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BTC Price Gain Bullish Momentum: Eyes On Cardano New Version

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Bitcoin is gradually surging above the $26,500 resistance level and trading above the 100 hourly Simple moving average.

On the hourly chart of the BTC/USD pair, there’s a crucial bullish trend line forming with support near $26,600.

The pair could potentially rise higher if it manages to break through the $27,200 and $27,500 resistance levels.

Recent increases led Bitcoin to settle above the $26,000 resistance zone, as it climbed steadily above $26,200 and $26,500. However, despite spiking above the $27,000 level, there wasn’t enough bullish momentum.

Currently, with Bitcoin price trading above $26,500 and the 100 hourly Simple moving average, the price is facing resistance at the $27,200 level.

Bitcoin price trading

A close above the $27,500 resistance could induce bullish moves in the near term, with the $28,500 mark being the next significant obstacle.

Beyond that lies the $29,200 resistance zone, which the bulls could navigate Bitcoin towards.

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Cardano Boosts Its Blockchain with New Node Release, Fueling Potential ADA Price Recovery

Cardano, known as a competitive Ethereum alternative, has just released a new version of Node 8.1.1 on the blockchain’s mainnet.

Despite regulatory crackdowns, Cardano developers are committed to advancing their blockchain technology and improving its performance.

The latest technical update includes significant improvements and performance upgrades, which bodes well for ADA’s recovery in the short term.

The recent drop in ADA price has been steep, from $0.3793 to $0.2591 on Binance at the time of writing, declining by 31.7% between June 5 and June 20.

With the release of version 8.1.1, a catalyst for ADA’s price recovery is now in place.

Once the token’s value begins to recover, it aims to surpass the 10-day Exponential Moving Average resistance level at $0.2726. The $0.3537 level, which previously provided support in May, is the next goal for the altcoin.

altcoin value

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  • Zahari Rangelov

    Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.