- *Support Level:* $2,400 is a crucial support level, and holding above it could lead to further gains. - *Resistance Level:* $2,800 is a key resistance zone, and breaking above it could trigger a significant upward move. - *RSI:* The Relative Strength Index (RSI) is at 51.54%, indicating a neutral zone and a balanced market. - *MACD:* The Moving Average Convergence Divergence (MACD) is positive, suggesting bullish momentum.
*Market Sentiment:*
- *Institutional Adoption:* Growing institutional interest and potential spot Ethereum ETFs could bring significant capital inflows. - *Network Upgrades:* Ongoing developments and upgrades, such as the Dencun upgrade, could enhance Ethereum's scalability, security, and efficiency.
*Predictions:*
- *Short-term:* Neutral to bullish, with potential consolidation or a short-term pullback if support breaks. -Long-term: Bullish, with potential targets of $3,000 to $6,880.35 in the coming months
- Bitcoin's primary trend is bullish, but buying at the current price is considered risky. - The Stochastic indicator has been in the overbought territory for 3 consecutive days, suggesting the digital gold is overpriced in the short term. - Key support levels include $105,119 (anchored VWAP) and $100,000 (psychological level). - Resistance levels include $112,000 (all-time high) and $150,000 (predicted target based on historical patterns) ¹ ².
*Market Sentiment:*
- Bitcoin's price movement has sparked fears of a sell-off due to the movement of $2 billion worth of Bitcoin from dormant wallets. - Institutional interest is growing, with $588 million in Bitcoin ETF inflows showing strong support amid price drops. - Market sentiment is currently "Extreme Greed" with a score of 83, indicating potential for a pullback.