Bitcoin‘s value is witnessing an upswing, heralding a promising start to the week as tensions with China diminish. While this price increase raises optimism, it doesn’t imply a complete turnaround for the cryptocurrency landscape. What lies ahead for AVAX and Shiba Coin?
Could Bitcoin Sustain Its Momentum?
The easing of relations with China has catalyzed Bitcoin’s recent ascent. Yet, the market must solidify confidence by establishing the $92,000 mark as a new support level. Many cryptocurrency enthusiasts have experienced repeated false spikes, leaving them skeptical about the longevity of the current rally.
For the first time in nearly two months, Bitcoin has surpassed the $91,000 threshold, igniting hopes that the market is rapidly pricing in significant shifts. A global surge of investors, correctly interpreting recent dynamics, often sets the stage for market movements.
What’s Next for AVAX and Shiba Coin?
AVAX has recently managed to ascend past the $21 mark after multiple attempts, struggling with this level for over 25 days. The overall bearish market sentiment has hampered its progress, and unlike SOL Coin, AVAX has not benefitted from a notable positive divergence.
Should AVAX achieve daily closures above $21.85, it may bolster its chances for further advancements in the $23.4 to $27 range. However, Bitcoin’s ability to maintain support at $92,000 is vital for this progression.
For Shiba Coin, a crucial threshold to watch is $0.0000128; surpassing this could lead to further rises toward $0.0000147. After a prolonged downturn, a rebound from this low value would be remarkable.
- Bitcoin’s price increase is linked to reduced tensions with China.
- AVAX struggles at the $21 mark but may rise if it surpasses $21.85.
- For SHIB, crossing $0.0000128 could lead to new highs.
As Bitcoin continues its upward trend, the cryptocurrency community keeps a watchful eye on AVAX and Shiba Coin, eager to see if these assets can capitalize on the momentum and convert their technical thresholds into support levels.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/bitcoin-surge-sparks-interest-in-avax-and-shib