📈 Analysis and Prediction (ETH and LTC):

👍 #ETH/USDT - The world's second-largest cryptocurrency has surged by 56% in the last month, rising from $2500 to $3921 at the time of writing. The digital asset is now less than 18% away from its all-time high of $4626, and it seems the market has already formed a local peak. A market peak signifies the peak level reached by asset prices or indexes before subsequent declines. It often indicates a transition from bullish sentiments to potential downward trends or corrections. Such a market peak is formed when over 95% of the circulating supply of an asset is in profit, and currently, this metric for #ETH stands at 97.5%. The last time such an event occurred was in November 2021 when the token formed its previous all-time high. This implies that a price drop may be imminent. Forecast: #Ethereum is trading above a three-year resistance block between $3582 and $3829. The price is likely to break through this block and test the 50% Fibonacci level at $3582. If profit-taking is strong and the cryptocurrency continues to decline, a 14% drop to $3336 is possible. This would return Ethereum to its price at the beginning of March. However, the upper bound of this resistance block coincides with the 61.8% Fibonacci level, known as the support level for a bullish run. If ETH holds above it, it may attempt to set a new all-time high again. For this, the price would need to rise by 17.93%, making the bearish scenario untenable.

🔗 #LTC/USDT - Forecast: If the aforementioned conditions contribute to a rally resumption, the #LTC price could bounce back from $94 and develop a bullish impulse towards $104. Turning this level into support will push Litecoin even higher. However, an unsuccessful breakthrough attempt and a drop below $90 would invalidate the bullish thesis.

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