Investors were a little nervous on Monday and Tuesday, but the important support level at $26,500 remained intact, and as soon as the news flow stabilized, the market returned to buying.
By Wednesday, the flagship cryptocurrency is trading at $28,080.
Technically, it needs to break up and consolidate above $28,125-28,200 to actualize the $29,000 buy target. The $35,000 target also remains valid.
Everyone got scared when the SEC announced claims against Binance. But the panic subsided as quickly as it arose: the market is well aware that the “tumble down” of such a giant will be a collapse for the cryptocurrency sector. Few people really need it.
The correlation with the US stock market has now weakened locally. This is good, because otherwise the support in BTC would not survive.
Previously, we have already paid attention to interesting ideas in altcoins. They remain in force: in coins, there is a serious potential for strong growth. Over the week, the XRP rate rose by 22% against a fall in BTC by 0.20%. There is a lot of volatility in SOL and ADA right now, but these coins are becoming more and more liquid. You can look aside (weekly growth is 13.5%), and .
By the way, the exchange rate of the token, in which the “whales” are now actively increasing their share, has decreased by 89% over the week. It is worth paying attention to this story too.
