- Bitcoin (BTC) posted 3.77% gains in the last 24 hours, taking its price above the key $30k level to $31,633.27.
- BTC’s price is also up over the last seven days and has risen by 7.73% in the last week.
- BTC may fall below $30K if bulls are unable to maintain the current price level between the 20 and 50 EMA.
Bitcoin (BTC) posted 3.77% gains in the last 24 hours, taking its price above the key $30k level to $31,633.27, according to CoinMarketCap. BTC’s price is also up over the last seven days and has risen by 7.73% in the last week.
The price of BTC is nearer to its 24-hour high of $31,949.63, with its low sitting around $30,329.25. However, its price has weakened against Ethereum (ETH) by around 0.49% at the time of writing. At the moment, 1 BTC coin is worth around 16.01 ETH.
Ranked number one on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, BTC’s market cap currently stands at $602,741,661,662. The daily trading volume of BTC has seen a substantial increase of 59.81% in the last day. This takes the total 24-hour trading volume to $38,209,222,459.
Looking at the daily chart for BTC/USDT, the price of BTC has risen above the 20 EMA line – a line that has been acting as resistance for the coin since mid-April. This is also around the time the 20 EMA crossed below the 50 EMA, which is a bearish flag. According to the chart, the bearish play did occur shortly after the 2 EMAs crossed.
The RSI line also recently crossed high above the RSI SMA line as BTC’s price broke above $31k. However, the RSI now looks to close the gap between itself and the RSI SMA line. BTC may fall below $30K if bulls are unable to maintain the current price level between the 20 and 50 EMA, as the two EMA lines still indicate that bears have the upper hand.
Ecosystem
Research
News Network
About