Bitcoin‘s price remained stable today despite significant events, with the most notable being the Coinbase hearing. The SEC made mistakes reminiscent of the GBTC defeat, suggesting a potential rise in altcoins if the judge’s crypto-friendly stance influences the outcome. Predictions for Reef, ENS, and BCH are eagerly awaited.
REEF Coin, after a 110% surge from its October 20 low, has retracted nearly 40% of its gains. During the holiday week, as Bitcoin consolidated, altcoins saw increased risk appetite reminiscent of bull market days. However, ETF excitement was dampened by planned absurdities, leading to significant losses for altcoins.
Reef Coin is now waiting to overcome the $0.00169 barrier, a previous resistance level. If successful, it could retest the $0.0019 and $0.0023 peaks. Otherwise, a drop to the $0.0012 support level is possible.
ENS Coin’s price has significantly benefitted from Vitalik Buterin’s support, justifying long-term optimism. However, it has yet to break the $28.27 resistance level from April and May 2022. It needs to maintain $20 as a strong support level.
Bitcoin Cash’s last opportunity with EDX Markets did not materialize, and the idea of listing it due to its BTC fork status was abandoned by trillion-dollar giants. BCH and BSV are seen as failed attempts despite intermittent rises, and long-term prospects remain uncertain, with whales possibly using every opportunity to sell. Technical analysis suggests that if BCH closes above $238, it could target $270 and $297 resistances, with a key support at $220.