Bitcoin’s struggle to break through the $66,000 zone is raising concerns among investors. The 50-day EMA has acted as a ceiling for Bitcoin, and it currently aligns with the $67,000 level, which Bitcoin has yet to surpass. On the downside, there is support at $61,000, which has previously provided a bounce-back for Bitcoin. However, there is a major resistance range at $71,000 that Bitcoin has repeatedly failed to breach. Breaking above the 50 EMA and clearing the $67,000 mark could signal stronger growth, while a drop below $61,000 could result in a deeper pullback.
Meanwhile, Bonk has experienced an impressive 80% price surge in the past three days. This surge, accompanied by increased trading volume, indicates strong bullish momentum. The gradual volume build-up suggests stability for the recent price hike, and Bonk is poised to break through the next resistance level at $0.000028-29, continuing its rally.
On the other hand, Ethereum is on the verge of a potential price movement. It is approaching the 26-day EMA, which is an essential technical indicator for short-term market trends. Its current price is around $3,250, hinting at a possible breakout. The convergence of the 26 and 50 EMAs may lead to increased volatility as Ethereum battles between these two averages. The decreasing trading volume could be a sign of a potential reversal. If Ethereum manages to rise above the 26 EMA, it may target the next resistance level at $3,500, but failure to break through could result in a retest of lower supports, possibly at the $3,000 level.