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Reading: Bitcoin Maintains Over $66,000 as Altcoins Show Renewed Activity
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COINTURK NEWS > Technical Analysis > Bitcoin Maintains Over $66,000 as Altcoins Show Renewed Activity
Technical Analysis

Bitcoin Maintains Over $66,000 as Altcoins Show Renewed Activity

In Brief

  • Bitcoin continues to close above $66,000, boosting altcoin activity.

  • PEOPLE Coin initiated a rally, reaching new peaks above $0.05.

  • FTM Coin increased by 25%, targeting higher peaks if bulls remain strong.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Bitcoin continues to close above $66,000, and altcoins have started to move again. Motivated by yesterday’s inflation data, cryptocurrencies gained over 5%, supported by ETF data. After weeks of nightmarish days, investors are hopeful for a rise again.

Contents
PEOPLE Coin AnalysisCHZ Coin Price PredictionFTM Coin Chart Analysis

PEOPLE Coin Analysis

Recently, PEOPLE Coin initiated a new rally above $0.3. We mentioned that this move could soon trigger a new peak above $0.05, and it did exactly that. After a 62-day hiatus, the speculative altcoin is back above $0.05.

The selling zone is at $0.055, and if the bulls can close above this threshold, the rally could accelerate to $0.062 and $0.069. Above $0.069, a potential peak up to $0.19 could be opened. In a bearish scenario, $0.042 and $0.036 are possible targets.

CHZ Coin Price Prediction

With closes above $0.32, CHR Coin bulls’ appetite for new peaks strengthens. The price is now striving to surpass the $0.34 resistance, supported by BTC price for the continuation of the rally. If demand remains strong, CHR Coin investors could target new peaks in the $0.4 and $0.47 range. The altcoin, which peaked at $0.56 as the March decline began, lost significant momentum with rapid sales but could now return to make new peaks in the same range.

In a bearish scenario, with the loss of support, CHR Coin could fall to $0.288 and $0.26. Below that, there is support at $0.232.

FTM Coin Chart Analysis

Among the top rising altcoins of the day, FTM Coin ranks third. It increased by 25% and is finding buyers at $0.81. The rises that started yesterday surpassed the resistance at $0.8. Thus, peaks beyond $0.86 can also be targeted. If FTM Coin bulls remain strong and no high-volume sales start, levels of $1.04 and $1.15 will be targeted again.

If sales start, dip hunters who took advantage of the 30% gain opportunity in a short time could round the price down to $0.73. This would cause FTM Coin to consolidate at lower levels for a longer period.

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 16 May, 2024 - 1:45 pm 16 May, 2024 - 1:45 pm
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