Bitcoin To $70K, Will the Bulls Confirm this Rally?
Release: 2024/05/27 22:29 Reading: 546
Bitcoin Price Surges over 13% in the Past Month
Over the past month, the price of Bitcoin (BTC) has experienced a remarkable 13% increase. On May 21, BTC reached a one-month high of $71,946.
Throughout May, Bitcoin witnessed significant volatility, oscillating between $62,000 and $70,000. As of late May, BTC briefly rallied towards its all-time high (ATH) but encountered resistance.
At the time of writing, BTC is trading at $68,541, marking a 1% decline in the last 24 hours. The daily trading volume has surged by 20.8% to $18.75 billion. The asset's price recently breached several resistance levels, reaching a peak of approximately $72,000. This price spike has fueled anticipation within the crypto community that BTC may approach its ATH of $73,750.
BTC's Next Target
Despite mixed signals, BTC maintains a bullish outlook as its current price exceeds the 21-day moving average (21MA). The daily RSI of 45.72 indicates that BTC is approaching the neutral zone, neither overbought nor oversold.
src="/uploads/20240528/17168259046654af30eec1b.png">
BTC 24H Price Chart (Source: TradingView)
Key Resistances and Support Levels
Analyzing the 24-hour price chart, Bitcoin's key resistances lie within the $69K-$73K range. The initial resistance level is at $69,625. If the bullish trend persists, the next key resistance is at $71,649. The ultimate target may be set at $73,982, a new ATH.
Conversely, if bears regain control, Bitcoin's price may bottom within the $65K-$67.5K range. In a bearish scenario, BTC could drop to a support level of $66,491 or even lower to $65,255 with strong bearish cues.
Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, has surged 25% in the past 30 days, entering the $3.9K zone. At the time of writing, ETH is trading at $3,902, up 2.6% in the past 24 hours, as reported by CoinMarketCap.
Highlighted News of the Day
- Pepe Coin Surpasses Uniswap and Polygon in Market Capitalization
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com