Cryptocurrency
Crypto Market Reaches Inflection Point Following Recent Rally
As reported on Bloomberg, “Following a swift rally over the past week, the Bloomberg Galaxy Crypto Index is now coming up against a key inflection point. “The index, which tracks some of the largest digital currencies, is approaching 350, a so-called technical resistance line that once acted as a support. If it can break through 350, […]
As reported on Bloomberg, “Following a swift rally over the past week, the Bloomberg Galaxy Crypto Index is now coming up against a key inflection point.
“The index, which tracks some of the largest digital currencies, is approaching 350, a so-called technical resistance line that once acted as a support. If it can break through 350, then it could rally toward the 400 area, implying a near 15% gain.
“The index has flirted with that resistance level over the past three trading days, with Bitcoin and Ether — its two largest holdings — leading it higher. On the downside, the index could find support around 300…”