Bitcoin
Bitcoin (BTC) Couldn’t Hold On, Solana (SOL) Reaches Crucial Support, Ethereum (ETH) Will Hit $4,500 on U.Today
U.Today – is clearly gearing up for a potential surge toward a new annual high as the price of the second-largest cryptocurrency approaches $4,000. Previously, some analysts stated that ETH will reach $4,500 before ETF trading goes live.
Ethereum also continued to rise above the $3,800 level, now trading around $3,906. This bull run is largely supported by considerably high volume, indicating good buying interest. Currently, the level has found strong support from the 50-day EMA around $3,225 and the 100-day EMA around $3,170, supporting ETH.
At the moment, Ethereum’s RSI is at 72, indicating that ETH is overbought. Perhaps it signals a pullback, but overall market sentiment remains unchanged. Recent price action has seen a clear breakout of consolidation, with more targets at higher resistance levels for ETH.
But it has to maintain the momentum to continue the journey towards $4,500 and penetrate above the psychological price level of $4,000. If broken, the next crucial resistance we are watching in the $4,200 range could give ETH momentum towards $4,500. The current levels to watch are $3,800 and $3,500 on the downside, which should hold to maintain the uptrend.
road to $70,000
Bitcoin has failed to hold above or even close to the crucial $70,000 price level and is currently consolidating around $69,000. Unfortunately, this is a sign of decreasing power and may suggest some bearishness in the future.
This implies that the digital asset is unable to sustain levels above $70,000, a level that signals the continuation of massive buying pressure. Looking at the recent price action, Bitcoin has once again failed to sustain itself above the $70,000 level, where the most significant resistance lies.
Consolidation can be visibly seen on the daily chart, where Bitcoin is trading levels just below $69,000. Furthermore, the fight to maintain gains above the psychological level continues to gain momentum as it consolidates at this level with the 50-day moving average.
Failure to break resistance at $70,000, coupled with consolidation in price action, could also signal possible downtrends. If Bitcoin loses the battle to hold above levels beyond the immediate support at $68,000, it could test lower support levels around $65,000 and $62,000, as represented by the moving averages. Increasing selling pressure under these moving averages will likely lead to larger losses towards the $60,000 level.
reaches support
Solana is approaching a strong support level in the form of the EMA 26. This is not the first time that SOL price has tested this resistance level, as in the past, SOL reached around $160 and emerged successfully up.
Solana is testing such a strong support level in the form of the 26 EMA. It would not be the first time that SOL price has touched this resistance level. This was the case in the past when SOL reached around $160 in price and rose successfully. Solana is currently trading around $164, which is close to a major support zone expanded by the 26-day EMA.
This has played out strongly in the past, particularly around the $160 zone, from which SOL was able to find strength and move higher. One of the very important technical indicators closely monitored by traders, therefore, is the EMA 26, as it often provides a cushion during a bull run and resistance when in a downtrend.
Solana has been quite volatile in terms of price but has remained bullish over the past few weeks of trading. Furthermore, the price retraced to levels around $190, testing the 26 EMA support. Not far away, the 50-day EMA is located at $153, and in case the 26-day EMA fails, this is the next line of defense.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
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Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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