Bitcoin
Bitcoin Price Prediction as Bulls Defend $61,000 Level – Here Are the Key Levels to Watch Next
Last updated: May 12, 2024 11:09 am EDT | 2 minutes of reading
In the last Bitcoin price prediction, the main cryptocurrency hovers around $61,154, reflecting a slight increase of 0.60% in 24 hours. With a robust trading volume exceeding $13 billion and a market capitalization close to $1.2 trillion, Bitcoin demonstrates resilience as bulls struggle to hold the $61,000 support level.
Bitcoin Price Prediction
At the moment, BitcoinPrice action hovers around a crucial point set at $60,975, suggesting a downtrend Bitcoin Price Prediction as long as BTC remains below this level.
If the price manages to sustain above this level, it could challenge the immediate resistances placed at $63,400, $65,050 and potentially $67,160. If breached convincingly, these resistance levels are critical markers that could lead to further bullish momentum.
On the other hand, Bitcoin’s support levels are $59,075, $56,640, and $54,400. A drop below these values could signal a downward recession, intensifying selling pressures and potentially leading to more significant price drops.
Technical indicators offer a mixed view. The Relative Strength Index (RSI) is currently at 45, which is in neutral territory, suggesting a balance between buying and selling pressures.
However, the 50-day exponential moving average (EMA) at $61,875, which is slightly above today’s price, suggests a bearish tone. This indicates that Bitcoin may struggle to maintain upward momentum unless it can consistently close above this moving average.
In summary, while there is potential for upside if Bitcoin can overcome key resistance levels, the price’s proximity to the EMA 50 and neutral RSI pose challenges.
Traders should watch whether Bitcoin can hold support above $60,975 or whether it will succumb to bearish pressure, potentially revisiting lower support levels.
Mega Dice pre-sale is almost complete with US$913,000 raised: last chance before price increase
The Mega Dice pre-sale is close to reaching its goal, having successfully raised US$913,229 with over 13.23 million US$DICE tokens sold out of a total of 14.7 million available. This increase in investment underscores the growing interest in crypto-integrated iGaming platforms in the Web3 space, where Mega Dice is making significant inroads.
Layer 2 solutions, while primarily improving Ethereum’s scalability, reflect market fluctuations. However, as Ethereum maintains a dominant 63.42% market share with $54.3 billion in total value locked, its performance directly influences Layer 2 results.
In the growing GambleFi sector, Mega Dice stands out by leveraging its native $DICE token to revolutionize the online gaming experience. Players use $DICE to play, reaping benefits such as entry into exclusive competitions and access to a loyalty program that promises generous rewards and VIP experiences.
Additionally, Mega Dice announced a buyback and burn strategy to maintain the scarcity of the token and increase its market value. With the pre-sale coming to an end and the next pricing phase imminent, now is a crucial time for potential investors.
Stay up to date with Mega Dice news on platforms like X/Twitter and Telegram, and consider joining the pre-sale before the price increases to $0.069 per $DICE token.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.