Bitcoin Makes Bullish Move As Altcoins Struggle Ahead Of The US Elections Results

Bitcoin Makes Bullish Move As Altcoins Struggle Ahead Of The US Elections Results

With the United States of America preparing to announce the winners in the general elections, digital assets across the market have fluctuated throughout the period.

After a bullish run to cement its place above the $14,000 price mark, Bitcoin experienced a correction to move back below the price mark. With Bitcoin presently trading around the $13,800 region, its price has been shuttling between the $13,650 and $13,500 price region.

Currently, the bulls are still trying to take over the trend of Bitcoin as it is making moves to move upward as the United States of America prepares to declare the winners of the just-concluded general elections.

Bitcoin enjoys bullish move in the market

Similarly, major altcoins have recorded massive moves in the crypto market. Coins like TRX, EOS, XRP, LINK, and Litecoin are still trying to make bullish runs in the market. Ethereum on its own is still facing stiff resistance around the $385 price mark, with the bulls making sure it does not go below the $380 and $378 price region.

XRP, on its own, is currently undergoing a bearish run, and it is presently trading at $0.238 after testing the $0.235 support zone. Notably, the coin is presently volatile, with the bears threatening to drag it below its current price mark.

In the last two trading sessions, Bitcoin has recorded bullish runs as it is suttling between the $13,500 and $13,650 price support levels. However, Bitcoin might be getting ready to undergo another bullish run as the new resistance level of the leading digital asset has now moved to $13,880.

The previous resistance was around the $14,000 mark, and the bulls might put their aim on a 5% to 6% rise. If an upside break happens, a little bearish run should be expected to happen. The bearish support level has been shifted to $13,650, while the bulls must defend the $13,500 price level.

Ethereum, BCH, Chainlink struggle in the market

Ethereum has encountered one of the strongest selling interests in the market near the $385 and $386 level. Its next resistance level is now around the $392 while the bulls will be aiming to pull it above the $400 and $402 levels when they eventually take charge.

The coin could experience a bearish run, which would see it trade between the $378 and the #375 regions. Presently, the first critical support of Ethereum is said to be around the $372 price region, and a bearish run might see it move towards its next support level at $365.

Bitcoin Cash has struggled in the market recently as it has overcome the resistance set at $245 and has consequently begun to decline. The digital asset broke its latest $240 support and has recorded a 2% decline in the market today.

The bears have taken charge and are leading the price towards the $235 price mark while its main support level is around the $230 price level. Chainlink has also struggled in the market, and its price is trading around the $10.30 price mark. XRP has also declined, and its price is now on a decline towards the $0.238 support level.

David Pražák