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Crypto Market Bounced Back with Quick Recovery

After a long week of volatility, crypto market tuned into green

Cryptocurrency market has shown a strong recovery today after last week's crypto bloodbath. Bitcoin price again touched the important psychological mark of $40,000. Over the past 24 hours, both the total crypto market capitalisation and the price of bitcoin are up more than 8%, while the price of ether is up nearly 12%. Leading from the front, top altcoins like matic and link are up by 38.2% and 27.1% respectively.

Source - Coin360

BTC Technical Analysis

Bitcoin tried to break the important psychological resistance of $40,000 but wasn't able to sustain it for long and is currently trading around $38,500. Immediate support is at $37,500 and major one is around $33,000. Once it will be able to break and close above $40,000, We will be looking for $42,500 to $43,500 in the short term.

Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.


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