RATE Group | Bitcoin and Altcoins Struggle to Gain Bullish Momentum
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Bitcoin and Altcoins Struggle to Gain Bullish Momentum

24 Feb Bitcoin and Altcoins Struggle to Gain Bullish Momentum

Posted at 10:19h in Bitcoin News by

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Bitcoin climbed above the USD 9,850 resistance recently, but it failed to continue higher above the USD 10,050 resistance. As a result, there was a sharp decline in BTC/USD below USD 9,850. The price is now (09:00 UTC) trading below USD 9,800 and it could revisit the USD 9,650 and USD 9,550 support levels.

Similarly, most major altcoins are struggling to gain bullish momentum above key levels, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD failed near USD 275 and declined below USD 270. XRP/USD seems to be facing an increase in selling pressure below USD 0.284 and USD 0.280 levels.

Total market capitalization

Bitcoin and Altcoins Struggle to Gain Bullish Momentum 101
Source: www.tradingview.com

Bitcoin price

After a failed attempt near USD 10,050, bitcoin price started a downside correction. BTC/USD traded below the USD 9,850 support level and tested USD 9,700. The first important support is near the USD 9,650 level. However, the main weekly support is near the USD 9,550 level. Any further…

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