Bitcoin Breaks Above $4,000 Amidst Widespread Crypto Surge
The cryptocurrency markets have been able to maintain their upward momentum and Bitcoin has now broken above its resistance level that was previously set around $3,900. Bitcoin’s upwards move has sent the overall markets surging. Although Bitcoin is showing signs of increasing buying pressure, many altcoins have not yet been able to break above their resistance levels, with Ethereum still trading below $160.
Analyst: Bitcoin Must Maintain Above $4,000 For the Rest of the Day
Bitcoin breaking above $4,000 is certainly a positive development for the cryptocurrency’s price action, but one analyst claims that it must maintain above this price level for the rest of the day in order for him to turn bullish.
Ethereum’s price has climbed significantly, which is becoming an increasingly strong resistance level. At the time of writing, Ethereum is trading up marginally at its current price of $158. Over the past month on investor’s expectations for its upcoming Constantinople fork event which is scheduled to occur around January 16th. Several weeks ago, in mid-December, Ethereum was trading at $83, from which it is currently trading up over 90%
XRP is currently trading up 3.2% at $0.369 and is still trading below its one-week highs of $0.38.
Litecoin is one of today’s best performing altcoins and is trading up nearly 12% at its current price of $39.3. Litecoin is up from weekly lows of $30.