Bitcoin and Ethereum Technical Analysis: BTC Exceeding The 50 EMA To Initiate The Bullish Momentum Above $65K, ETH Remains In Consolidation Mode Around $3K
Bitcoin and Ethereum, the two most popular cryptocurrencies, are showing different trends in their technical analysis. Bitcoin’s daily chart is indicating a bullish momentum as it prints a bullish candle near the support at $60,880. The price has already moved above the 50 EMA and is waiting for the RSI to exceed 50 to confirm the bullish momentum. A daily candle closing above the $65K level could inspire BTC/USD to retest the supply zone around $70K – $73K.
On the other hand, Ethereum’s technical analysis shows that bears have failed to break the support level at $3,024 after multiple attempts since April 13th. The price is now testing minor resistance at $3,200, indicating the development of short-term bullish momentum. ETH/USD still needs to break the 50 EMA resistance around $3,284 to establish a fresh bullish trend. The potential for Ethereum to retest the $3.5K – $3.6K zone is high after rejecting a move below the support at $3,024.
Both cryptocurrencies are facing crucial levels in their technical analysis, with Bitcoin showing signs of a bullish momentum above $65K and Ethereum consolidating around $3K. The market is closely watching these key levels to determine the future direction of these cryptocurrencies. Stay tuned for more updates on Bitcoin and Ethereum technical analysis.
