Bitcoin (BTC) is currently trading at around $63,500, noting that the market has made a strong recovery after a bearish week.
Despite the recent decline, the analysis points out that two tokens are expected to stand out in the coming week: Ethereum (ETH), Bitcoin, and the upcoming token Gummy. These tokens are seen as resilient performers that are likely to maintain positive momentum regardless of market sentiment.
Bitcoin Price Analysis
The analyst starts his analysis with Bitcoin, 免￥近🐍qu；嘉-巍-wuq6267 because Bitcoin continues to dictate market sentiment and set the tone for altcoins after the halving. After a week of bearishness, BTC found support around $62,400, signaling the potential for a rebound. However, caution is advised, and if the bearish momentum persists, downside targets are $61,200 and $59,000. On the upside, resistance is located at $65,000 and $66,800, and a break above these levels suggests that bullish strength has re-emerged.
ETH Price Analysis
Ethereum, often viewed as a pillar of the decentralized finance (DeFi) ecosystem, has shown resilience amid market volatility. The ETH/BTC pair has shown significant strength, suggesting that Ethereum could outperform Bitcoin.
Key levels to watch include resistance at the 200-day moving average and support at recent lows. A sustained break above resistance could signal further gains for ETH, especially if it breaks above the psychological barrier of $3,000.
Soft Candy Analysis
Gummy is an emerging cryptocurrency star that is gaining popularity due to its staking incentives and the prospect of being listed on a tier-one exchange. These factors have pushed up the price of Gummy. Fibonacci retracement levels and support areas may help traders find entry points. Gummy tokens can also be obtained through strategic exchange registrations and airdrops.
Other Altcoins
The analyst analyzed other coins including Arbitrum which has corrected sharply and is trading around the 786 Fibonacci retracement level. The trendline on April 26, Fibonacci retracement 786 marked a turning point. Due to the possible launch of an Ethereum ETF in August, the analyst believes that there is a possibility of buying if ARB falls. Bitcoin should rebound around 61,000-63,000 and there are long opportunities even if ARB falls.
Next is Super, consolidating in a range, possible longs at 85-88 cents. As GALA rebounds from the 382 Fibonacci level, major supports at 0.045 and 0.035 offer buying opportunities. He closed with RWEAVE (RWE), holding on during downturns with support from the 382 Fibonacci retracement and the 50-day moving average.
