Bitcoin’s price action continued throughout the weekend, leading to an upside to the crypto trading graph at the beginning of the week.
Bitcoin entered the week with a price trajectory hovering above $37,000. In the last 24 hours, it saw a slight movement slowdown, with resistance levels at $37,500. It could have resulted from some profit booking over the weekend when BTC surged close to $38,000. The uptrend in the crypto market may see corrections ahead, but its long-term projections are bright. Currently, the movements of the crypto trading graph is optimistic.
Bulls helped BTC trade above its 20-day moving average, which sent optimistic trading signals in the market. Investors would have to build strength for BTC above $38,000 for it to touch $40,000 soon. In the meantime, Bitcoin may have to consolidate above its current resistance levels to initiate another rally.
Market volatility levels have decreased in the last few days. Liquidity for the US Dollar had also increased steadily, which could aid BTC in climbing higher. Bulls may keep trying to overcome BTC’s psychological resistance levels, which are near $37,900, in the short term. Meanwhile, Ethereum’s weekly returns have averaged around 2.5%, with its market cap at $246 billion. Other tokens like BNB, XRP, and Solana saw mixed results in the last 24 hours.
BTC/USD 1D price chart
Bitcoin is currently trading at around $37,300 on November 27, 2023, with BTC/USD trading lower by a margin of 1.1% in the last 24 hours. Bitcoin’s market cap is trading at around $730 billion.
BTC/USD is trading higher than its 20-day EMA (36,288.70), as BTC’s 24-hour volume was at around $15 billion. The crypto market cap decreased by around 1.17%, trading above $1.42 trillion. BTC’s year-to-date returns are above 125.51%.
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