Bitcoin (BTC) continues to grapple with the persistent resistance at $69k, while Solana (SOL) remains resolute in its aim to reach $216 despite encountering recent setbacks. Amidst these market dynamics, investors are urged to take action and seize the opportunity to invest in Furrever Token before its presale concludes. With the potential for significant growth and a unique blend of adorable cat imagery and playful aesthetics, Furrever Token presents an enticing prospect for early backers. Don’t miss out on this chance to participate in the exciting world of cryptocurrency with Furrever Token.
Bitcoin (BTC) Faces Persistent 69k Resistance
With a market capitalization of $1.354 trillion, the leading cryptocurrency Bitcoin (BTC) continues to trade below the $69k level. Yesterday, Bitcoin (BTC) started the day at $67,969, tested $66,600, and closed at $68,549 with a 0.85% increase. Today, Bitcoin (BTC) has made a slightly positive start and is currently trading at $68,757, up 0.30%, just below the $69k resistance level.
Bitcoin (BTC) Technical Analysis
Bitcoin (BTC) has fallen below $69k due to selling pressure and continues to trade at this level. After a sharp rise to $72k earlier in the week, Bitcoin (BTC) faced selling pressure from $72k and dropped back below the $69k support level, indicating a shift in market sentiment. A review of Bitcoin’s (BTC) daily chart shows that after testing $72k, it encountered selling pressure again, and the $69k support level has now turned into a resistance level. Previously, Bitcoin (BTC) faced selling pressure at the $72k resistance area. If Bitcoin (BTC) manages to close daily above $69k, it could target the $72k and $74k peaks and possibly new highs. If it continues to close below $69k, investors should watch the support levels at the EMA5, which is $68,588, and the EMA21, which is $66,282.
Solana (SOL) Aims for $216 Despite Recent Setback
With a market capitalization of $76.06 billion, Solana (SOL) ranks fifth behind Bitcoin (BTC). After consolidating between $116.0 and $164.50 for over a month, Solana (SOL) broke through the $164.50 resistance and began its journey towards $216. Following this break, Solana (SOL) reached $189 but then faced selling pressure again. Yesterday, Solana (SOL) started the day at $176.15 and closed at $167.70, down 4.80%. Today, Solana (SOL) made a positive start and is currently trading at $169.20, up 0.89%.
Solana (SOL) Daily Chart Analysis
Solana (SOL), the fifth-largest cryptocurrency by market capitalization, accelerated its rise after breaking above the $116.0-$164.5 range it maintained for over a month and tested $189. Reviewing Solana’s (SOL) daily chart, we see that it retraced to the EMA21 support level yesterday, closing at $167.70, above the $164.50 support. If Solana (SOL) continues to close daily above the $164.50 support, it is likely to resume its upward trend and reach the $216 target. Daily closes below the $164.50 support would indicate a breakdown in market structure and increased selling pressure. In the event of heightened selling pressure, the first support levels for Solana (SOL) are at $156.35 (EMA55) and $146.78 (EMA100).
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