Altcoins

Bitcoin Gold price up 16%, surpasses key $200 support levels

Bitcoin Gold

Bitcoin Gold price has surpassed $230 as of this writing leapfrogging the $200 mark, which is believed to be the cryptocurrency’s major support level.

Bitcoin Gold price is definitely on a bullish run right now as it has managed to leave behind the losses of the week’s bloodbath during which its prices went as low as $140. The major upside of the latest price rise is that BTG has managed to surpass key $200 support levels and if the current trend of price surge continues, it will likely cross the $250 levels soon.

After trading as low as $143, bitcoin gold price started a recovery against the US Dollar. The price moved higher and broke the $200 resistance level to set the pace for more gains. The current price action is positive and there are chances of more gains above $250 in the near term.

Above the $220 level, there is a major bearish trend line forming with resistance at $250 on the hourly chart of BTG/USD. The trend line resistance around $250 is the most important barrier for buyers on the upside. The current momentum is positive, but it won’t be easy for BTG/USD to break the $240-250 resistance area.

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About the author

Adrian Thompson

Adrian Thompson

Adrian has been a technology news journalist for 10 years and has extensively covered new innovations and technology from a research angle.

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