👉👉👉 Should we wait for #Bitcoin (BTC) at $60,000, #Ethereum (ETH) guarantees a path to $3,500, #Dogecoin (DOGE) at the pivot level
Bitcoin has risen significantly, surpassing several resistance levels with clearly positive market sentiment. Currently, the price is around $56,000. Notably, the rally was preceded by a period of low volatility, potentially triggering a short squeeze as bearish traders rushed to cover their positions, thereby fueling the bullish move.
Bitcoin’s main support levels lie at $53,000 and $49,645, crucial for its bullish momentum. Resistance is expected at $58,000 and $60,000. Its trend remains bullish, supported by trading above moving averages and increasing volume, suggesting further upside potential.
In a bullish scenario, breaking through the $58,000 resistance could pave the way for a test of the $60,000 threshold, subject to continued institutional interest, positive developments in the cryptocurrency sector and a favorable macroeconomic environment .
Ethereum showed a strong upward trend, trading near $3,225 and targeting $3,500. It broke out above the major moving averages, with support at the 50-day average around $2,650 and the 100-day average at $2,414.
In terms of resistance, Ethereum is targeting the $3,300 level, having recently breached it. A sustained move beyond this level could lead to a challenge at $3,500, where selling pressure could emerge. Despite potential resistance, the prevailing trend suggests a possible test of this level in the near future.
Ethereum's trend is bullish, but caution is advised as the Relative Strength Index is near overbought levels. Divergence in the RSI, failing to confirm new price highs, suggests a possible pullback ahead.
Dogecoin (DOGE) is currently trading around $0.09152, approaching a pivotal point. Breaking above the key resistance at $0.092, supported by consistent buying, could lead DOGE to new highs. Support lies at $0.08451 and $0.08216, reflecting bullish sentiment among traders.
Source – you.today
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