Analysts and experts have taken relatively optimistic views of their crypto market predictions, with Bitcoin consolidating over the $27000 level.
Bitcoin has remained stable over the $27000 level, while crypto market predictions have improved after turning bearish over the previous week. Most altcoins were still trading with relative losses, but the volume of losses has decreased slightly.
Ethereum was trading at $1817 on April 25, which was quite lower than its trading range of over $1950 a few days ago. Bitcoin has continued on its path of consolidation as further crypto market predictions await the meeting of the Federal Open Market Committee next week. Bitcoin’s trading range is tight, with support forming at $27100 while resistance is strong at $27650.
The crypto market’s outlook looks positive for the long term, even if it fails to hold on to its current support. Plummeting toward $25000 could allow bulls to support the market heavily with increased buying. Amongst other tokens, Polygon, Dogecoin, Polkadot, Cardano, BNB, and XRP couldn’t register gains in the last 24 hours.
Inflation figures in the next month and an update on the upcoming interest rate hikes could help decide the trajectory of the crypto market in the short term. BTC’s support is strong at its 50-day EMA, while positive quarterly results of corporates could also provide a much-needed boost to the economy and the crypto market.
BTC/USD 1D price chart
Bitcoin is currently trading at around $27300 on April 25, 2023, with BTC/USD down by almost 0.70% in the previous 24 hours. Some analysts expressed improved sentiments with the crypto market predictions in the short term. BTC/USD is trading lower than its 20-day EMA (28,711.23). Bitcoin’s 24-hour volume is around $15 billion.