Bitcoin has entered into a rally, and higher targets have come back into play, maintaining $45k price at downward trend as DeFi token BAKE leads gainers pack recording over 50% price increase.
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Corrections are essential for a healthy rally, and the price can experience a drawdown to lower support levels around $45K to verify the breakout and continue upwards. The next significant resistance is found in the $52K region, and if the channel’s upper trendline is broken, the mentioned will be unavoidable.
The live BakeryToken price today is $1.25 USD with a 24-hour trading volume of $597,595,818 USD. We update our BAKE to USD price in real-time. BakeryToken is up 48.44% in the last 24 hours, with a live market cap of $241,366,495 USD. It has a circulating supply of 193,529,485 BAKE coins and the max.
It is important to note that the price has recently climbed above the 1-year moving average. Historically, this has been a critical milestone for BTC, and a breakthrough above it might signal the start of a bullish surge. Currently, the 200-day moving average has been the main barrier for the cryptocurrency to explore higher targets, and the bulls are attempting to break above it.
The RSI, on the other hand, has reached the overbought zone, which increases the probability of an upcoming correction for Bitcoin’s price.