Bitcoin Stalls Below $80k as Injective and Aerodrome Finance Continue Rallies
Bitcoin (BTC) hovered below $80,000 on Tuesday after a minor pullback the previous day. The Fear and Greed Index showed persistent risk-on sentiment in the crypto market with a reading of 73.
The broader cryptocurrency market sentiment remained bullish despite BTC struggling to break above the sell wall between $80,000 and $82,850. Injective (INJ) and Aerodrome Finance (AERO) posted double-digit gains over the last 24 hours.
A confirmed breakout above the $80,000-$82,850 zone could target the 78.6% Fibonacci retracement at $87,476 for BTC. The Moving Average Convergence Divergence (MACD) crossed below its signal line on the daily chart, suggesting reduced bullish pressure.
Injective (INJ) extended its rally with a 6% gain on Tuesday and an additional 16% rise from the previous day. Aerodrome Finance (AERO) was up nearly 5% on Tuesday after an 11% jump the previous day.