Bitcoin’s recent surge above $30,000 has improved traders’ sentiment and triggered buying interest in altcoins ARB, VET, and STX. The recovery of both Bitcoin and Ethereum has sparked speculation about a new bull market for cryptocurrencies. However, traders should remain cautious as the recent drop in Ether exchange balances may have been triggered by regulatory actions against Binance and Coinbase.
The article provides a technical analysis of the short-term prospects of Bitcoin, Ethereum, ARB, VET, and STX. Bitcoin’s 16% climb this week suggests a bullish trend, but it needs to break above $31,000 to continue its upward momentum. Ethereum faces resistance at $1,928, but if buyers overcome this barrier, it could surge towards $2,148-$2,200. Meanwhile, ARB, VET, and STX have all shown signs of rebounding from recent lows, with potential for further upside if they break through key resistance levels.
The article emphasizes that readers should conduct their own research before making any investment decisions, as every trading move involves risk.