After tracking sideways over the weekend, Bitcoin fell to around $26,100 on Tuesday, down from approximately $26,450 on Monday.
It found a base at $26,200 for much of Tuesday and Wednesday, before shooting back up to over $26,800 Wednesday evening. The rally was short-lived though, and the cryptocurrency quickly reversed to the $26,200 support once again.
On Thursday, Bitcoin is staging a more sustained recovery, climbing steadily back to around $26,900 as it trades 2.22% higher so far today.
Although Bitcoin has experienced a near 1.3% drop from a week ago, the recent price steadiness and increase may signal a bounce back from the sell-off seen earlier in the week, as per some analysts.
With Bitcoin trying to reestablish its momentum, various altcoins including Calcium, SPX6900, and FINE are experiencing substantial volatility, thereby emerging as some of the biggest crypto gainers today on DEXTools.
Calcium (CAL) has posted exceptional gains since its launch on September 22, increasing over 7,854% so far in just over a week. Currently up 55.75% so far today, CAL is approaching its historic high of $0.06691 from September 25.
The hourly 10 EMA for CAL currently stands at $0.05469, comfortably above the 20 EMA of $0.05086, and significantly higher than the 50 EMA of $0.04389.
This scenario, where shorter-term EMAs cross above longer-term EMAs, typically indicates a bullish trend. The significant gap between these EMAs underscores the strong bullish sentiment driving CAL's market.
The current RSI for CAL is at 68.90, inching towards the overbought threshold of 70. This raises the possibility of a false breakout and potential RSI rejection at the 70 level, indicating the current rally might temporarily slow down or correct.Read more on cryptonews.com