Bitcoin
Will Bitcoin (BTC) Test $70,000 Again This Week? XRP Fights for Bull Market Comeback, Has Ethereum (ETH) Plateaued? By U.Today
U.Today – has not given up on the $68,000 to $70,000 price range and may be gaining momentum for a breakthrough attempt. Digital gold is currently trading around $69,000, bouncing off the 26 EMA. However, $69,400 is a significant resistance threshold that could cause serious problems if BTC does not gain enough momentum.
As Bitcoin attempts to break the critical $70,000 barrier once again, the chart shows bullish sentiment. The price demonstrated resilience and the possibility of upward movement by recently recovering from the 26-day exponential moving average.
This recovery implies that buyers are stepping in and giving the market the support it needs to remain above $68,000. Bitcoin is currently battling the $69,400 resistance level, a critical point that has historically been difficult to overcome. If this level is not broken, there could be a reversal to $70,000 and below.
A correction could find additional support at the 50-day EMA and 100-day EMA, both of which are positioned below the current price. Trading volume has increased slightly, suggesting that traders are increasingly interested and involved. Any significant price movement must be supported by this increase in volume.
The questionable state
XRP is currently in a mixed state: on the one hand, the asset is still heavily suppressed; on the other hand, you are gaining some power and potentially even gaining some strength to jump. One way or another, it is still below the EMA 50 and definitely needs to advance to be considered a bounce candidate.
Given that XRP has not yet been able to decisively break the 50-day EMA, this is especially important. If the price continues to rise above this barrier, it could be a sign that buyers are taking control and pushing the price higher. But the bearish attitude could still prevail as long as XRP remains below this mark.
Low trading volume may indicate a lack of trust among traders. XRP will require more trading volume to sustain price movement in order to create a successful recovery. Strong participation is often indicated by high volume, which can also confirm the direction of the price trend. The RSI is in a neutral zone, around 50 and does not provide any substantial insight.
problem
Ethereum is clearly facing some difficulties as the asset has remained in the same trading range for the past few weeks. Considering the trading volume, this is not the problem since the bears are not really prepared to push it down. But there is also an important factor to consider: bull exhaustion.
The Ethereum/USD chart indicates that the cryptocurrency is settling in a small range, ranging roughly from $3,750 to $3,850. The price has not risen considerably, despite the previous bullish momentum suggesting a possible plateau. Although sellers are not actively lowering prices, this stagnation could be the result of bullish exhaustion, in which buyers do not have the power to drive prices up.
More context is provided by the chart’s moving averages. But failure to surpass the current resistance level around $3,850 could indicate a consolidation phase or even a possible pullback. The current range needs to be broken and volume analysis indicates that trading activity has not increased significantly.
Increased market share would be indicated by an increase in volume, which could encourage a disruption. The low but consistent volume for now indicates that traders are waiting to see what will happen before making a big move. Ethereum is approaching overbought conditions as indicated by the RSI, which is currently trading between 60 and 70. Even though this is not a drastic scenario, it implies that the upside potential may be limited in the absence of a correction or consolidation in the market period.