Bitcoin’s price has been on the rise, but it has faced resistance at levels above $28,800 and $29,000.

It recently reached a high of around $28,595 but then corrected downwards, falling below the $28,200 support level and the 100 hourly simple moving average.

Eventually, the bears pushed the price below the $28,000 support zone.

Some analysts believe that a surge above the resistance level of $28,100 may signal a new era of growth for the cryptocurrency, while others caution against the potential for a steep decline if this level cannot be surpassed.

The current state of the cryptocurrency market has been unpredictable, with volatility being the norm. This unpredictability makes it challenging to forecast future trends accurately, making it crucial to remain informed.