Polkadot is among the most improved crypto assets, with its 15% double-digit gains. Kusama is up 25.5% to trade at $516, while Monero gained 14% to trade at $277 in the same period.
Can Bitcoin bulls sustain the uptrend to $40,000?
The Moving Average Convergence Divergence ( ) indicator recently flipped , affirming the recovery from $31,000 to $37,000. As the line stroke above the signal line, a call to buy was heeded. Note that a break into the positive region (above the zero line) may encourage more investors to join the market, thereby adding credence to the narrative.
The SuperTrend indicator has also flipped with a buy signal, hinting at an impressive turnaround following the appreciably deep beginning of the week. This call to sell occurred as the indicator moved below the price and changed from red to green.
It is worth mentioning that the SuperTrend follows the trend of an asset while accounting for the in the market. The buy signal implies that the general direction would be upward; hence investors should consider taking long positions.
On the flips side, the ( ) shows that the momentum from the support has fizzled out. This follows a possible correction before the hits the overbought area. On the downside, a retreat toward the midline will indicate that bears are getting stronger. Support at the 100 and the 50 must be defended to avert another to $33,000 and $31,000, respectively.
Bitcoin intraday levels
Spot rate: $37,198
Support: $36,000 and $33,000