Bitcoin. Photo by Aleksi Räisä via Unsplash.

Bitcoin dawns in a healthy region so far as Solana restarts its network.

BTC dawns in the $23,410 region and starts a bearish correction leg within a bullish megaphone pattern.

We have already mentioned in other reviews that there is support for bitcoin price in the region close to $22,000. So far, even with the loss of volume for an attempt to rise, the movement is still healthy, according to technical analysis.

The important thing is to follow the inflow and outflow of capital to know who will take the price direction in the fight between bulls and bears.

bitcoin price
BTC/USD, 4 hour candlestick chart. Source: TradingView

Solana experiences technical issues again

On February 25, the Solana network experienced problems due to an update to its validator software, which caused a slowdown in block production and interruptions in transactions. The validators tried to go back to the previous version of the software, but it was not enough and it proved necessary to restart the network to solve the problem.

The Solana token (SOL) remains in a valuable region so far, and according to the “smart money” indicator, this is a region of high seller interest to keep prices below this region of $22.75.

If a “short squeeze” happens, we can see that the next region marked by a red quadrant is in regions that would take the SOL token to the region of $33 to $38.

SOL/USD, daily candlestick chart. Source: TradingView

Macroeconomic calendar and news

Below is the macroeconomic calendar for Wednesday:

06:00 GBP Speech by Broadbent, MPC Member

10:30 USD Core Durable Goods Orders (Monthly) (Jan)

10:30 USD Durable Goods Orders (Monthly) (Jan)

12:00 USD Pending Home Sales (Monthly) (Jan)

14:00 EUR Statement by ECB’s Lane

20:50 JPY Industrial Production (Monthly) (Jan)

20:50 JPY Retail Sales (Yearly) (Jan)

cryptocurrency market indices

At the time of writing this article, bitcoin is priced at R$122,051, up 0.25% in the last 24 hours.

Ether is at R$8,544, up 2.26% in the last 24 hours, according to data from CoinGoLive. In dollars, BTC is quoted at $23,410 and ETH at $1,640.

The market capitalization of cryptocurrencies today is over $1 trillion, with exchange trading volume at just over $36 billion in the last 24 hours. Bitcoin’s dominance remains at 42.2% and Ethereum’s at 18.7%.

To keep following the moment of the crypto market and the main cryptocurrencies, come to Foxbit Discord and Cointimes Discord to talk to our community of traders and experts who are always connected to the main market events!

Read more relevant news:


Please enter your comment!
Please enter your name here