reverse the trend.
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2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Originally posted here:
Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Litecoin American Wrap 7/1/2020 - Benzinga
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