Weekly Analysis of $BTC , $ETH - GNCrypto Analytics

The Federal Reserve's recent 50 basis point interest rate cut has positively impacted Bitcoin, breaking the cryptocurrency out of its local downtrend and pushing it towards the resistance zone of $63,500–$65,000. If sellers fail to maintain this range, BTC could continue its upward trajectory, with the next resistance level at $66,330. Currently, it’s advisable to avoid short positions at any resistance level, as the upward trend remains strong. A potential pullback to support zones at $60,200–$61,700 and $57,780 might present opportunities to accumulate long positions. However, the chance of BTC dropping to these levels appears minimal.

Ethereum is also experiencing strong upward momentum. Over the past week, ETH has gained 16%, with a significant resistance zone now at $2,700–$2,850. Buyers may push through this range, potentially driving ETH to the psychological mark of $3,000 by month’s end. The reaction at this level will likely determine the market’s next move. In the event of a pullback, Ethereum could find support at $2,517. A more significant downturn could occur if ETH drops to the $2,100–$2,300 range. However, the primary focus remains on BTC's price movement.