- Bitcoin has reached $97,000 and is maintaining its position above key levels like $96,000.
- Support areas around $95,280 to $96,441 are being watched, while potential resistance may appear near $97,325 and above.
- The overall trend is upward, and the price movement may affect other cryptocurrencies in the coming days.
Bitcoin Price Hits New Highs
Bitcoin price has now hit a record high of $97,000, indicating sustained growth in its trend upwards. Trading at just below $97,000, Bitcoin has been able to pass the $96,000 mark and maintain strength on both the daily and weekly time frames. Though some pullbacks are likely to occur, overall direction remains bullish.
Several analysts are closely monitoring the bitcoin price action since Bitcoin’s rally may spill over into the rest of the crypto market and push other coins such as Ethereum, XRP, and Solana. At the moment, Bitcoin has broken above its 200 day moving average and is building solid support. There are other support points at $95,797 and $96,441, which may continue the upward trend.
Key Support Levels to Watch in Bitcoin Price
Yet, if Bitcoin goes below $95,280, it may mark the beginning of a bigger correction. Yet, at the moment, Bitcoin is still above this critical level, which shows its strength in the market.
Should the buying pressure continue, Bitcoin can aim for the next resistance levels at $97,325, $98,745, and even reach $100,000. These are key levels since they are areas where resistance could temper the price action. In the longer term, if the trend continues, Bitcoin may aim for the $115,000–$120,000 range.
In spite of some expected setbacks, experts believe the market is on its way to more gains. As long as Bitcoin is above the $95,280 support level, the trend remains bullish.
Also Read: XRP Price Rose 126% on Garlinghouse-Trump Talk, Will Larsen’s May 2 SEC Meeting Lift It?
