The cryptocurrency market has experienced a period of stagnation over the past 24 hours, with Bitcoin unable to make any significant moves. However, this could be seen as a stepping stone towards a potential push towards the $27,000 mark.
While most altcoins have also remained relatively flat, there have been a few exceptions. Let’s take a closer look.
Bitcoin’s price has remained stagnant over the past day, hovering around the $26,500 mark. According to the co-founder of Glassnode, $27,000 is the next major resistance level for Bitcoin. However, there may be some selling pressure at around $27,400 and $28,200 if the cryptocurrency is to reach that level. Despite this, the co-founder believes that the current increase in Bitcoin’s price could eventually lead to a test of the coveted $30,000 level.
In terms of altcoins, there hasn’t been much action in the past 24 hours, which is not uncommon for the weekend. Leading cryptocurrencies such as Ethereum, XRP, SOL, TRX, ADA, DOGE, and BNB have all experienced minimal changes below 1% in either direction. This can be seen in the heatmap below.
One notable exception is TON, which has seen a significant increase of 12% in the past 24 hours. This cryptocurrency has consistently been one of the best performers over the past week, with a nearly 40% increase during that time. On the other hand, Axie Infinity’s AXS token is today’s worst performer, down about 6.4%, followed by Kaspa’s KAS, which is down 5.5%.
It’s important to note that the cryptocurrency market tends to be slower on weekends, so these fluctuations may not be indicative of long-term trends.
In conclusion, the cryptocurrency market has experienced a period of stagnation, with Bitcoin unable to make any significant moves. However, there are indications that Bitcoin may be preparing for a push towards the $27,000 mark. Altcoins, on the other hand, have remained relatively flat, with a few exceptions. TON has seen significant gains, while Axie Infinity’s AXS token and Kaspa’s KAS have experienced losses. It will be interesting to see how the market evolves in the coming days.
Sources:
– [Glassnode co-founder’s analysis](https://cryptopotato.com/bitcoin-btc-price-prediction-this-level-comes-next-according-to-glassnode-co-founder/)
– [Cryptocurrency charts by TradingView](https://www.tradingview.com/ideas/cryptocurrency/)
❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
View J-S Tremblay website
