On Thursday, September 30, Bitcoin gained pace as its price rebounded to $43K leading cryptocurrencies up. This assisted Ethereum to come back at its $3K level.
The world’s largest cryptocurrency by market cap increased 2.88% to $43,346.04 with a 24-hour change of $1,211.78.
Currently, Bitcoin has a market capitalization of $816.19 billion. Also, it has a 24-hour volume of $862.07 million with a $40,910.70 low and $43,467.74 high.
Though it subsided in early trading, BTC remained robust over the support level of $40,750.
This resulted in a fresh increase above the resistance zone of $41,500. Then, the price broke the $42,000 level and the 100 hourly simple moving average.
According to the BTC/USD pair hourly chart, Bitcoin also cleared the key bearish trend line with a resistance of just about $42,200.
Moreover, the pair soared beyond the 50% Fibonacci retracement level of the key falling movement to $40,771 low from $44,325 high.
Now, Bitcoin is trading above the $42,500 level and the 100 hourly simple moving average. On the uptrend, a swift resistance is close to the $43,200 zone.
Based on the analysis, the price’s major resistance is just about the $43,500 level.
This is near the 76.40% Fibonacci retracement level of the key declining move to $40,771 low from $44,325 high.
Then, its next major resistance is close to the level of $44,350. This is beyond where Bitcoin’s price could climb high. In this case, it could test the resistance zone of $45,500.
An analyst forecasted that BTC will begin a new downward trend correction if it fails to break the $43,500 resistance area.
If this happened, Bitcoin’s prompt foundation on the downside is close to the level of $42,800.
Crypto Climbed as Bitcoin Rebounded
Furthermore, Ethereum accelerated 2.79% to $3,004.00 with a market capitalization of $350.29 billion and a 24-hour volume of $17.01 billion.
Likewise, Litecoin rose 3.51% to $150.04 with a market capitalization of $9.97 billion and a 24-hour volume of $2.62 billion.
Consequently, Bitcoin Cash jumped 2.16% to $497.00 with a market capitalization of $9.34 billion and a 24-hour volume of $1.12 billion.
Also, Chain Link added 3.74% to $24.17 with a market capitalization of $10.39 billion and a 24-hour volume of $1.05 billion.
In addition, Cardano hopped 2.35% to $2.11 with a market capitalization of $67.46 billion and a 24-hour volume of $2.95 billion.