Crypto market reacts to geopolitical events
The beginning of spring was marked by high volatility in the cryptocurrency market. Major crypto assets such as Bitcoin, Ethereum, BNB and other altcoins reacted to geopolitical events, including the conflict in Ukraine and the tightening of the US Federal Reserve's monetary policy.
Bitcoin opened the week by rallying straight into a key resistance level around $42,000. If it manages to hold this level, it could signal the start of the next leg of the crypto bull market. The key levels for BTC remain $38,000 and $45,000.
Ethereum also demonstrates a positive trend and has consolidated above $2,600. The next target for ETH could be the $2,800-$3,000 zone. The support levels are $2,400 and $2,200.
Other popular altcoins such as BNB, XRP, SOL, DOGE and ADA also show signs of recovery after the recent decline. Investors should closely monitor their price dynamics in the coming weeks.
Expert opinion
Despite the ongoing geopolitical tensions, the cryptocurrency market is showing signs of recovery. Holding key resistance levels could be a signal for the start of the next rally. However, investors should be cautious as volatility is likely to persist.
In the long term, fundamental factors such as institutional adoption, DeFi and Web3 development remain favorable for the growth of cryptocurrencies. Therefore, experienced traders and investors may view the current correction as an opportunity to enter the market.