We are seeing a lot of green in the recent Bitcoin and altcoin movements. According to the latest crypto news, most of the top 20 cryptocurrencies have risen in value this Sunday, and Bitcoin is one of the most stable coins right now.
Even though Ripple is leading the growth with a 9% increase over the past 24 hours, Bitcoin is stable over the $6,500 margin. After failing to break the $6,800 resistance recently and declining against the US dollar, Bitcoin still remains in a stable trend with support at $6,400 and a current value of $6,588.
If we look at the daily charts, we will notice that the Bitcoin price is placed nicely above the trend with a support at $6,400 and a desire to push beneath the $6,700 and $6,800 resistance level. The main resistance for a larger move and a potential bullish trend is $7,000.
Currently, many people believe that Bitcoin is moving forward even with the issues around the low volatility and market volume, which don’t seem to be a concern right now. The only concern, according to analysts, is the timeframe in which Bitcoin could initiate another bullish run and go near the $7,000 margin.
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