Ethereum

Solana

Bitcoin

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/microstrategy-acquires-more-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Acquires More Bitcoin</a><br></p>
<p style="text-align: justify">MicroStrategy has recently increased its Bitcoin holdings, even amidst significant market fluctuations. Despite the previous volatility, the company remains steadfast in its investment strategy, purchasing additional BTC while prices hovered around $57,300, after briefly surpassing $58,000. The broader cryptocurrency market has faced weeks of declining prices, with many significant altcoins losing up to 50% of their value in a matter of months.</p>
<h2 id="ethereum-s-price-outlook">Ethereum’s Price Outlook</h2>
<p style="text-align: justify">Ethereum (ETH) saw its value drop sharply, reflecting the overall negative market sentiment. Following BTC’s swift $1,000 loss, ETH has struggled to maintain its price levels. The EMA20 resistance at $3,239 indicates strong selling pressure. Investors’ expectations were further dampened by the anticipation of rapid exits similar to those seen with the ETHE trust’s ETF listing. If ETH fails to reclaim the $3,239 level, it risks falling to $2,850, with potential further declines to $2,200 if support is broken.</p>
<h2 id="bnb-coin-faces-challenges">BNB Coin Faces Challenges</h2>
<p style="text-align: justify">BNB Coin, despite reaching an all-time high (ATH) above $700 earlier this year, is currently facing significant selling pressure. This follows a positive period marked by the end of a lawsuit and heightened demand on the Binance Smart Chain (BSC) network. Presently, BNB is trading around $547, with bears eyeing a retest of the $495 support level. Failure to hold this level could lead to a downward movement toward $460.</p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/solanas-price-peaks-attracting-crypto-market-attention" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) has been relatively more stable, striving to surpass the SMA50 level despite market negativity. Trading between $116 and $150, SOL’s price action reflects the cautious optimism of <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> following <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the announcement</a> of a SOL ETF. However, the descending triangle formation suggests that bears are targeting sub-$116 closures, which could normalize prices at $100 or even $80.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">– Ethereum must reclaim $3,239 to prevent further decline.<br> – BNB Coin needs to hold above $495 to avoid dropping to $460.<br> – Solana’s stability depends on maintaining support above $116.</p>
<p style="text-align: justify">In summary, while the cryptocurrency market remains volatile, understanding key support and resistance levels for major altcoins like ETH, BNB, and SOL can help investors navigate potential risks and capitalize on recovery opportunities.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/microstrategy-acquires-more-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy Acquires More Bitcoin</a></h5>

MicroStrategy Acquires More Bitcoin

Table of Contents

BH NEWS

Other articles published on Jul 12, 2024

Top Airdrops for Crypto Investors

EtherFi Price Drops After Whale Dumps Tokens Worth $1.8M into Binance

THETA and ONDO Holders Shift Focus To New Kid On The Block With Incredible Revenue Sharing Model

Dogwifhat and Shiba Inu Tucks Tails as Investors Flock to Utility-Driven Coin Rollblock For 100x ...

1M Origin Cycle Theory Predicts Major Bullish Reversal for XRP

Monthly Wrap-Up February 2024: Crowdloan, Governance and Treasury

Join our free newsletter for daily crypto updates!