Tuesday, September 21, 2021
HomeNewsBitcoin's uptrend in danger, Tezos climbs to three-month high

Bitcoin’s uptrend in danger, Tezos climbs to three-month high

Bitcoin (BTC) is below an important price target for a conciliatory weekly close on September 10th, which is why the experts warn that the market-leading cryptocurrency’s upward trend of several weeks is in jeopardy.

Bitcoin price chart (Bitstamp). Source: TradingView

BTC needs $ 1,500

As data from Cointelegraph Markets Pro and TradingView show, BTC / USD is trading at just under $ 46,000 on Friday, having previously failed at the $ 47,450 mark.

In the weekly chart, this hurdle marks the lower end of the upward trend in Bitcoin, which has been in place since mid-July.

Now BTC / USD needs a jump back above this resistance in order to maintain the upward trend, as crypto expert Rekt Capital explains.

However, since Bitcoin is currently 1,500 US dollars below this target, it needs a smaller upswing over the weekend so that a conciliatory end of the week can be achieved on Sunday evening and the upward trend is not torpedoed.

Tezos stronger than the rest

Meanwhile, there is a surprise with altcoins, because more and more crypto investors are suddenly investing in Tezos (XTZ).

After the project recently performed as strongly as other large altcoins, XTZ / USD has clearly set itself apart from the rest of the field on Friday with a gain of 24%. As a result, the previous winner of the day was able to climb to 6.53 US dollars, its highest level since mid-May.

Tezos stock chart (Coinbase). Source: TradingView

The reason for the sudden success could be due to the hype surrounding the company Non-fungible tokens (NFTs) of the musician Doja Cat triggered because these are located on the Tezos blockchain.

Altcoin market leader Ether (ETH) was able to catapult itself up in direct comparison with BTC, which Cointelegraph expert Michaël van de Poppe interprets as a good sign for the runner-up.

“Get ready for a new high flight”, like this one after the upswing of ETH / BTC to a price of 0.071 forecast.

Ether stock chart (Bitstamp). Source: TradingView

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


Please enter your comment!
Please enter your name here

Trending News

Recent Comments