What’s Next for Bitcoin, Ethereum and Solana Prices? BTC eyes $70k levels
Bitcoin remains above a critical price level, currently hovering above $67,000. This position is important because it shows strength in a short period of time. In recent days, Bitcoin has been forming a sideways price range, which indicates a period of consolidation. Here's an analysis by Crypto World analyst Josh.
Key Support: Key support is available between $64,100 and $64,500, with additional support around $63,000. A significant support zone lies between $60,200 and $61,200.
Resistance: On the upside, resistance is noted at $69,500, with additional resistance levels around $72,000 and $73,500.
Analyzing the volume profile, the main trade took place between $66,700 and $68,300, which indicates a critical area for traders' interest.
Market sentiment and momentum
The daily RSI has hinted at overbought conditions, suggesting a possible cooling phase. This cooling has been seen over the past week, with price movements remaining neutral.
Ethereum analysis
Following a consolidation phase, Ethereum has recently reached a critical support level around $2,430. This is important as it suggests that the rising support line may be reversed in the near term.
Current Support: The area between $2,430 and $2,475 is beneficial for Ethereum, indicating a strong support level.
Resistance: Resistance levels are identified at $2,550 to $2,580, with major resistance found between $2,700 and $2,800.
Bullish divergence
A bullish divergence is confirmed on the 4-hour chart. The lower bids coincided with higher lows in the RSI, suggesting a near-term move higher.
Solana analysis
Solana is currently facing a break from the critical support zone between $159 and $163. This transition indicates that this level is now acting as a new support. Despite his brutal setup, Solana could take a sideways move over the next few days as he faces resistance as he tries to maintain his upward trajectory.
Support: The current support level is between $159 and $163.
Resistance: Resistance can be found in the $170 to $175 range, with more significant resistance at $183 to $187.
market sentiment
Similar to Ethereum, Solana is also pointing towards independent price action. Despite breaking out of the inverse head and shoulders pattern, the current resistance levels may cause price hesitation.
