Nigeria - April 3, 2023 —
According to the current market conditions, Bitcoin, ETH, BNB, STX, and IMX are all showing momentum. One can see a notable increase in the value of Bitcoin. It has gains of over 23% for the week. Instant Exchangers offers a cryptocurrency trading platform in Nigeria that can make it easier to trade in all these types of cryptocurrencies.
There are various reasons behind this. There has been a recent banking crisis in the US and Europe. As a result, the demand for alternative stores of value has increased.
Most trade analysts have different views about the consequences of the current crisis. However, anything can happen in the crypto markets. So, traders should be careful and understand which cryptocurrency would be the right option for them in this situation.
Bitcoin:
Bitcoin surged to pass the $25,250 resistance level. It is quite typical for a major breakout to undergo a retest of the breakout level.
An advantage to buyers is the rising 20-day exponential moving average and the relative strength index in the overbought territory. So, in case the price breaks above $28,000, the rally may pick up momentum and surge to $30,000. It can further also increase to $32,000.
Another possibility is that the pricing can go down from the current level. But it can find support at $25, 250.
Ether:
It was seen on March 18 that the bulls have been successful in breaking past the $1,800 resistance level on either. However, they couldn't beat the upward momentum. Beers have been defending the $1,800 level on Ether with all their vigor.
Suppose the price of Ether falls. In this situation, the key support level can be between $1,680 and $1, 646. This can depict that the market has become bullish, and traders may try to make the most of the price dips.
Buyers can also try to resume the uptrend and may drive the price to $2,000. But this can be a difficult situation for the bulls of the market.
BNB:
As seen on March 18, BNB has moved above $338. So, the previously observed bearish pattern has come to an end. There can be a buying interest from the bulls in this situation because the beerish pattern has been invalidated.
If the BNB/USDT pair is taken into account, traders will notice that the bulls must maintain the price above the immediate support level of $318. If they do it efficiently, the pair can also rise to $360 in the beginning and can move towards $400 in the future. The bulls do have an advantage considering all the market conditions and trends.
If one plans to buy crypto in Nigeria, this is the perfect time. At Instant Exchangers, the team can efficiently guide traders for this. They provide complete transparency and excellent customer support at all times.
Stacks:
There has been a sudden increase in Stacks prices. It has gone up from $0.52 on March 10 to $1.29 on March 18. This means that the bulls have been trying to buy it in a short period and change how the market works. So, if the price turns up and breaks above $1.29, the STX/USTD pair can continue its uptrend. Its next target will be $1.55; after that, it will be $1.80.
But in another situation, the price can also fall and break below $1. This would be a sign of weakness on the downside.
Traders that are looking for a perfect money exchange can easily connect with Instant Exchangers. They can help them with it and offer a seamless and hassle-free experience when trading in cryptocurrency of any type.
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