"Ether's Impact" The game-changing push for $LINK $UNI and $ARB
thread 1/3
Ether could drive LINK, UNI and ARB prices higher
The U.S. Securities and Exchange Commission's (SEC) approval of Ether spot exchange-traded funds (ETFs) on May 23 failed to extend Ether's rally, which rose approximately 25% last week. However, a positive sign is that regulatory approval did not trigger a massive sell-off, indicating that ETH bulls are not rushing to exit. This suggests that traders seem to be in a wait-and-see mode.
Meanwhile, bitcoin rose to around USD 72,000 this week, but bulls could not sustain higher levels. The price fell and slid below the psychological level of USD 70,000, indicating that sideways price action may continue.
The positive movement for bitcoin and Ether this week has triggered the buying of select altcoins that appear promising in the short term. If markets respect the support levels of bitcoin and Ether, some altcoins could find buying support.
Bitcoin price analysis
Bitcoin bounced off the 20-day exponential moving average (USD 66,814) on May 24, indicating that sentiment has turned positive, and traders are buying on dips. Bulls will try to push the price to the USD 73,777 resistance. This is an important level to watch as bears are expected to defend it aggressively. If the price sharply retreats from USD 73,777 and falls below the moving averages, it will be a sign that the limited range action may continue.
On the other hand, if bulls do not give up much ground from USD 73,777, it will improve the prospects of an upside move. The BTC/USDT pair could attempt to rise to US" 80,000 and then to USD 84,000.
Buyers have pushed the price above the downtrend line, but are struggling to sustain higher levels. This suggests that bears have not given up and are selling on rallies. If the price slips below the downtrend line, it could initiate a decline to USD 66,000 and then to USD 64,600.
#eth price analysis 2/3
#Link price analysis 2/3
#uni price analysis 3/3
#Arb price analysis 3/3
