The past several days have been particularly volatile for the cryptocurrency markets, with Bitcoin (BTC) surging to highs of nearly $3,750 on Saturday before fully retracing to lows of $3,550. Despite this volatility, Bitcoin has been able to hold $3,550 as a level of support and has led the entire crypto markets to rise slightly today.<\/p>\n
Analysts are now saying that the market\u2019s ability to hold above its recently established\u00a0support\u00a0levels<\/a> may lead to further gains in the near future.<\/p>\n The recent volatility the crypto markets have experienced put their recently established support levels in jeopardy, but they have been able to stabilize above these key levels.<\/p>\n At the time of writing, Bitcoin<\/a> is trading up less than 1% at its current price of $3,600. Over the past few weeks, BTC has bounced each time it entered the $3,500 region, signaling that buying pressure exists at this price level.<\/p>\n Similar buying pressure has been seen for most major altcoins, which have all established certain levels at which they see strong support.<\/p>\n Trading Room, a popular cryptocurrency analyst group on Twitter, discussed these support levels earlier today, noting that Bitcoin, Litecoin, and Ethereum could all see a bounce if they are able to continue holding steady above their respective levels of support.<\/p>\n “$BTC $ETH & $LTC are holding Key Support Area… Next Target 100 & 200 MAs on Topside (Moving Downwards)… Check #Bitcoin #Ethereum #Litecoin Targets if we get that bounce… I am not gonna speculate on topside breakout or downside breakdown. Will react based on Breakout\/Breakdown,\u201d they explained.<\/p><\/blockquote>\n Furthermore, Trading Room said in a later tweet that they will only enter new long positions for the aforementioned cryptocurrencies if they are able to break above key price levels by the end of the day.<\/p>\n \u201cAll key levels holding across $BTC $ETH $LTC\u2026 Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above: 3675 #Bitcoin\u2026 123.50 #Ethereum\u2026 32.15 #Litecoin\u2026 Trend is your friend, allow it to develop,\u201d Trading Room said.<\/p><\/blockquote>\n All key levels holding across $BTC<\/a> $ETH<\/a> $LTC<\/a><\/p>\n Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above<\/p>\n 3675 #Bitcoin<\/a> Trend is your friend, allow it to develop https:\/\/t.co\/xpT00k5CMx<\/a><\/p>\n — Trading Room (@tradingroomapp) January 22, 2019<\/a><\/p><\/blockquote>\nBitcoin (BTC) and Crypto Markets Hold Steady<\/strong><\/h2>\n
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123.50 #Ethereum<\/a>
32.15 #Litecoin<\/a><\/p>\n