Weekly Gain of 5% Pushes Cryptocurrency Toward $88,000 Level
The post Weekly Gain of 5% Pushes Cryptocurrency Toward $88,000 Level appeared on BitcoinEthereumNews.com.
TLDR Bitcoin has climbed nearly 5% in the past week, reclaiming key support levels. BTC needs weekly closes above $88,400 and $93,500 to end its downside deviation period. Analysts suggest a reclaim of the $90,000 level could propel BTC to jump between 8-14%. GameStop has approved adding Bitcoin to its treasury reserves. President Trump’s Global Reciprocal Tariffs decision on April 2 could impact Bitcoin’s price movement. Bitcoin has shown positive momentum over the past week, climbing nearly 5% and reclaiming key support levels. The flagship cryptocurrency has pushed toward the $88,000 mark, with analysts suggesting a potential reclaim of its previous price range is within reach. After being rejected from the $84,000-$85,000 zone several times in the past two weeks, Bitcoin finally reclaimed this range over the weekend. BTC surged 4.7% from last week’s levels, closing above the $86,000 mark. During the start-of-week pump, Bitcoin eyed the $89,000 resistance level. It hit a biweekly high of $88,765 but failed to retest the next crucial zone as bullish momentum slowed. Bitcoin Price on CoinGecko The cryptocurrency has held its current range well. It has been hovering between the $86,000-$88,000 support zone for the past 24 hours. Analyst Alex Clary believes Bitcoin’s momentum “looks awesome” for a break above the $88,000-$90,000 support zone. His optimism stems from Bitcoin showing a Relative Strength Index (RSI) bullish divergence, a V-shaped recovery, and a breakout above its downtrend resistance. A breakout and reclaim of the crucial $90,000 resistance level could be very positive. It might propel BTC to jump between 8 to 14% from current prices to the $95,000-$100,000 levels lost in February. Trader Daan Crypto Trades noted that Bitcoin “has not moved much in the past few weeks relative to SPX.” According to him, BTC’s price has been correlated to the S&P 500 (SPX)…
Filed under: News - @ March 26, 2025 3:22 pm