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Reading: Bitcoin and Altcoins Show Positive Signs as Investors Awaken
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COINTURK NEWS > Altcoin News > Bitcoin and Altcoins Show Positive Signs as Investors Awaken
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Bitcoin and Altcoins Show Positive Signs as Investors Awaken

In Brief

  • Day starts positively for Bitcoin and altcoins, prices rise with Asian investors.

  • OP Coin price hovers around $3.8, with recent 10% increase not satisfying.

  • Key resistance for OP Coin lies between $3.87 and $4.85 price range.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Bitcoin and altcoins generally started the day on a positive note, with prices climbing as Asian investors wake up. If BlackRock (IBIT) sees a net inflow of over $31.3 million in the next few hours, the outflow streak that began on March 18 could end. This could trigger a rise across altcoins.

Contents
OP Coin CommentaryOP Coin Price Prediction

OP Coin Commentary

As this article is being prepared, the OP Coin price is lingering around $3.8 and continues to be in the green for the day. Bitcoin is at $70,200, and markets are currently green with the expectation that the ETF outflow streak will end. OP Coin’s price had increased by nearly 10% on March 25, which is not satisfying for investors.

The MVRV ratio is above 10%, yet we cannot talk about the start of high-volume sales. This reflects investors’ expectations for the continuation of the rise. In previous periods, investor profitability between 3% and 9% had led to rapid sales.

The most significant barrier to an upward target is the 95 million OP Coins purchased in the price range of $3.87 to $4.85. If investors can maintain the asset, valued at $361 million, profitably during the rally, new peaks are possible with a BTC price increase.

OP Coin Price Prediction

Besides the optimistic scenario mentioned in the first section, there is also a possibility of a downturn. If BTC does not gain momentum as expected in the coming hours, OP Coin’s price could fall to $3.4. In a scenario where sales accelerate, dips to $3.2 would also be considered reasonable.

One of the most motivating details for those expecting a rise is the golden cross observed in the 4-hour chart. As we’ve known for years, this pattern is recognized as a harbinger of major rallies. A golden cross occurs when the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA.

The last time a golden cross was observed, the price of Optimism had increased by approximately 20%. If a similar move occurs this time, the price moving towards $4.5 could turn $4 into support. Since it’s been seen for the first time in two months, the optimistic scenario might deserve a bit more chance. And of course, no one can see the future, so investors should make their own assessments and form their strategies.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 March, 2024 - 5:03 am 26 March, 2024 - 5:03 am
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