Over the past seven days (ended March 31), bitcoin closing prices have stayed above the US$ 42.7 thousand support, reinforcing the uptrend and causing the movement to reach the US$ 47 thousand resistance.
Following this bullish move, the Fear & Greed index also went up. According to the Transfero team, investors have regained a little more confidence in the market. Currently, the index stands at 52 points, which means an increase of 30% compared to the previous week.
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“After reaching the US$ 47 thousand resistance, the bullish movement may lose some strength, presenting possible small corrections, which would take prices to the US$ 46,000/US$ 4,000 range”, the analysts said.
It is also worth noting that in March, altcoins returned to a strong bullish movement after being near the market capitalization lows at the end of February. The marketcap, excluding BTC, rose by more than 35%. Some coins had a significant impact on this rise, most notably ApeCoin, Zilliqa, AAVE, and Solana, among others.
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