After reaching a new two-week high of over $ 58,000, Bitcoin has rebounded slightly and is currently trading between $ 56,500 and $ 57,000.
Most altcoins also posted slight losses over the 24-hour scale.
While the Ethereum currency is among the few exceptions, as the price of the currency reached the highest levels ever, and everyone is expecting to break the psychological level of $ 3000.
Bitcoin and the $ 57,000 level:
In the past few days, Bitcoin has finally moved and managed to break out of the resistance recorded at $ 54,000.
Bitcoin began to appreciate dramatically, adding $ 4,000 in value, reaching a high of $ 58,000.
This became the highest currency rate since the crash in mid-April.
The $ 57,000 level was the level at which the bears stepped in again and did not allow any further increases.
In the past few hours, Bitcoin has returned to fluctuation and decline to the level of 56 thousand dollars.
Despite recovering some of the losses, Bitcoin is still down 2.87% over the past 24 hours.
According to technical indicators, the first obstacles and resistances facing Bitcoin are the resistance lines at $ 58,355, $ 59,000 and $ 60,000.
While the major support lines stand at current levels from $ 56,950 – $ 57,000 which is the 50 day moving average line then $ 56,200 (20 day moving average, retested earlier this morning).
Further lower lies the previous resistance of $ 55K, which has turned into support.
Ethereum and the $ 3,000 level:
Most of the alternative digital currencies have fluctuated recently with remarkable gains, especially in light of the decline in the dominance of Bitcoin on the market.
But altcoins have also calmed down in the last 24 hours and are eagerly awaiting Bitcoin’s movement with the weekly close.
The Binance coin fell by 3%, but is still slightly above $ 600, the currency’s decline comes after the currency recorded its highest level ever yesterday at around $ 645.
Most of the large and medium-cap alternative digital currencies have red indices regarding the 24-hour indices, while the weekly ones are still green.
In the end, the cumulative market value of all cryptocurrencies lost about $ 30 billion but remained above $ 2.15 trillion.