According to popular crypto analyst Ali Martinez, the world's largest cryptocurrency Bitcoin (BTC) is trading in a narrow range between two key levels that could determine its next move.
Analyst Ali Martinez Evaluates Bitcoin
Martinez shared his new assessment on Twitter and pointed out that the $30,270-32,150 resistance, where 770,000 wallets bought 360,000 BTC, remains a formidable hurdle for Bitcoin.
He also noted that the $29,330-30,200 support is strong, with 700,000 addresses buying 390,000 BTC.
Bitcoin price is trading at $ 30,265 at the time of this writing. BTC has gained approximately 8% in the last week.
He warned his followers to be cautious if the support level is broken, as the next key support lies at $27,600-28,450.
Ali Martinez also talked about another cryptocurrency, Cardano (ADA). According to the analyst, the number of large ADA transactions has been on the rise, indicating that activity on the Cardano network has increased as institutional buyers and whales make their moves.
Cardano price is trading at $0.44 at the time of this writing and has gained approximately 15% in the last week.
*Not investment advice.