Bitcoin breaks resistance, has the halving rally begun?

Bitcoin breaks resistance, has the halving rally begun?

Crypto asset markets are in the green again today with Bitcoin leading the pack as it breaks resistance, bringing in hope for halving rally.

Over the past 24 hours, another US$12 billion [AU$18.8 billion] has entered digital asset markets taking total capitalization up to $216 billion. Bitcoin is leading the way today as it breaks resistance at $7,400 and prints a new monthly high of $7,750 according to TradingView.

This is the highest level it has been at since the mid-March crash, making an almost complete recovery from that dump.

BTC is now trading above the 50-day moving average and is closing in on resistance at the 200-day moving average just above current levels.

Analysts are now leaning bullish again with the halving just 18 days away.

Green is dominating the crypto markets today with Ethereum also performing well, adding a couple of percentages to reach a monthly high of $190.

Today’s top two performing altcoins are Stellar and Cardano with both in double figures, while Tezos has again made good gains with a further nine percent on the day.

Markets have finally broken their monthly resistance levels and further gains are looking likely.

Featured image courtesy of Alexas_Fotos / Pixabay

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.