Altcoins are reaching multi-year highs while Bitcoin price builds momentum for the next run at the $40,000 level.
Category: Chainlink
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The investor spotlight is now shining on DeFi tokens and trading.
Chainlink and Aave soared to a new all-time high as Bitcoin bulls struggle to hold BTC price above $32,000.
Bitcoin price has rebounded above a key trendline but resistance at higher levels may limit the recovery in altcoins.
There appears to be strong support around $30,000, according to traders.
Bitcoin fell by over $3,300 while options traders see ether going higher.
Altcoins have entered a slight correction after Bitcoin’s relief rally lost steam and the price dropped below $35,000.
Bitcoin’s lower support retest was bought up by bulls, preparing BTC for another push to $40,000.
Bitcoin may be down now but there is still growing demand for crypto assets, one analyst said.
Altcoins could also see a strong buying interest and may run up vertically if Bitcoin rallies above $30,000.