In a 24-hour Trading Session, Bitcoin Outperforms Ethereum and Dogecoin with an Impressive 7% Surge
Bitcoin has seen a surge of over 7% during Friday’s 24-hour trading session, outpacing other popular cryptocurrencies like Ethereum and Dogecoin. This sudden move came alongside spot gold, which rallied almost 3% higher, reaching a price not seen since April 18, 2022. Bitcoin’s current resistance levels are at $28,690 and $31,418, while it has support levels below $25,772 and $25,288. Despite its struggles to maintain its position in the market after reaching its all-time high of nearly $65,000 in April 2021, this surge could be a positive sign for Bitcoin’s future. Ethereum trades in an uptrend, but it did not print a higher high on Friday, with support and resistance levels at $2,000 and $2,800, respectively. Despite the challenges, Ethereum has the potential to grow due to its use in decentralized finance (DeFi) applications. Dogecoin is trading in an uptrend, but it could be forming a lower high to negate that trend, and its support and resistance levels are at $0.20 and $0.40, respectively. Dogecoin has gained popularity due to endorsements from high-profile figures such as Elon Musk, but it has been criticized for lacking real-world use cases and being purely speculative. As more companies adopt cryptocurrencies, they may become more mainstream, increasing adoption and growth, but caution is advised as the market can be highly volatile.