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Last Tuesday, bitcoin (BTC) came close to the mark of $ 32,000, but could not make a breakthrough. The coin has retreated, and today it is trading at $31,600.
Altcoins on Wednesday, June 1, were in the correction zone. Ether (ETH) and Binance Coin (BNB) lost 1.5% in value and fell to $ 1935 and $ 318.5, respectively.
Cardano, after an aggressive start to the week, began to suffer losses. Overnight, the ADA fell 10% to $0.607. XRP, Solana (SOL) and Dogecoin (DOGE) fell by about 3% to $ 0.415, $ 44.85 and $ 0.085. The capitalization of the crypto market during the Asian session fell to $ 1.3 trillion.
Bitcoin lacks the support for a breakthrough. Even if the $32,000 mark is overcome, it is unlikely that he will be able to achieve great results.
The strong resistance zone is in the range from $ 33,000 to $ 35,000. Investors who previously bought cryptocurrency at such a cost are likely to sell it in the event of a rebound in order to win back losses.
The RSI Relative Strength Index signals oversold BTC.
This indicator was at its lowest level since March 2020. The chances of a breakthrough remain, but the coin will need strong support from the bulls to radically change the trend.
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